Universal (US:UVV) Prnewswireยท2025-02-05 21:05Core Insights - Universal Technical Institute, Inc. reported strong financial and operational performance in the first quarter of fiscal 2025, with a consolidated revenue increase of 15.3% year-over-year to $201.4 million, driven by growth in average full-time active students and new student starts [7][8][10] - The company raised its fiscal 2025 guidance for all key metrics, expecting revenue between $810 million and $820 million, adjusted EBITDA between $122 million and $126 million, and new student starts between 28,500 and 29,500 [10][12] Financial Performance - Revenue for the first quarter was $201.4 million, a 15.3% increase from $174.7 million in the same period last year [7][8] - Net income rose to $22.2 million, reflecting a 113.2% increase compared to $10.4 million in the prior year [7][8] - Adjusted EBITDA increased by 44.8% to $35.5 million from $24.5 million year-over-year [7][8] - Operating income improved to $27.5 million from $14.2 million, while operating expenses increased by 8.4% to $174.0 million [8][9] Student Metrics - Total new student starts grew by 22.3% to 5,313, with average full-time active students increasing by 11.1% to 25,062 [7][31] - The UTI division saw new student starts increase by 19.0%, while Concorde experienced a 26.0% rise [31] Strategic Initiatives - The company is in the North Star Phase II strategy, focusing on growth, diversification, and optimization through strategic investments and technological innovation [3][10] - Investments in marketing and admissions have driven enrollment growth, particularly in the Concorde division [9] Balance Sheet and Liquidity - As of December 31, 2024, the company had total available cash liquidity of $246.0 million, including $74.0 million from its revolving credit facility [11] - Capital expenditures for the year-to-date period were $3.3 million, primarily for program expansions [11]