Patterson-UTI Energy, Inc. (PTEN) is set to report third-quarter earnings on Oct. 23. The Zacks Consensus Estimate for earnings is pegged at 1 cent per share and that for revenues is pinned at $1.29 billion.Let us delve into the factors that are likely to have influenced PTEN’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Highlights of Q2 E ...

This is the second consecutive year a Concorde campus has earned the distinction SAN ANTONIO, Oct. 16, 2024 /PRNewswire/ -- Concorde Career College-San Antonio (CCC) has been named "School of the Year" by Career Colleges and Schools of Texas (CCST) in recognition of its exemplary graduation and placement rates, community service, and legislative efforts. The award celebrates a single institution annually by CCST, an association of approximately 200 private post-secondary career colleges and schools in Texas ...

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The campus is one of only 19 schools accredited by ACCSC to earn the highest "School of Excellence" award in the 2023-2024 accrediting period PHOENIX, Aug. 30, 2024 /PRNewswire/ -- Universal Technical Institute, the transportation, skilled trades and energy education division of Universal Technical Institute, Inc., today announced that UTI-Dallas (Texas) has been named a School of Excellence by their accrediting body, the Accrediting Commission of Career Schools and Colleges (ACCSC). The campus previously r ...

The campus is one of only 19 schools accredited by ACCSC to earn the highest "School of Excellence" award in the 2023-2024 accrediting period PHOENIX, Aug. 29, 2024 /PRNewswire/ -- Universal Technical Institute, the transportation, skilled trades and energy education division of Universal Technical Institute, Inc., today announced that UTI-Sacramento (Calif.) has been named a School of Excellence by their accrediting body, the Accrediting Commission of Career Schools and Colleges (ACCSC). UTI Sacramento Cam ...

The School of Excellence Award is the highest institutional distinction awarded by the ACCSC. It celebrates accredited member institutions for their steadfast adherence to ACCSC's rigorous accreditation standards and outstanding record of student accomplishment. According to ACCSC Executive Director Dr. Michale McComis, "The School of Excellence Award highlights a school's efforts and its success in offering high-quality education that benefits students—it is a distinction that a school earns through meetin ...

inter LES the former lyash()1 Background Patterson-UTI (NASDAQ:PTEN) is a U.S. land focused oilfield services company that offers both drilling and completion services. The merger with NexTier expanded the completions portfolio, while the subsequent acquisition of Ulterra added a smaller drill bits business. . U.S. olifield services are in a cyclical downturn. The common impulse is to link these ups and downs to oil prices, but the current stituation has more to do with natural gas VAL US OIl Rig Count (I:U ...

th n sasacvetkovic33 What bothers me most by the soft-landing talk on Wall Street is the fact commodity cycles require a downside. If you skip downturns to cool demand and rebalance supply, you will find yourself in an endless mathentatical loop of shortages, where prices climb or are flat, year after year. I don't think the average Wall Street analyst small retail investor understands the "need" for recessions. At the same time, everyone likes to complain about nising inflation. Well, you cannot have your ...

__________________________________________________________________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 1-31923 UNIVERS ...

Financial Data and Key Metrics Changes - Revenue grew nearly 16% year-over-year to $177.5 million, exceeding expectations [6][22] - Net income increased to $5 million, with diluted earnings per share of $0.09 [23] - Adjusted EBITDA rose 61% to $18.4 million, reflecting strong operational performance [7][23] - Total average undergraduate full-time active students increased by 13% year-over-year [20][21] Business Line Data and Key Metrics Changes - Concorde division saw a 14% increase in average undergraduate full-time active students and a 34.8% increase in new student starts [20][21] - Clinical starts in the Concorde division grew 64% year-over-year, while core and short programs grew 20.6% [21] - UTI division experienced a 13% increase in average undergraduate full-time active students, but a 12.5% decrease in new student starts due to timing shifts [21][22] Market Data and Key Metrics Changes - Demand for skilled labor in transportation, skilled trades, and healthcare remains robust, with anticipated job growth over the next decade [6][8] - The company expects to achieve double-digit start growth for UTI in the fourth quarter and approximately 10% growth for the fiscal year [7][21] Company Strategy and Development Direction - The company is entering Phase 2 of its North Star Strategy, focusing on addressing the need for skilled workers in America [17][19] - Plans to launch a minimum of six new programs annually and open at least two new campuses each year starting in fiscal 2026 [18][19] - The company aims for a compound annual revenue growth rate of approximately 10% between fiscal 2024 and fiscal 2029 [18][19] Management's Comments on Operating Environment and Future Outlook - Management noted a weaker economy with fewer jobs being added, but demand for skilled labor remains strong [5][6] - The company is optimistic about its growth trajectory, expecting to hit the upper end of revenue guidance for fiscal 2024 [19][27] - Management emphasized the importance of strategic partnerships and program expansions to enhance growth [10][16] Other Important Information - The company anticipates significant year-over-year growth in profitability metrics for the fourth quarter [24] - Total available liquidity was $148.5 million, including $33 million from the revolving credit facility [25] - The company plans to pay down an additional $10 million to $15 million on the revolver by the end of the fourth quarter [25] Q&A Session Questions and Answers Question: Can you provide insights on the North Star Strategy and the 20% target for '29? - Management indicated that segment-level details are not yet available, but growth initiatives will initially focus on UTI due to current restrictions on Concorde [34] Question: How are you thinking about capacity as part of the North Star plan? - Management stated that capacity is not finite and they are continuously refining educational delivery and space utilization to increase capacity [35][36] Question: What has been the experience with FAFSA issues and their impact on enrollment? - Management acknowledged ongoing challenges with FAFSA but noted that it did not significantly affect overall enrollment for the year [37][38] Question: Can you provide an update on marketing channels? - Management reported strong results in both divisions, with effective lead generation strategies contributing to growth [40][41] Question: What is the timeline for new campuses and program expansions? - Management is not ready to announce specific details but anticipates being able to share information soon [42][43] Question: Can you clarify the growth restrictions on Concorde? - Management explained that growth restrictions will be lifted in mid to late 2026, allowing for new campuses and program expansions [46][47] Question: How does the Heartland partnership affect economics? - Management clarified that they will retain the economics of the campus while Heartland provides financial assistance to students [48][49] Question: Is M&A part of the growth plan? - Management emphasized that M&A is not included in the current organic growth plan but remains open to strategic opportunities [65][66]