Universal Technical Institute (UTI) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 28.57%. A quarter ago, it was expected that this school for auto, motorcycle and marine technicians would post earnings of $0.15 per share when it actually produced earnings of $0.14, delivering a surpris ...

Financial Performance - Revenue for Q3 FY2024 was $177.5 million, reflecting a 15.8% increase compared to the prior year period[1] - Net income reached $5.0 million, and adjusted EBITDA was $18.4 million, both showing significant increases from the previous year[1] - Revenues for the three months ended June 30, 2024, were $177,458,000, representing an increase of 15.7% compared to $153,286,000 in the same period of 2023[19] - Net income for the three months ended June 30, 2024, was $4,985,000, compared to a net loss of $509,000 in the same period of 2023[19] - Consolidated revenue for the nine months ended June 30, 2024, was $536,329,000, compared to $437,110,000 for the same period in 2023, reflecting a growth of 22.8%[28] - Net income for the nine months ended June 30, 2024, was $23,161,000, a significant increase from $5,619,000 in the same period of 2023[23] Student Enrollment and Growth - Average undergraduate full-time active students grew by 13.4% year-over-year, with total new student starts increasing by 5.0%[1] - Total new student starts for UTI in the three months ended June 30, 2024, were 2,916, representing a year-over-year decline of 12.5%[24] - Average undergraduate full-time active students for UTI increased by 13.0% year-over-year to 13,041 in the three months ended June 30, 2024[24] - The end of period undergraduate full-time active students for UTI was 12,686, a year-over-year increase of 6.5%[25] Financial Guidance and Projections - The company reiterated its full-year guidance, expecting revenue and new student starts to trend towards the higher end of previously communicated ranges[1] - For FY2025, the company projects revenue of nearly $800 million and an adjusted EBITDA margin expansion of at least 100 basis points compared to FY2024[1] - The company aims for a compound annual revenue growth rate of approximately 10% and an adjusted EBITDA margin approaching 20% by the end of FY2029[2] - The company expects to meet its fiscal year 2024 guidance for new student start growth and revenue growth, projecting low-to-mid single-digit growth[14] Operating Expenses and Cash Flow - Operating expenses for Q3 FY2024 increased by 11.4% to $170.0 million, primarily due to new program launches[3] - Total operating expenses for the three months ended June 30, 2024, were $170,012,000, an increase from $152,623,000 in the same period of 2023[19] - Cash provided by operating activities for the nine months ended June 30, 2024, was $18,361,000, compared to a cash used of $(4,733,000) in the same period of 2023[23] - The company reported a net cash provided by operating activities of $18,361,000 for the nine months ended June 30, 2024, compared to $(4,733,000) for the same period in 2023, indicating a positive shift in cash flow[42] Strategic Initiatives and Expansion - The company plans to add a minimum of six new programs and open at least two new campuses each year starting in FY2025[2] - The company plans to continue expanding its value proposition and launching new programs in the upcoming year[14] - The company operates 16 campuses under Universal Technical Institute and 17 campuses under Concorde Career Colleges, focusing on in-demand career education[17] Market and Product Development - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience and product efficiency[43] - New product launches contributed to a 20% increase in sales in the last quarter, with particular success in the smart home segment[43] - Market expansion efforts in Europe resulted in a 25% increase in market share, now accounting for 30% of total sales[43] - The company completed a strategic acquisition of a smaller tech firm for $150 million, expected to enhance its product offerings and market reach[43] - The company plans to enter the Asian market in 2024, targeting a revenue contribution of $1 billion within the first year[43] Cost Management and Profitability - Operating margin improved to 22%, up from 20% in the previous quarter, due to cost management strategies[43] - Customer retention rate increased to 85%, up from 80% last year, indicating stronger user engagement[43]

Core Insights - Concorde Career Colleges and Heartland Dental have formed a partnership to establish a co-branded campus in Fort Myers, Florida, aimed at training dental hygienists and dental assistants to meet workforce demands [1][2][4] - The new campus is expected to train up to 120 dental hygienists and 72 dental assistants annually, utilizing Concorde's curriculum and support services [2][4] - Heartland Dental will cover the construction costs and provide scholarships to students, reflecting its commitment to education and workforce development in the dental field [2][3] Company Overview - Heartland Dental is the largest dental support organization in the U.S., with over 23,000 employees and more than 1,750 supported dental offices [1][8] - Concorde Career Colleges operates 17 campuses across eight states, focusing on healthcare education, including dental programs [7] - The partnership aims to address the projected job growth of 7% for dental hygienists and dental assistants from 2022 to 2032, with even higher growth rates in Florida [4][6] Educational Programs - Concorde's dental hygiene program combines online and in-person instruction, allowing students to enter the workforce in as few as 17 months [4][6] - The dental assistant diploma program prepares students for employment in as few as eight months, integrating foundational dental care concepts with practical externships [4][6] - Concorde currently has over 1,900 students enrolled in its dental programs across multiple campuses [4]

Core Viewpoint - Universal Technical Institute (UTI) is expected to report a significant year-over-year increase in earnings, driven by higher revenues, with a consensus EPS estimate of $0.07 per share, reflecting a 240% increase from the previous year [11]. Earnings Expectations - Revenues for the upcoming quarter are projected to be $172.33 million, representing a 12.4% increase compared to the same quarter last year [2]. - The consensus EPS estimate has been revised 0.76% lower over the last 30 days, indicating a reassessment by analysts [2]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP of +3.70% for UTI indicates a higher likelihood of an earnings beat [5]. - A positive Earnings ESP combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) has historically resulted in a positive surprise nearly 70% of the time [4]. Historical Performance - Over the last four quarters, UTI has beaten consensus EPS estimates two times [7]. - In the last reported quarter, UTI was expected to post earnings of $0.15 per share but actually reported $0.14, resulting in a surprise of -6.67% [16]. Market Sentiment - Analysts have recently become more optimistic about UTI's earnings prospects, as indicated by the Most Accurate Estimate being higher than the Zacks Consensus Estimate [5]. - The market's reaction to UTI's earnings report will depend on how actual results compare to these estimates, alongside management's discussion of business conditions during the earnings call [9][10].

BLOOMFIELD, N.J., July 18, 2024 /PRNewswire/ -- Universal Technical Institute-Bloomfield today announced that enrollment in their new HVACR program has begun. Classes begin in September. UTI-Bloomfield campusUTI-Bloomfield campus HVACR students studying at UTI-Austin.HVACR students studying at UTI-Austin. The nine-month program covers air handling and hydronics, AC and DC circuits and components, sheet metal ductwork, vent system selection and installation, and mechanical and electronic controls troubleshoo ...

PHOENIX, July 17, 2024 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI) (the "Company"), a leading workforce solutions education provider, will hold a conference call on Tuesday, August 6, 2024, at 4:30 p.m. Eastern time to discuss its financial and operational results for the fiscal third quarter ended June 30, 2024. About Universal Technical Institute, Inc. Universal Technical Institute, Inc. (NYSE: UTI) (the "Company") was founded in 1965 and is a leading workforce solutions provider of tr ...

Group 1: Partnership Overview - Universal Technical Institute (UTI) has partnered with Crown Equipment to offer paid work experience opportunities for automotive and diesel technology students through the Early Employment Program [1][2] - Students enrolled in the 51-week automotive technology and 45-week diesel technology programs can apply for 20 to 30 paid hours weekly while completing their studies [2] - Graduates offered full-time employment by Crown may qualify for tuition reimbursement up to $20,000 [2] Group 2: Company Profiles - Universal Technical Institute, founded in 1965, is a leading provider of workforce solutions in transportation, skilled trades, and healthcare education, operating 16 campuses across 9 states [4] - Crown Equipment, established in 1945, is one of the world's largest material handling companies, employing over 18,100 people globally and operating more than 500 retail locations in over 80 countries [5] Group 3: Program Benefits - The Early Employment Program aims to bridge the gap between skilled trade education and industry workforce needs, facilitating a smooth transition from classroom to workforce for students and graduates [2][3] - Crown Equipment emphasizes that UTI's training programs provide a solid foundation for service technicians, enhancing Crown's ability to access a skilled pool of professionals [3]

Commission on Accreditation for Respiratory Care honors Concorde-Portland for third consecutive year PORTLAND, Ore., July 15, 2024 /PRNewswire/ -- For the third consecutive year, Concorde Career College– Portland's respiratory therapy program has been recognized for outstanding student outcomes by the Commission on Accreditation for Respiratory Care (CoARC). The "Distinguished Registered Respiratory Therapist (RRT) Credentialing Success" award is presented annually as part of the accreditor's continued effo ...

Campuses to be rebranded as UTI-Canton, UTI-Orlando, UTI-Phoenix and UTI-Mooresville. About Universal Technical Institute, Inc. Universal Technical Institute, Inc. (NYSE: UTI) was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades, and healthcare education programs whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand careers across a number of highly skilled fields. Universal Technical Ins ...

UTI is a #2 (Buy) on the Zacks Rank, with a VGM Score of B. It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 20.31; value investors should take notice. Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.01 to $0.71 per share. UTI also boasts an average earnings surprise of 49.4%. With a solid Zacks Rank and top-tier Value and VGM Style Scores, UTI should be on i ...