NYSE$UTI
Universal Technical Institut · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported third quarter fiscal year 2023 financial results.
Universal Technical Institute reported a 51.8% increase in revenue to $153.3 million, driven by the Concorde Career Colleges acquisition. The company is raising its adjusted EBITDA, adjusted net income and adjusted free cash flow guidance, and tightening its revenue guidance range.
- Revenue was $153.3 million with UTI contributing $100.9 million and Concorde contributing $52.4 million.
- Net loss of $0.5 million, adjusted net income of $2.0 million, and adjusted EBITDA of $11.4 million.
- Total new student starts of 5,300 with UTI increasing 5.3% versus the prior year period and 1,967 contributed by Concorde.
- The Company is raising its adjusted EBITDA, adjusted net income and adjusted free cash flow guidance, and tightening its revenue guidance range.
Headline financials
Revenue & EPS history
UTI · Revenue · Quarterly
$153M
Revenue by segment
UTI · $153M total across 2 segments · Q3 2023
- UTI$101M—65.8%
- Concorde$52.4M—34.2%
Forward guidance
The Company is raising its adjusted EBITDA, adjusted net income and adjusted free cash flow guidance, and tightening its revenue guidance range. Revenue guidance tightened to a range of $602 million to $605 million and adjusted EBITDA guidance raised to a range of $62 million to $64 million.
Tailwinds
- New student start growth: No change 22,000 - 23,500
- Revenue: Narrowed range and raised midpoint $602.0 - $605.0 million
- Adjusted net income: Raised range and midpoint $17.0 - $20.0 million
- Adjusted EBITDA: Raised range and midpoint $62.0 - $64.0 million
- Adjusted free cash flow: Raised range and midpoint $44.0 - $46.0 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-1.1%
Avg return
Earnings day
+2.1%
Avg return
5 days after
+3.7%
Avg return
30 days after
51%
33 / 65 earnings
Positive
+18.4%
Q4 2024
Best reaction
-29.4%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -8.7% | +1.9% | +17.8% | |
| Q1 2026 | -11.2% | -2.8% | +25.6% | |
| Q4 2025 | -20.9% | -22.3% | -10.9% | |
| Q2 2025 | +10.4% | +6.9% | +19.4% | |
| Q1 2025 | +2.0% | +0.6% | -9.5% | |
| Q4 2024 | +18.4% | +30.1% | +26.8% | |
| Q3 2024 | -1.9% | -1.1% | -4.1% | |
| Q2 2024 | -8.7% | -9.9% | -13.3% | |
| Q1 2024 | +10.0% | +8.2% | -1.4% | |
| Q4 2023 | +13.8% | +13.4% | +11.4% | |
| Q3 2023 | +1.4% | +7.9% | +2.9% | |
| Q2 2023 | -3.1% | -4.6% | +12.6% | |
| Q1 2023 | -2.3% | +3.4% | -8.0% | |
| Q4 2022 | -15.9% | -9.0% | -4.5% | |
| Q3 2022 | -12.3% | -15.4% | -17.2% | |
| Q2 2022 | -3.7% | -16.6% | -11.5% | |
| Q1 2022 | +0.4% | +18.2% | +15.8% | |
| Q4 2021 | +5.0% | +22.5% | +5.1% | |
| Q3 2021 | +16.9% | +15.3% | +14.3% | |
| Q2 2021 | +2.3% | +5.3% | +6.6% | |
| Q1 2021 | -0.2% | -0.6% | -2.7% | |
| Q4 2020 | +1.6% | +6.8% | +11.8% | |
| Q3 2020 | +0.1% | +0.0% | -18.3% | |
| Q2 2020 | +9.5% | -5.1% | +13.6% | |
| Q1 2020 | +8.7% | +18.4% | -11.3% | |
| Q4 2019 | +13.8% | +24.2% | +31.3% | |
| Q3 2019 | +3.7% | -3.2% | +25.9% | |
| Q2 2019 | +0.0% | +4.5% | +2.4% | |
| Q1 2019 | -0.9% | +0.9% | -2.6% | |
| Q4 2018 | +16.2% | +13.4% | +33.2% | |
| Q3 2018 | -13.1% | -15.6% | -15.3% | |
| Q2 2018 | -0.3% | -1.9% | +0.6% | |
| Q1 2018 | +7.9% | +2.8% | +1.2% | |
| Q4 2017 | -21.4% | -21.9% | -34.2% | |
| Q3 2017 | +1.5% | -3.3% | -4.1% | |
| Q2 2017 | +3.1% | +3.1% | +2.2% | |
| Q1 2017 | +1.5% | +2.1% | +0.0% | |
| Q4 2016 | +5.0% | +9.6% | +28.9% | |
| Q3 2016 | -1.7% | -3.9% | +2.6% | |
| Q2 2016 | -9.2% | — | — | |
| Q1 2016 | -4.9% | — | — | |
| Q4 2015 | -29.4% | — | — | |
| Q3 2015 | -6.4% | — | — | |
| Q2 2015 | +3.5% | — | — | |
| Q1 2015 | +5.0% | — | — | |
| Q4 2014 | -2.8% | — | — | |
| Q3 2014 | -2.0% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | -9.0% | — | — | |
| Q4 2013 | +0.6% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q2 2013 | -14.4% | — | — | |
| Q1 2013 | +4.3% | — | — | |
| Q4 2012 | -28.7% | — | — | |
| Q3 2012 | +2.1% | — | — | |
| Q2 2012 | -0.7% | — | — | |
| Q1 2011 | -5.0% | — | — | |
| Q1 2012 | +3.1% | — | — | |
| Q4 2011 | +3.5% | — | — | |
| Q4 2009 | +3.5% | — | — | |
| Q2 2011 | +3.5% | — | — | |
| Q4 2010 | -5.6% | — | — | |
| Q3 2010 | -5.6% | — | — | |
| Q3 2011 | -5.6% | — | — | |
| Q2 2010 | +3.1% | — | — |
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