NYSE$UTI
Universal Technical Institut · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported fiscal year 2022 fourth quarter and year-end results.
Universal Technical Institute reported a 13.5% increase in revenue for the fourth quarter, reaching $110.6 million. Net income for the quarter was $2.8 million, a decrease of 76.5% from the prior year period. The company provided fiscal 2023 guidance, including revenue of $595 - $610 million and adjusted EBITDA of $58 - $62 million.
- Full year revenue of $418.8 million in 2022, an increase of 25.0% compared to the prior year, and $110.6 million in the fourth quarter, up 13.5% compared to the prior year quarter.
- Full year net income was $25.8 million compared to $14.6 million in the prior year, while net income for the fourth quarter was $2.8 million, down 76.5% from prior year period.
- Full year adjusted EBITDA was $55.9 million, an increase of 71.8% versus the prior year, while fourth quarter adjusted EBITDA was $14.0 million, a decrease of 23.1% versus the prior year period.
- New student starts in the full year increased 2.7% from the prior year, while average active students increased 11.7%.
Headline financials
Revenue & EPS history
UTI · Revenue · Quarterly
$111M
Revenue by segment
UTI · $153M total across 2 segments · Q3 2023
- UTI$101M—65.8%
- Concorde$52.4M—34.2%
Forward guidance
In 2023, the company will focus on successfully integrating Concorde into the UTI family. The fiscal 2023 guidance reflects the ten months of contribution of the Concorde acquisition, as well as the ramp-up of the new UTI campuses and new program launches, all of which will drive strong revenue growth. Despite the revenue growth, adjusted EBITDA margin will be lower in 2023 due to several factors.
Tailwinds
- Strong revenue growth driven by Concorde acquisition and ramp-up of new UTI campuses.
- Potential to deliver revenue in excess of $700 million in fiscal 2024.
- Expect accelerating organic revenue growth.
- Expect overall margin expansion.
- Strategic positioning to execute on longer-term targets for growth and diversification.
Headwinds
- Lower new student starts in 2022.
- UTI growth investments including new campus and program ramps along with admissions channel investments.
- Overall inflationary pressures.
- Lower margin profile of Concorde.
- Transitionary investments to operate Concorde in a public company environment ahead of realizing operating synergies.
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 Q4 2022
-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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro