Universal Technical
UTI
$25.50 -2.22%
Exchange: NYSE | Sector: Consumer Defensive | Industry: Education Training Services
Q2 2024
Published: May 9, 2024

Earnings Highlights

  • Revenue of $184.18M up 12.4% year-over-year
  • EPS of $0.14 increased by 240.6% from previous year
  • Gross margin of 47.1%
  • Net income of 7.79M
  • ""We’re seeing momentum build. I think there’s been a great deal of positive press about the ROI of skilled trades, especially as we enter the summer months, and people are making decisions about directions post high school. And so, we’re seeing an environment that feels more favorable to considering alternatives like ours."" - Jerome Grant
UTI
Company UTI

Executive Summary

UTI delivered robust top-line growth in QQ2 2024, led by double-digit growth in new student starts and continued execution across its multidivisional platform. Consolidated revenue rose 12.4% year over year to $184.2 million, with the UTI division up 14.7% and Concorde up 8.2%. New student starts totaled 5,480, up 18.5% YoY, with the UTI division generating 2,840 starts (up 19.6%) and Concorde 2,640 starts (up 17.2%). Profitability benefited from favorable operating leverage and ongoing cost optimization, producing adjusted EBITDA of $22.6 million, up 17.8% YoY, and net income of $7.8 million (EPS $0.14). Management updated fiscal 2024 guidance higher, targeting 25,500–26,500 starts, $720–$730 million revenue, and $102–$104 million in adjusted EBITDA, with an implied 14.2% midpoint margin. Looking into 2025, the company outlined a longer-term plan aiming for nearly $800 million in revenue and approximately 15% adjusted EBITDA margin, reflecting continued growth, program expansion, and optimization. Notable operational drivers include new program launches (e.g., dental hygiene, phlebotomy, sterile processing), stronger online and blended-learning capabilities, Houston campus unification, and expanded industry partnerships. The company remains vigilant regarding regulatory and macro headwinds (e.g., FAFSA simplification, DoE restrictions on Concorde growth) that could influence cadence but retains a constructive growth trajectory based on demand for skilled trades, healthcare-aligned programs, and an expanding partner ecosystem.

Key Performance Indicators

Revenue
Increasing
184.18M
QoQ: 5.43% | YoY: 12.43%
Gross Profit
Increasing
86.69M
47.07% margin
QoQ: 5.35% | YoY: 12.74%
Operating Income
Increasing
11.19M
QoQ: -21.35% | YoY: 88.13%
Net Income
Increasing
7.79M
QoQ: -25.05% | YoY: 123.76%
EPS
Increasing
0.14
QoQ: -22.22% | YoY: 240.63%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 207.45 0.21 +12.6% View
Q1 2025 201.43 0.40 +15.3% View
Q4 2024 196.36 0.34 +15.3% View
Q3 2024 177.46 0.09 +15.8% View
Q2 2024 184.18 0.14 +12.4% View