Universal Technical Institute ( (UTI) ) has released its Q4 earnings. Here is a breakdown of the information Universal Technical Institute presented to its investors.
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Universal Technical Institute, Inc. (NYSE: UTI) is a prominent provider of workforce solutions specializing in transportation, skilled trades, and healthcare education programs through its divisions Universal Technical Institute and Concorde Career Colleges.
Universal Technical Institute reported significant financial growth for fiscal year 2024, surpassing all key financial guidance metrics. The company’s revenue rose to $732.7 million, marking a 20.6% increase from the previous year, while net income surged by 240.9% to $42.0 million.
Key financial highlights include a 60.1% rise in adjusted EBITDA to $102.9 million and a notable increase in new student starts by 18.9%. The UTI division contributed $486.4 million in revenue, with the Concorde division adding $246.3 million. Operating expenses were well-managed, with a controlled increase despite program expansions.
Looking ahead, Universal Technical Institute has set an optimistic guidance for fiscal 2025, anticipating revenue between $800 and $815 million, and net income of $52 to $56 million. The company is entering Phase II of its North Star Strategy, aiming for continued growth and shareholder value.
The management remains confident in their strategic plan, focusing on growth, diversification, and optimization, positioning the company strongly for the upcoming fiscal year.
