Universal Technical reports Q2 EPS 14c, consensus 15c

Reports Q2 revenue $184.2M, consensus $177.16M. Reports Q2 total new student starts of 5,480 representing 18.5% growth versus the prior year period. “We maintained our momentum in the second quarter, demonstrating strong market demand across our growing program footprint,” said Jerome Grant, CEO. “We generated double-digit start growth in both divisions, including contributions from our newest programs. The next phases of our program expansions have remained on or ahead of schedule…In addition to our progress with growth and optimization, we expect to continue advancing our organic diversification initiatives in the second half of fiscal 2024 and beyond. This work includes the consideration of expanding our campus footprint into new geographies; continuing to expand the reach of our existing programs and explore the addition of new program offerings to our portfolio; and continuing to add new industry relationships to our partner base. In addition, we continue to evaluate potential inorganic growth opportunities to enhance our multi-divisional foundation.”