Universal Technical reports Q1 EPS 17c, consensus 4c

Reports Q1 revenue $174.7M, consensus $168.33M. Total new student starts of 4,346 with UTI contributing 2,314 representing 17.2% growth versus the prior year period, and Concorde contributing 2,032. “In 1Q24, we continued to outperform our financial expectations and advance our growth, diversification, and optimization strategy,” said Jerome Grant, CEO, “Across both divisions, we generated year-over-year new student start growth and made progress with launching and ramping new programs…Over the coming quarters, we are focused on increasing enrollment, revenue, and profit growth from our most recent program launches; enhancing the yield of our marketing and admissions investments; and optimizing our workforce and facilities utilization to drive improved margin expansion and operating leverage. Through our program expansions, and as we progress towards the next phases of our growth trajectory, we intend to continuously expand the depth and breadth of opportunities we provide for our students across the in-demand industries we serve.”