Universal Technical Institute raises fiscal 2024 guidance after Q2 revenue rises 12.4%
Universal Technical Institute reported fiscal 2024 second-quarter revenue of $184.2 million, up 12.4% from a year earlier, and net income of $7.8 million, up from $3.5 million. The company raised its full-year fiscal 2024 guidance for revenue, net income, diluted EPS and adjusted EBITDA, and gave initial fiscal 2025 projections that include revenue of nearly $800 million.
- Q2 revenue of $184.2 million, up 12.4% from $163.8 million; diluted EPS of $0.14 versus $0.04
- Fiscal 2024 revenue guidance raised to $720 million to $730 million from $710 million to $720 million
- Fiscal 2024 net income guidance raised to $37 million to $41 million from $36 million to $40 million
- Initial fiscal 2025 projections: revenue of nearly $800 million and adjusted EBITDA margin of approximately 15%