Universal Technical Institute Inc
Q3 2026 Earnings
Includes $1.1 million in restructuring costs and $0.4 million in integration-related costs for completed acquisitions during the quarter
Market Reaction
S&P 500 over the same 30 days: −0.34%.
Did UTI Beat Earnings? Q3 2026 Results
Universal Technical Institute delivered a stronger-than-expected earnings result in fiscal Q3 2026, with GAAP EPS of $0.04 beating the $0.02 consensus by 118.58%, marking the company's fifth consecutive quarter of topping analyst EPS estimates. The reported figure includes $1.1 million in restructuring costs and $0.4 million in integration-related costs tied to completed acquisitions. Revenue rose 7.2% year over year to $218.91 million, falling just short of the $219.87 million consensus by 0.44%, as enrollment momentum, including a 10.9% surge in new student starts to 6,342, was partially offset by $9.0 million in strategic growth expenses tied to new campus launches and program expansions. Net income fell sharply to $2.28 million from $10.66 million a year ago as total operating expenses climbed 13.4%. Looking ahead, management trimmed full-year revenue guidance to $893-$900 million and adjusted EBITDA to $100-$103 million, attributing the revision to timing factors and softer high school starts rather than a weakening demand environment, while reaffirming long-term targets of exceeding $1.2 billion in revenue by fiscal 2029.
- Total new student starts grew 10.9% to 6,342, exceeding company expectations
- UTI division new student starts surged 23.4% year-over-year
- Average full-time active students increased 5.8% to 25,131
- Newer campuses outperforming launch models, including UTI-San Antonio and UTI-Atlanta
- Concorde revenue grew 11.1% year-over-year driven by 8.5% average student growth
- $9.0 million in strategic growth investments compressed margins
“Our third quarter results reinforce our confidence in both the demand environment for our students and the strength of the North Star strategy we've been executing. New student starts grew 11%, exceeding our expectations, driven by a robust performance from our UTI division. Additionally, our newer campuses continue to outperform, with UTI-San Antonio and UTI-Atlanta both tracking well ahead of their launch models, validating the diversification strategy we've been pursuing.”
Universal Technical Institute CEO, on the earnings call
Forward Guidance & Outlook
The company revised its FY2026 guidance downward: revenue of $893-$900 million (from $905-$915 million), net income of $32-$36 million (from $40-$45 million), diluted EPS of $0.57-$0.64 (from $0.71-$0.80), adjusted EBITDA of $100-$103 million (from $114-$119 million), and adjusted free cash flow of $(20)-$0 million (from $20-$25 million). New student starts outlook tightened to 31,900-32,300 (from 31,500-33,000). Management noted adjustments largely reflect timing and mix considerations rather than a change in underlying demand. The company expects approximately $110 million of cash capex and approximately $35 million of growth investments in FY2026. Long-term, the company targets surpassing $1.2 billion in revenue and approaching $220 million in adjusted EBITDA by FY2029, driven by a 10% revenue CAGR.
UTI YoY Financials
UTI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.