Universal Technical Institute (UTI) Reports In-Line Q3 EPS, Revenues Beat

Universal Technical Institute (NYSE: UTI) reported Q3 EPS of $0.03 versus the consensus of $0.03 Revenue for the quarter came in at $83.8 million versus the consensus estimate of $81.6 million.

"We delivered exceptionally strong double-digit growth across our key operating metrics this quarter and returned to profitability as the dramatic impacts from the pandemic, which inhibited our business in the comparable quarter last year, have largely diminished," said Jerome Grant, UTI's Chief Executive Officer. "Notably, our active student population and revenue have rebounded and exceed fiscal 2019 pre-pandemic levels. We are very optimistic for the future of the business and look forward to closing out 2021 positively and bringing our momentum forward into our next fiscal year.\"

Grant continued, "Over the past several years we have built a platform that should enable us to consistently grow our core business, regardless of the economic environment. Additionally, our blended learning model provides essential flexibility for our students and teaches them in-demand technology skills that employers are looking for, all while providing additional efficiencies for our business. This platform and innovative teaching model, coupled with our ongoing growth and diversification initiatives, will allow us to continue to expand our value proposition and help us reach our ultimate goal of providing significantly more students the opportunity to pursue careers in high-demand fields."

For earnings history and earnings-related data on Universal Technical Institute (UTI) click here.

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