Universal Technical Institute Reports Fiscal Year 2019 Third Quarter Results
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Universal Technical Institute (UTI) Tops Q3 EPS by 11c; Raises FY19 Guidance
August 8, 2019 4:31 PM EDTUniversal Technical Institute (NYSE: UTI) reported Q3 EPS of ($0.07), $0.11 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $79.04 million versus the consensus estimate of $78.3 million.
Operating Results for the Three-Month Period Ended June 30 2019 Compared to 2018
New student starts, excluding the Norwood, MA campus, were up 11.9%; new student starts, including the Norwood, MA campus, were up 8.7%.Revenues increased 5.5% to $79.0 million compared to $74.9 million, driven by higher average full-time enrollment.Operating expenses decreased by 8.3% to $79.5 million compared to $86.7 million, primarily due to lower contract and professional... More