--- title: "Universal Tech | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 221.4 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285477136.md" datetime: "2026-05-07T03:12:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285477136.md) - [en](https://longbridge.com/en/news/285477136.md) - [zh-HK](https://longbridge.com/zh-HK/news/285477136.md) --- # Universal Tech | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 221.4 M Revenue: As of FY2026 Q2, the actual value is USD 221.4 M, beating the estimate of USD 221.02 M. EPS: As of FY2026 Q2, the actual value is USD 0.01, beating the estimate of USD 0. EBIT: As of FY2026 Q2, the actual value is USD 272 K. ### Consolidated Financials #### For the Three Months Ended March 31, 2026, Compared to March 31, 2025 - **Net Income**: Universal Technical Institute, Inc. reported net income of $0.4 million for the three months ended March 31, 2026, a decrease of $11.0 million compared to $11.4 million in the prior comparable period, primarily due to strategic growth expenses . This represents a -96.2% change year-over-year . - **Adjusted EBITDA**: Adjusted EBITDA decreased by 51.0% to $14.1 million for the three months ended March 31, 2026, compared to $28.9 million in the prior comparable period, due to $11 million in strategic growth investments . Baseline adjusted EBITDA was reported at $25.1 million . - **Operating Expenses**: Total operating expenses increased by 16.0% to $221.1 million for the three months ended March 31, 2026, from $190.6 million in the prior comparable period, primarily due to growth in average full-time active students and strategic growth expenses . Educational services and facilities expenses rose 14.6% to $117.4 million from $102.5 million, and selling, general and administrative expenses increased 17.6% to $103.6 million from $88.1 million . - **Operating Income**: Operating income was $0.3 million for the three months ended March 31, 2026, compared to $16.9 million in the prior comparable period, primarily due to strategic growth expenses . This is a decline of -98.0% . - **Operating Margin**: The operating margin was 0.2% for Q2 FY2026, a decrease from 8.1% in Q2 FY2025 . - **Income Tax Benefit (Expense)**: Income tax benefit was $50 thousand for the three months ended March 31, 2026, compared to an expense of - $5,388 thousand in the prior comparable period . #### For the Six Months Ended March 31, 2026, Compared to March 31, 2025 - **Net Income**: Net income decreased by 60.5% to $13.3 million for the six months ended March 31, 2026, compared to $33.6 million in the prior comparable period, primarily due to strategic growth expenses . - **Adjusted EBITDA**: Adjusted EBITDA decreased by 35.9% to $41.3 million for the six months ended March 31, 2026, compared to $64.4 million in the prior comparable period, due to approximately $19 million in strategic growth investments . - **Operating Expenses**: Operating expenses increased by 16.9% to $426.2 million for the six months ended March 31, 2026, compared to $364.5 million in the prior comparable period, driven by growth in average full-time active students and costs associated with new campus launches and program expansions . - **Operating Income**: Operating income decreased by 63.8% to $16.0 million for the six months ended March 31, 2026, compared to $44.3 million in the prior comparable period, primarily due to strategic growth expenses . - **Income Tax Benefit (Expense)**: Income tax expense was - $3,335 thousand for the six months ended March 31, 2026, compared to - $10,764 thousand in the prior comparable period . ### Segment Financials #### For the Three Months Ended March 31, 2026, Compared to March 31, 2025 - **UTI Segment**: - Net income was $3,399 thousand in 2026, down from $16,468 thousand in 2025 . - Adjusted EBITDA was $11,321 thousand in 2026, down from $24,204 thousand in 2025 . - Total operating expenses were $138,534 thousand in 2026, up from $116,501 thousand in 2025 . - Income from Operations was $4.2 million, down from $17.7 million . - Operating Margin was 2.9%, down from 13.2% . - Adjusted EBITDA Margin was 7.9%, down from 18.0% . - **Concorde Segment**: - Net income (loss) was - $245 thousand in 2026, down from $3,725 thousand in 2025 . - Adjusted EBITDA was $2,156 thousand in 2026, down from $5,809 thousand in 2025 . - Total operating expenses were $78,884 thousand in 2026, up from $69,449 thousand in 2025 . - Income (Loss) from Operations was - $0.2 million, compared to an income of $3.8 million . - Operating Margin was -0.3%, down from 5.2% . - Adjusted EBITDA Margin was 2.7%, down from 7.9% . - **Corporate Segment**: - Net income (loss) was - $2,721 thousand in 2026, an improvement from - $8,747 thousand in 2025 . - Adjusted EBITDA was $669 thousand in 2026, an improvement from - $1,116 thousand in 2025 . - Total operating expenses were $3,645 thousand in 2026, down from $4,644 thousand in 2025 . #### For the Six Months Ended March 31, 2026, Compared to March 31, 2025 - **UTI Segment**: - Net income was $18,404 thousand in 2026, down from $37,876 thousand in 2025 . - Adjusted EBITDA was $34,059 thousand in 2026, down from $53,161 thousand in 2025 . - Total operating expenses were $265,525 thousand in 2026, up from $225,445 thousand in 2025 . - **Concorde Segment**: - Net income was $3,554 thousand in 2026, down from $10,508 thousand in 2025 . - Adjusted EBITDA was $8,330 thousand in 2026, down from $14,410 thousand in 2025 . - Total operating expenses were $153,093 thousand in 2026, up from $132,587 thousand in 2025 . - **Corporate Segment**: - Net income (loss) was - $8,698 thousand in 2026, an improvement from - $14,785 thousand in 2025 . - Adjusted EBITDA was - $1,095 thousand in 2026, an improvement from - $3,169 thousand in 2025 . - Total operating expenses were $7,602 thousand in 2026, up from $6,513 thousand in 2025 . #### Segment-Specific Financials (FY2025) - **UTI Division (Transportation, Energy, & Skilled Trades)**: - Revenue: $542 million. - Operating Income (Margin): $82 million (15.2%). - Adjusted EBITDA (Margin): $108 million (20.0%). - Average Students: ~15,000. - Program Mix (Revenue): Auto/Diesel 63%, Other Transportation 12%, Welding 10%, Other Skilled Trades 8%, and Industry Training 6%. - **Concorde Career Colleges Division (Healthcare)**: - Revenue: $294 million. - Operating Income (Margin): $17 million (5.7%). - Adjusted EBITDA (Margin): $25 million (8.5%). - Average Students: ~10,000. - Program Mix (Revenue): Dental 26%, Medical Assisting 22%, Other Allied Health 25%, Nursing 16%, Diagnostic 8%, and Health Services Management 3%. ### Cash Flow #### For the Three Months Ended March 31, 2026, Compared to March 31, 2025 - **Operating Cash Flow**: Operating cash flow was $4.0 million, a decrease of -605.1% from - $0.8 million in the prior year . - **Adjusted Free Cash Flow**: Adjusted free cash flow was - $25.0 million, a 128.8% increase from - $10.9 million in the prior year . - **Capital Expenditures**: Capital expenditures significantly increased by 177.9% to $30.4 million, up from $10.9 million . #### For the Six Months Ended March 31, 2026, Compared to March 31, 2025 - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $7,069 thousand in 2026, a decrease from $22,173 thousand in 2025 . This is a -68.1% decrease from $22.2 million . - **Free Cash Flow**: Free cash flow was - $45,592 thousand in 2026, compared to $7,881 thousand in 2025 . - **Adjusted Free Cash Flow**: Adjusted free cash flow was - $44,152 thousand in 2026, compared to $7,997 thousand in 2025 . This is a -652.1% change from $8.0 million . - **Cash Capital Expenditures (Capex)**: Cash capital expenditures were $52.7 million as of March 31, 2026, driven by investments in new campuses, program expansions, and equipment . Capital expenditures were $52.7 million, a 268.5% increase from $14.3 million . - **Net Cash Used in Investing Activities**: Net cash used in investing activities was - $83,446 thousand in 2026, compared to - $53,983 thousand in 2025 . - **Net Cash Provided by (Used in) Financing Activities**: Net cash provided by financing activities was $35,854 thousand in 2026, compared to net cash used in financing activities of - $35,149 thousand in 2025 . #### Projected Cash Flow - **Operating Cash Flow**: - FY2024: $85.9 million. - FY2025: $97.3 million. - FY2026E: ~$116.5 million. - **Capital Expenditures (Purchase of property and equipment)**: - FY2024: - $24.3 million. - FY2025: - $42.0 million. - FY2026E: ~- $100.0 million. - **Adjusted Free Cash Flow**: - FY2023: $49.1 million. - FY2024: $73.5 million. - FY2025: $56.0 million. - FY2026E: $20-$25 million. - FY2029E: Approaching $120 million. ### Balance Sheet #### As of March 31, 2026, Compared to September 30, 2025 - **Total Available Liquidity**: Total available liquidity was $202.4 million as of March 31, 2026, comprising $87.2 million in cash and cash equivalents, $74.8 million in short-term investments, and $40.4 million available from the revolving credit facility . - **Cash and Cash Equivalents**: Cash and cash equivalents were $87,233 thousand as of March 31, 2026, down from $127,361 thousand as of September 30, 2025 . - **Short-term Investments**: Short-term investments increased to $74,750 thousand as of March 31, 2026, from $41,784 thousand as of September 30, 2025 . - **Total Debt**: Total debt was $130.7 million as of March 31, 2026, including $65.0 million drawn on the revolving credit facility . Long-term debt increased to $127,781 thousand as of March 31, 2026, from $84,234 thousand as of September 30, 2025 . - **Gross Leverage Ratio**: As of March 31, 2026, the gross leverage ratio was 1.27x, based on current loan balances of $130.7 million and LTM EBITDA of $103.3 million . - **Net Leverage Ratio**: The net leverage ratio was -0.30x . ### Operational Metrics #### For the Three Months Ended March 31, 2026, Compared to March 31, 2025 - **Total New Student Starts**: Total new student starts increased by 13.8% to 7,569 for the three months ended March 31, 2026, compared to 6,650 in the prior comparable period . - UTI segment new student starts increased by 14.5% to 4,110 . - Concorde segment new student starts increased by 13.1% to 3,459 . - **Average Full-Time Active Students**: Average full-time active students increased by 7.2% to 26,385 for the three months ended March 31, 2026, compared to 24,604 in the prior comparable period . - UTI segment average full-time active students increased by 5.3% to 15,556 . - Concorde segment students increased by 10.2% to 10,829 . - **End of Period Full-Time Active Students**: End of period full-time active students increased by 6.3% to 26,405 for the three months ended March 31, 2026, compared to 24,851 in the prior comparable period . - **Revenue per Student**: - UTI Segment: Revenue per student grew by 1.1% to $9,200 . - Concorde Segment: Revenue per student decreased by -1.4% to $7,300 . #### For the Six Months Ended March 31, 2026, Compared to March 31, 2025 - **Total New Student Starts**: Total new student starts for the six months ended March 31, 2026, were 13,018, an 8.8% increase from 11,963 in the prior comparable period . - **Average Full-Time Active Students**: Average full-time active students for the six months ended March 31, 2026, were 26,622, a 7.2% increase from 24,834 in the prior comparable period . #### Projected Operational Metrics - **New Student Starts**: - FY2023: 22,613. - FY2024: 26,885. - FY2025: 29,793. - FY2026E: 31,500-33,000. - **Average Active Students**: Over 25,000. - **Campuses**: 34 campuses nationwide, with 5 additional campuses announced. - **Program Offerings**: Over 35 programs. - **Graduate Employment Rate**: 4 out of 5 graduates employed within 1 year. ### Outlook / Guidance Universal Technical Institute, Inc. is reaffirming its full-year guidance across all metrics for fiscal 2026 and remains confident in achieving its North Star objectives, including faster scaling, improved utilization, and stronger long-term returns with predictable cash flows and increasing profits . The company anticipates surpassing $1.2 billion in annual revenue and approaching $220 million in adjusted EBITDA by fiscal 2029 . For fiscal year 2026, Universal 技术学院 provides guidance including $905-$915 million in revenue, $40-$45 million in net income, $114-$119 million in adjusted EBITDA, $20-$25 million in adjusted free cash flow, and 31.5k-33.0k new student starts . ### Related Stocks - [UTI.US](https://longbridge.com/en/quote/UTI.US.md) ## Related News & Research - [Universal Technical Institute Insider Sold Shares Worth $548,801, According to a Recent SEC Filing](https://longbridge.com/en/news/286383697.md) - [Universal Technical Institute Shareholders Back Board and Pay](https://longbridge.com/en/news/279673630.md) - [Capital City Bank Group posts Q1 2026 investor presentation on website](https://longbridge.com/en/news/286599786.md) - [Apollo Clarifies Legal Status of Recent 8-K Disclosure](https://longbridge.com/en/news/286564452.md) - [Universal Technical Institute CEO Sells Over 60,000 Shares](https://longbridge.com/en/news/277540441.md)