Revenue: As of FY2026 Q3, the actual value is USD 218.91 M, missing the estimate of USD 219.87 M.

EPS: As of FY2026 Q3, the actual value is USD 0.04.

EBIT: As of FY2026 Q3, the actual value is USD 3.494 M.

Overall Company Performance (FY2025)

Universal Technical Institute, Inc. (Universal 技术学院) reported a revenue of $835.6 million in FY2025, with net income reaching $63.0 million. Adjusted EBITDA for the same period was $126.5 million, and adjusted free cash flow was $56.0 million. Operating cash flow for FY2025 was $97.3 million, with capital expenditures at $42.0 million.

UTI Division (FY2025)

• Revenue: $542 million.
• Operating Income (Margin): $94 million (17.4%).
• Adjusted EBITDA (Margin): $121 million (22.2%).
• Average Enrollment: Approximately 15,000 students.

Concorde Division (FY2025)

• Revenue: $294 million.
• Operating Income (Margin): $36 million (12.3%).
• Adjusted EBITDA (Margin): $44 million (15.1%).
• Average Enrollment: Approximately 10,000 students.

Consolidated Financial Highlights (Q3 FY2026 vs. Q3 FY2025)

Net Income

Net income was $2.3 million, representing a -78.6% year-over-year (YoY) decrease from $10.7 million in Q3 FY2025.

Income from Operations

Income from operations totaled $3.2 million, a -77.1% YoY decrease from $14.2 million in Q3 FY2025. The operating margin was 1.5% in Q3 FY2026, down from 6.9% in Q3 FY2025. The UTI segment’s income from operations was $5.8 million with a 4.2% margin, while the Concorde segment reported $3.2 million with a 4.0% margin.

Operating Expenses

Total operating expenses increased by 13.4% YoY to $215.7 million from $190.1 million in Q3 FY2025. Educational services and facilities expenses were $118.3 million, up 12.0% YoY, and selling, general and administrative expenses were $97.3 million, up 15.1% YoY.

Adjusted EBITDA

Adjusted EBITDA was $18.2 million, a -27.8% YoY decrease from $25.3 million in Q3 FY2025. The Adjusted EBITDA margin was 8.3% in Q3 FY2026, down from 12.4% in Q3 FY2025. The UTI segment’s Adjusted EBITDA was $14.3 million with a 10.3% margin, and the Concorde segment’s was $6.4 million with a 7.9% margin.

Cash Flow

Operating cash flow was $10.3 million, a -42.8% YoY decrease from $18.1 million in Q3 FY2025. Adjusted free cash flow was -$21.4 million, compared to $7.0 million in Q3 FY2025. Purchases of property and equipment increased by 152.0% YoY to $28.2 million, and capitalized costs for intangible assets were $3.2 million, up from $0 in Q3 FY2025.

Consolidated Financial Highlights (YTD 9 Mos. FY2026 vs. YTD 9 Mos. FY2025)

Net Income

Net income was $15.5 million, marking a -64.9% YoY decrease from $44.3 million in YTD FY2025.

Income from Operations

Income from operations was $19.3 million, a -67.0% YoY decrease from $58.5 million in YTD FY2025. The operating margin was 2.9% in YTD FY2026, down from 9.5% in YTD FY2025. The UTI segment’s income from operations was $25.845 million, and the Concorde segment’s was $6.761 million.

Operating Expenses

Total operating expenses increased by 15.7% YoY to $641.9 million from $554.7 million in YTD FY2025. Educational services and facilities expenses were $346.2 million, up 12.3% YoY, and selling, general and administrative expenses were $295.7 million, up 20.0% YoY.

Adjusted EBITDA

Adjusted EBITDA was $59.5 million, a -33.6% YoY decrease from $89.7 million in YTD FY2025. The Adjusted EBITDA margin was 9.0% in YTD FY2026, down from 14.6% in YTD FY2025. The UTI segment’s Adjusted EBITDA was $48.338 million, and the Concorde segment’s was $14.730 million.

Cash Flow

Operating cash flow was $17.4 million, a -56.7% YoY decrease from $40.2 million in YTD FY2025. Adjusted free cash flow was -$65.6 million, compared to $15.0 million in YTD FY2025. Net cash used in investing activities was -$79.738 million, compared to -$78.273 million in YTD FY2025. Net cash provided by financing activities was $64.137 million, compared to net cash used of -$56.026 million in YTD FY2025.

Other Key Metrics

Total Full-Time Active Students grew 5.8% YoY to 25,131. Total available liquidity was $180.5 million, including $40.1 million of short-term investments and $10.4 million of remaining capacity on the revolving credit facility. New student starts for UTI increased by 23.4% YoY to 3,491, while Concorde experienced a -1.4% YoY decline with 2,851 new student starts. The gross leverage ratio as of June 30, 2026, was 1.66x, and the net leverage ratio was -0.10x.

Outlook / Guidance

Universal Technical Institute, Inc. (Universal 技术学院) projects FY2026 revenue guidance between $893 million and $900 million, with net income expected to be between $32 million and $36 million, and Adjusted EBITDA between $100 million and $103 million. The company anticipates FY2026 adjusted free cash flow to be between -$20 million and $0. By fiscal 2029, the company aims to surpass $1.2 billion in annual revenue and approach $220 million in Adjusted EBITDA, supported by its strategic targets.