Highlights

  • Revenues for the quarter ended June 30, 2026 were $218.9 million, an increase of $14.6 million, or 7.2%.
  • Income from operations was $3.2 million, compared with $14.2 million, and net income was $2,279 thousand, or $0.04 per diluted share.
  • Total new student starts were 6,342 in the quarter, and average full-time active students were 25,131.
  • Management said it expects fiscal 2026 revenue of $893 million to $900 million and net income of $32 million to $36 million.

Universal Technical Institute, Inc. (NYSE: UTI) shares were trading at USD 22.62 on October 27, 2026, up 2.84%, with a relative volume at time of 3.03. The workforce education provider opened its San Antonio, Texas campus in March 2026, opened its Atlanta, Georgia campus in July 2026, and filed its 10-Q for the third quarter of fiscal 2026, the period ended June 30, 2026, on August 6, 2026.

Universal Technical Institute is a Delaware corporation with principal executive offices in Phoenix, Arizona. Founded in 1965, it offers education and training programs through two reportable segments, Universal Technical Institute and Concorde Career Colleges. UTI offers transportation and skilled trades training and operated 16 campuses in nine states at June 30, 2026, and 17 locations in 10 states after the July opening. Concorde operates 18 campuses in eight states and online, offering allied health, dental, nursing, patient care and diagnostic programs. The fiscal year ends September 30. The 10-Q does not state a headcount.

Third Quarter Fiscal 2026 Results

Revenues were $218.9 million for the three months ended June 30, 2026. UTI segment revenues were $138,015 thousand and Concorde segment revenues were $80,892 thousand. The company said both segment increases came primarily from higher average full-time active students and new program launches.

Total operating expenses were $215,662 thousand, against $190,146 thousand a year earlier. Educational services and facilities expenses were $118.3 million and selling, general and administrative expenses were $97.3 million. Income from operations was $3.2 million, against $14.2 million, and the company cited approximately $9.0 million of strategic growth expenses for new programs and campuses. Income before income taxes was $3,099 thousand, and net income was $2,279 thousand, compared with $10,663 thousand and $0.19 per diluted share a year earlier.

For the nine months ended June 30, 2026, revenues were $661.2 million, an increase of $48.0 million, or 7.8%. Income from operations was $19.3 million, compared with $58.5 million, and net income per diluted share was $0.28, compared with $0.80.

Liquidity and Capital

Aggregate liquidity at June 30, 2026 was $180.5 million, made up of cash and cash equivalents of $130.1 million, short-term investments of $40.1 million and $10.4 million of availability on the Revolving Credit Facility. The company said this was a decrease of $74.0 million from September 30, 2025, primarily from funding growth initiatives. Long-term debt outstanding was $160.3 million. Net cash provided by operating activities for the nine months was $17.4 million, compared with $40.2 million. In July 2026, the company used cash to repay $95.0 million outstanding on the Credit Facility. It does not pay a cash dividend on its common stock.

Campus Developments

The company announced four new campuses as part of Phase II of its North Star growth strategy: a UTI campus in Salt Lake City, Utah and Concorde campuses in Houston, Texas, Glendale, Arizona and Atlanta, Georgia. All are expected to open in 2027 pending regulatory approvals. Concorde relocated its Aurora, Colorado campus to Denver in June 2026 and plans to move its North Hollywood, California campus to Burbank, expected in fiscal 2027.

Fiscal 2026 Outlook

On the earnings call, management said it expects fiscal 2026 consolidated revenue of $893 million to $900 million, net income of $32 million to $36 million, and diluted earnings per share of $0.57 to $0.64. It expects adjusted EBITDA, a non-GAAP measure, of $100 million to $103 million, including approximately $35 million of growth investments, and total new student starts of 31,900 to 32,300. Management attributed the revision to fourth quarter UTI high school starts tracking below its initial outlook, and said it now expects approximately $110 million of capital expenditures this year.