In This Story
Universal Technical Institute Inc (UTI-7.77%). has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $201,429,000 from $174,695,000 in the same quarter the previous year. This increase is attributed to higher student enrollment and new program rollouts.
Operating expenses for the quarter were $173,951,000, compared to $160,464,000 in the same quarter of the previous year. The increase in expenses is primarily due to costs associated with new programs and increased student volumes.
The company reported a net income of $22,153,000 for the quarter, compared to $10,389,000 in the previous year, with the increase attributed to higher revenues and operational efficiencies.
Cash provided by operating activities was $22,962,000, while cash used in investing and financing activities was $3,345,000 and $9,335,000, respectively.
Universal Technical Institute had a working capital of $230,873,000 as of December 31, 2024. The company continues to focus on expanding its program offerings and optimizing operational efficiencies.
The filing also details recent strategic initiatives, including the expansion of the HVACR program and the introduction of new electric vehicle courses.
Universal Technical Institute does not anticipate cash dividend payments to common stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Universal Technical Institute Inc quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.