Universal Technical Institute Reports Fiscal Year 2019 Second Quarter Results
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Universal Technical Institute (UTI) Misses Q2 EPS by 9c; Offers FY19 Revenue Outlook
May 9, 2019 4:46 PM EDTUniversal Technical Institute (NYSE: UTI) reported Q2 EPS of ($0.26), $0.09 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $81.7 million versus the consensus estimate of $81.6 million.
Financial Results for the Three-Month Period Ended March 31 2019 Compared to 2018
Revenues increased 1.3% to $81.7 million, driven by higher average full-time enrollment. The increase occurred despite one less earning day compared to the prior year period.Operating expenses decreased by 2.4% to $87.3 million, primarily due to lower compensation and related costs and contract and professional services expense. This decline was partially offset by $1.25 million... More