Universal Technical Institute Inc. (NYSE:UTI) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.94%.
Universal Technical Institute Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.04 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 10.49% to $95.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Universal Technical Institute Inc. reported adjusted EPS loss of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $95.68 million.
Quoting Management: “Due to current conditions, we have made choices that balance cost containment with ‘return to growth’ initiatives which negatively impacted second quarter financial results,” said Kim McWaters, chief executive officer. “While the next few quarters will continue to be challenging, I am encouraged that we have seen some early indications of improved student interest and internal efficiencies. Our manufacturer partners continue to increase their demand for graduates and as their demand increases, supply of students should follow.”
Key Stats (on next page)…