PHOENIX , Nov. 20, 2024 /PRNewswire/ -- Universal Technical Institute , Inc. (NYSE: UTI ), a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, reported financial results for the fiscal 2024 fourth quarter and the full year ended September 30, 2024 .
Universal Technical Institute , Inc. operates in two reportable segments, Universal Technical Institute (UTI) and Concorde Career Colleges (Concorde), and together with its segments and subsidiaries is referred to as the "Company," "we," "us" or "our." Met or surpassed fiscal year 2024 guidance ranges for all key financial metrics.
Full year revenue of $732.7 million in 2024, an increase of 20.6% over the prior year, with the UTI division contributing $486.
4 million and the Concorde division contributing $246.3 million . Full year net income was $42.
0 million , an increase of 240.9% over the prior year. Full year adjusted EBITDA (1) was $102.
9 million , an increase of 60.1% over the prior year. Full year total new student starts of 26,885, an increase of 18.
9% over the prior year, with UTI contributing 15,138 and Concorde contributing 11,747. Established fiscal 2025 full year guidance ranges including revenue of $800 - $815 million , net income of $52 -56 million and adjusted EBITDA of $120 - $124 million . "We concluded the first stage of our North Star Strategy in fiscal 2024 achieving both strong results and momentum," said Jerome Grant , CEO of Universal Technical Institu.