Universal Technical Institute reported third-quarter revenue of $218.9 million, up 7.2% year-over-year, but lowered its full-year fiscal 2026 guidance due to an execution shortfall in high school starts and a faster-than-expected shift toward shorter skilled trades programs. The company now expects revenue of $893 million to $900 million and adjusted EBITDA of $100 million to $103 million, down from prior expectations. CEO Jerome Grant attributed the high school start miss to a deficit of admissions representatives in the field, which prevented engagement with interested students despite a 15% increase in lead flow, and said staffing has been increased by about 20% for the summer. New student starts overall grew 10.9% to 6,342, with the UTI division up 23%, and new campuses in Atlanta and San Antonio are outperforming launch models by 30% to 40%. The company remains confident in its fiscal 2029 targets of $1.2 billion in revenue and $220 million in adjusted EBITDA.
Universal Technical Institute IncLowered fiscal 2026 guidance due to high school start miss and shift to shorter programs.
