Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| This work enhances the benefits of the initiatives we put into place over the past year as well as the overall strength and efficiency of our growing platform |
| Thus, we continue to anticipate having fewer adjustments and expect to generate strong unadjusted free cash flow for the fiscal year |
| Is that prior to the acquisition, Concorde did a great job filling their campuses and really focused on the local community and the programs that were taught on each individual campus and strong outcomes, strong employer connections, really deep embedding into the community, but not particularly strong in online |
| And then the last place where I think is a significant amount of upside and the differentiated that Concorde will have as well is in acceleration of growth within their online programs |
| And so unleashing the upside from a marketing and demand generation standpoint is going very, very well |
| We have also made rapid progress on our growth and diversification objectives and we have entered this fiscal year as a robust multi divisional company poised for continued growth and with each division priding themselves on maintaining a strong track record of superior student graduation rates and employment outcomes |
| Our excellent performance is made possible by the dedication of our faculty, staff and students across Concord and the UTI division, along with support from our corporate teams |
| So we're really excited and pleased with the performance of the team |
| We're super pleased with the acquisition end the performance of the Concord team, Jerome commented on Kevin Crane and him being now the Division President, named officially the Division President and haven't missed a beat there |
| We also have continued to strengthen our corporate and divisional leadership teams |
| So, we're still, we made a great progress last year |
| I'm confident that she will contribute at a very high level to our mission and I'm proud to welcome her to the Company |
| And so just a bit better monetization out of the coming out of Q4 into Q1, a little bit better persistence and lower attrition on the installed base as you said, and we continue to feel good about the performance for the remainder of the year on that |
| We'll continue to benefit the top line over the next few quarters, whereas once we start seeing growth, let's say, starts are in the 3% to 5% range, just in a low to mid single digit general type of guide |
| And so the strong growth we exited last year with and the strong growth that we have in the first half of this year |
| It will bounce around a bit from quarter to quarter, again, because of smaller numbers, but we have been very pleased with the military growth certainly in the last several quarters |
| Market demand for our healthcare programs remained strong through the Q1 |
| So you have the reps and a core group of financial aid representatives working together across the whole portfolio of prospective students and we're seeing the benefits of those actions in the military growth rate |
| So good growth there as well |
| We're making good progress |
| In the UTI division, we've continued to accelerate our year-over-year start growth in Q1 and ramp our newest programs |
| Demand for these newest programs has remained strong with almost 400 combined student starts across the 14 programs over the last two quarters |
| We're encouraged by the early returns from these programs and we're making good progress growing the enrollments and pipeline |
| So we're still seeing really strong progress on the local side, continuing to penetrate more deeply in the local space, especially with the new program offerings, helping to drive that relocation |
| This process will also help future students complete certain programs more quickly and strengthen UTI's position as a dominant provider of Career and Technical Education solutions in the Houston market, a market in which we've operated for over 40 years |
| This is upside for Concord because prior to us owning them last year, they did a very, very good job of cultivating local opportunities for their graduates |
| On the health care side, the Concorde is very, very strong in the dental fields |
| And so our aviation programs have done very, very well and in most cases, exceeded our expectations for the initial cohorts that have started in the group |
| And this enhanced visualization enables higher quality dental services and patient experiences |
| The need for aviation tax is also very, very strong |
| Statement |
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| Steve Frankel And then another challenge, especially when inflation was at its peak, with convincing students to relocate |
| Not to say that the other programs are not doing well |
| Obviously, with the no change in the new student starts, this is coming down to sort of the installed base of students outperforming |
| In just one example, in the healthcare area, we were incredibly blessed with Allied Health and dental in the Concorde acquisition, but a very small number of their students and small number of campuses are actually in nursing |
| Was there anything that led to that that you would call out? Jerome Grant Well, we have a traditionally Q1 dips because of the holidays |
| We did dip relative to the prior year, because of the acquisition of Concorde |
| Steve Frankel And then, the last one, at least relative to the way I modeled it, the revenue per head at the core UTI or the legacy UTI business was a little or than I thought |
| Where is and I see that the operating expenses are 400 basis points about lower than last year |
| Our cash CapEx of $3.8 million for the quarter was a bit lighter than we expected due to spend timing, but we still expect approximately $30 million of CapEx for the full year |
| But now that we've taken control |
| Mostly timing, we didn't ramp expenses quite as fast as we thought would |
| Our bias is to continue down the path of the growth case and initiatives we've been embarking upon the last few years |
| We would most likely be above a 2 again this year as a kind of a temporary blip |
| Look, we're still seeing, I would say it's been moderated the last few quarters |
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