Shares of Universal Technical Institute (UTI) soared 8.14% in after-hours trading on Wednesday, following the company's strong first quarter 2025 earnings results and the announcement of a major new training partnership with Tesla.

For the first quarter, UTI reported earnings per share of $0.40, easily beating analysts' consensus estimate of $0.18. Revenue of $201.43 million also surpassed expectations of $193.94 million. The better-than-expected financial performance likely contributed to UTI's stock rally.

However, the biggest catalyst driving UTI's surge was likely the news that the company will begin offering Tesla's START Collision Repair program at its Long Beach campus starting in Spring 2025. This 4-month intensive training program, previously only available internally at Tesla, will allow UTI graduates to be eligible for employment at Tesla's collision repair centers upon successful completion. The partnership highlights UTI's leadership in providing manufacturer-specific advanced training and positions it well to meet rising demand for skilled technicians in the electric vehicle space.