Welcome to our dedicated page for Universal Technical Institute news (Ticker: UTI), a resource for investors and traders seeking the latest updates and insights on Universal Technical Institute stock.
Universal Technical Institute (UTI) delivers career-focused education in transportation systems, skilled trades, and healthcare professions. This news hub provides investors and industry observers with timely updates on UTI's operational milestones, financial performance, and strategic initiatives.
Access official press releases, earnings announcements, and partnership developments in one centralized location. Our curated feed includes updates on campus expansions, manufacturer training collaborations, and regulatory filings essential for tracking UTI's market position.
Key coverage areas include quarterly financial results, accreditation updates, workforce program launches, and leadership appointments. All content is sourced directly from company communications to ensure reliability.
Bookmark this page for streamlined access to UTI's evolving story in technical education. Check back regularly for unfiltered updates on initiatives shaping workforce development across automotive, energy, and healthcare sectors.
Universal Technical Institute (UTI) announced the purchase of three buildings at its Orlando campus for $26 million. This acquisition, funded from cash reserves, follows the successful consolidation of its UTI-Orlando and MMI-Orlando sites in 2022. The purchase is expected to generate an annual adjusted EBITDA benefit of approximately $2 million and after-tax cash savings of about $500,000. UTI aims to optimize its real estate footprint while adapting to the growing vocational needs in Florida.
On March 10, 2023, Senator London Lamar addressed the graduating class at Concorde Career College in Memphis, encouraging young health care professionals to contribute to their communities. Senator Lamar emphasized the importance of representation in health care, noting that Black women constitute a mere 6.9% of the national workforce and only 13.7% of the health care industry. She shared her personal journey and commitment to uplifting underserved communities through legislation aimed at combating human trafficking and increasing access to health care. Concorde Career Colleges, part of Universal Technical Institute (NYSE: UTI), operates 17 campuses focused on health care education.
Universal Technical Institute (UTI) has appointed Michael A. Slubowski as an independent director to its Board, effective March 1, 2023. This strategic addition aims to enhance UTI's focus on healthcare education and training following its December 2022 acquisition of Concorde Career Colleges, which added 17 campuses to its operations. Slubowski brings over 45 years of healthcare experience and executive leadership, which will support UTI’s goals to address the growing demand for skilled healthcare workers in the $4 trillion U.S. healthcare market. This leadership change aligns with UTI's commitment to diversify its Board and strengthen industry partnerships.
Universal Technical Institute (UTI) reported financial results for Q1 FY2023, revealing revenues of $120 million, up 14.2% year-over-year, attributed largely to the acquisition of Concorde Career Colleges, which contributed $14.4 million. However, net income fell to $2.6 million from $14.8 million in the prior year. Operating expenses increased by 26.3% to $115.6 million. UTI reaffirmed its full-year guidance, aiming for revenues exceeding $700 million and Adjusted EBITDA approaching $100 million in FY2024. Despite challenges, UTI remains optimistic about future growth, including plans for new programs and ongoing integration of Concorde.
Universal Technical Institute (NYSE: UTI) will report its first-quarter fiscal year 2023 results on February 8, 2023, after market close. The results will be discussed in a conference call at 4:30 p.m. Eastern Time the same day, hosted by CEO Jerome Grant and CFO Troy Anderson. Investors can participate via telephone or a live webcast on the investor relations website. UTI provides educational programs in transportation, skilled trades, and healthcare, operating 16 campuses across 9 states. Significant focus will be on financial performance and operating metrics during the upcoming call.
Universal Technical Institute (UTI) reported strong financial results for fiscal 2022, achieving $418.8 million in revenue, a 25.0% increase year-over-year. Full-year net income rose to $25.8 million, while Q4 net income dropped to $2.8 million, down 76.5% from the prior year. Adjusted EBITDA for the year was $55.9 million, a 71.8% increase. New student starts for 2022 were 13,374, up 2.7%. UTI provided fiscal 2023 guidance with revenue expectations of $595 - $610 million, incorporating the Concorde acquisition.
Universal Technical Institute (UTI) has completed a $50 million acquisition of Concorde Career Colleges, significantly expanding its footprint in the healthcare education market. This strategic move allows UTI to serve over 20,000 students across 14 states and enhances its offerings in critical healthcare training, addressing workforce shortages. Concorde, which reported approximately $200 million in revenue and $17 million in adjusted EBITDA for the trailing twelve months ending September 30, 2022, will now operate as a distinct division under UTI's umbrella.
Universal Technical Institute (UTI), in collaboration with BMW of North America and Premier Truck Group, has successfully transitioned military members to civilian roles as automotive and diesel technicians through on-base training programs. Initiated in 2018 at Camp Pendleton, the programs now expand to additional bases, including Fort Bragg and Fort Bliss. The BMW MSTEP program offers specialized training, leading to employment at authorized dealerships, while Premier Truck Group's Diesel Tech Career Program has successfully placed 40 veterans since its launch in 2021.
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