Universal Technical Institute Stock Price, News & Analysis

Universal Technical Institute (UTI) announced plans to open a new campus in the Miami metropolitan area in 2022, making it the second campus in Florida and the 14th nationwide. The Miramar facility will cover approximately 100,000 square feet and offer programs in high-demand fields such as Automotive, Diesel, and Welding Technology. The new campus aims to enhance local training opportunities and is part of UTI's growth strategy, which includes acquiring MIAT College of Technology to broaden its program offerings. UTI expects positive financial returns from these expansions.

Universal Technical Institute (NYSE: UTI) will report its second-quarter fiscal 2021 results on May 6, 2021, after market close. The results will cover the period ending March 31, 2021. A conference call will be hosted by CEO Jerome Grant and CFO Troy Anderson at 4:30 p.m. ET to discuss the financial performance. Investors can participate via phone or a live webcast on UTI's investor relations website. UTI is a leading provider of technical training with over 220,000 graduates from its 12 campuses across the U.S.

The inaugural class of the Premier Truck Group Technician Skills Program, in collaboration with Universal Technical Institute, graduated at Fort Bliss, Texas, on April 1, 2021. This tuition-free, 12-week program aims to provide transitioning military service members with industry-aligned training for immediate employment in diesel-commercial technician roles. Eight graduates received Systems Certified Daimler Truck North America credentials, securing jobs across various locations. The next session is set to commence on April 19, 2021, further supporting veterans' career transitions.

Universal Technical Institute (NYSE: UTI) announced its acquisition of MIAT College of Technology from HCP & Company. The transaction, approved by both companies' boards, aims to expand UTI's educational offerings in high-demand fields such as aviation maintenance and welding. MIAT, which serves approximately 1,200 students, reported revenue of $25 million and adjusted EBITDA of $3.5 million in 2020, showing over 20% growth in revenue for the past two years. The acquisition will enhance UTI's market presence and align with emerging industry trends around sustainable energy and technological advancements.

Universal Technical Institute (NYSE: UTI) announced plans to open a new campus in Austin, Texas, set to launch in the second quarter of fiscal 2022. This will be UTI's thirteenth campus nationwide and third in Texas, following Houston and Dallas-Fort Worth. The new 100,000 square foot facility will support a blended-learning curriculum, with initial programs including Automotive, Diesel, and Welding Technology. UTI aims to enhance industry-aligned training and meet the rising demand for skilled technicians in the local market, continuing its growth and diversification strategy.

Universal Technical Institute (UTI) reported its fiscal Q1 2021 results, ending December 31, 2020. New student starts rose by 20.9% year-over-year, while average enrollments grew by 1.8%. However, revenues fell 12.7% to $76.1 million, attributed to a decrease in average revenue per student due to COVID-19 impacts. Adjusted free cash flow was $5.8 million, down from $7.0 million in the prior year. Despite the challenges, UTI remains optimistic about future growth driven by an enhanced focus on student outcomes and operational efficiency.

Universal Technical Institute (NYSE: UTI) announced the launch of its first agricultural training program, the Fendt® Technician Academy, in partnership with AGCO Corporation (NYSE: AGCO). Set to begin in Fall 2021 at UTI's Lisle, Illinois campus, the 12-week program will focus on training students in advanced techniques for Fendt machinery. This initiative addresses the growing demand for skilled tractor technicians, especially as the agriculture industry seeks qualified personnel. Graduates will receive multiple certifications upon completion.

Universal Technical Institute (UTI) announced the launch of its Welding Technology program at its Bloomfield, New Jersey campus, set to enroll students starting March 1, with classes beginning in July. Concurrently, a similar program will open at the Lisle, Illinois campus on February 22, showing strong student interest. UTI's welding programs address the high demand for skilled welders, projected by U.S. Bureau of Labor Statistics to offer over 488,000 jobs by 2028, with a median salary of $42,490.

Universal Technical Institute (UTI) has partnered with the American School Counselor Association (ASCA) to become its inaugural Alliance Partner. UTI has a long history of supporting school counselors, providing workshops since 2008 aimed at enhancing STEM education. This partnership aims to advocate for school counselors and promote UTI's training programs. UTI offers extensive training partnerships with over 30 manufacturers, leading to career opportunities and support for students, including tuition reimbursement and bonuses. Amidst rising unemployment, UTI remains committed to preparing graduates for in-demand jobs.