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, Inc. (NYSE: UTI) generates a steady flow of news related to workforce education in transportation, skilled trades, electrical and energy fields, and healthcare. As a workforce solutions provider with two divisions—UTI and Concorde Career Colleges—the company regularly issues updates on financial performance, campus expansion, program launches and partnerships that shape its role in the educational services sector.
Investors and observers following UTI news will see announcements about quarterly and annual earnings, conference calls and financial outlooks, as reflected in recent press releases tied to fiscal year results and guidance. These items provide insight into enrollment trends, strategic investments and the progress of the company’s multi-year North Star strategy of growth, diversification and optimization.
News from the UTI division often covers new or expanded training offerings and campus developments. Examples include the planned expansion of the UTI-Dallas campus to add aviation, HVACR and electrical-related programs, and the announcement of new campuses in markets such as San Antonio, Atlanta and Salt Lake City, pending regulatory approvals. The division also highlights collaborations with manufacturers, such as Hyundai Motor America’s donation of electric vehicles for use in UTI’s Battery Electric Vehicle Technology course.
Concorde Career Colleges news focuses on healthcare education initiatives, including expanded respiratory therapy programs, partnerships with hospital systems and recognition of graduates and campuses by industry associations. Company communications also feature testimony before policymakers and efforts to support veterans and military-affiliated students.
This news page allows readers to follow these developments in one place, from financial disclosures and strategic updates to program-level stories and employer partnerships across UTI and Concorde.
Universal Technical Institute (UTI) has launched the BMW FastTrack technician training program at its Orlando, Florida campus. This 12-week program, in collaboration with BMW, prepares students with industry-specific training for BMW vehicles, covering technologies such as workshop, electrical, chassis, and drivetrain. Graduates can earn seven BMW factory credentials and may apply for further training in the BMW STEP program. UTI aims to address the growing need for skilled BMW technicians, enhancing job readiness for graduates while offering potential tuition reimbursement and incentives from BMW dealerships.
Universal Technical Institute (UTI) announced a new curriculum for its Ford FACT (Ford Accelerated Credential Training) program, focusing on electric vehicle (EV) repair and maintenance. The curriculum includes courses on High Voltage Systems Safety and Battery Electric Vehicle components, addressing the growing demand for skilled automotive technicians in the EV market. UTI has partnered with Ford for over 20 years, with 25,000 graduates from the program. The initiative aims to equip students with critical skills and certifications to meet the evolving needs of the automotive industry.
Universal Technical Institute (UTI) announced the acquisition of a 72% stake in its Lisle, Illinois campus from iStar Net Lease I LLC, achieving 100% ownership through its subsidiary, 2611 Corporate West Drive Ventures. The cash purchase price was $28.2M, along with assuming $18.5M in existing debt. This move supports UTI's long-term strategy of campus optimization, providing benefits in EBITDA and cash flow. The Lisle campus, which serves over 900 students, features advanced training programs and has room for more students, reinforcing UTI's commitment to quality education in automotive and diesel fields.
Universal Technical Institute (NYSE: UTI) reported substantial financial growth for Q1 FY2022, with revenue soaring 38% to $105.1 million. Average active undergraduate students rose by 16.2%, and net income reached $14.8 million, significantly up from $1.1 million in the prior year. The acquisition of MIAT College of Technology contributed to these results, with a focus on operational efficiency and expansion plans for new campuses in Austin and Miramar. Management anticipates continued strong growth despite potential impacts from COVID variants.
Universal Technical Institute (NYSE: UTI) announced it will report its first-quarter fiscal year 2022 results on February 3, 2022, after market close. CEO Jerome Grant and CFO Troy Anderson will host a conference call at 4:30 p.m. Eastern Time for discussion of the results and operational performance. Investors can access the call by dialing (844) 881-0138 domestically or (412) 317-6790 internationally, with a live webcast available on the company's investor relations website.
Lazydays Holdings has announced a leadership transition as William P. Murnane steps down as Chairman and CEO. Effective January 1, 2022, Robert DeVincenzi, currently the lead independent director, will take on the role of Interim CEO, while Christopher Shackelton becomes the new Chairman. Murnane's resignation was notified on December 22, 2021, with the transition date moved up from March 16 to January 1. The Board is engaging an executive search firm to find Murnane's successor. DeVincenzi aims for a seamless transition and intends to review the company's capital allocation strategy.
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Universal Technical Institute (UTI) and NAPA AUTO PARTS have established a partnership to enhance training for careers in the transportation and aftermarket auto repair sectors. NAPA will be the preferred supplier of auto parts for UTI's hands-on labs, providing essential components like brake kits and rotors. This collaboration aims to address the high demand for skilled technicians, with an estimated 110,000 new openings annually in the U.S. through 2030. UTI, founded in 1965, serves students across 14 campuses and focuses on quality education in various technical fields.
Universal Technical Institute (UTI) has partnered with Ignite Worldwide to offer $100,000 in tuition grants aimed at female and female-identifying students pursuing technical education and STEM careers. Applications are open until April 29, 2022, with winners announced on May 18, 2022. The scholarship initiative seeks to address the underrepresentation of women in STEM fields and responds to employer demand for skilled technicians. Grants range from $2,000 to $25,000 and are available for programs at UTI's campuses across multiple states.
Universal Technical Institute (NYSE: UTI) reported strong fiscal 2021 results with a 27.7% increase in Q4 revenue to $97.5 million and a full-year revenue of $335.1 million, up 11.4%. New student starts grew 6.8% in Q4 and 15.5% for the year. Q4 net income soared 86.7% to $12 million, with full-year net income reaching $14.6 million. The company expects fiscal 2022 revenue between $405 million and $420 million, with adjusted EBITDA of $50 million to $55 million. UTI's acquisition of MIAT College of Technology supports its growth strategy.
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