Universal Technical Institute Stock Price, News & Analysis

Universal Technical Institute (NYSE: UTI) announced the retirement of two board members, John C. White and Dr. Roderick R. Paige, effective November 30, 2020. White, a board member since 1997 and former Board Chairman, significantly shaped UTI’s educational model through partnerships with major automotive manufacturers. Dr. Paige, a board member since 2010 and former U.S. Secretary of Education, contributed to UTI’s strategic educational initiatives. Their departures mark a significant change for UTI, impacting leadership and possibly the company's direction.

Universal Technical Institute (NYSE: UTI) reported a strong turnaround in fiscal 2020, achieving net income of $8.0 million, compared to a loss of $7.9 million in the previous year. The fourth quarter net income rose by 17.8% to $6.5 million, supported by a 1.1% increase in new student starts to 5,772. Despite a 12.9% revenue decline to $76.3 million, liquidity improved to $114.9 million. UTI expects double-digit growth in student starts and revenue for fiscal 2021.

Universal Technical Institute (NYSE: UTI) and Premier Truck Group have launched a unique technician training program at Fort Bliss for service members transitioning to civilian careers. This 12-week, tuition-free program offers hands-on training in diesel-commercial vehicle technology, leading to employment opportunities and a Systems Certified Daimler Truck North America credential. Annually, 36-48 veterans are expected to graduate from this initiative. The program exemplifies UTI's commitment to addressing workforce shortages while supporting military personnel.

Universal Technical Institute (UTI) is scheduled to report its fiscal 2020 results on November 18, 2020, after market close.

CEO Jerome Grant and CFO Troy Anderson will discuss the results during a conference call at 4:30 p.m. Eastern Time on the same day.

UTI, a leading provider of transportation technician training with over 220,000 graduates in 55 years, operates 12 campuses across the U.S. For more details, investors can visit UTI's investor relations website.

The Porsche Technology Apprenticeship Program (PTAP), in partnership with Universal Technical Institute (UTI), reports a 100% job placement for its recent graduates at Porsche dealerships across multiple states, including Texas and Florida. This program, which covers tuition and housing costs, equips students with hands-on training on the latest Porsche vehicles. UTI emphasizes aligning education with employer needs, as highlighted by the success of its graduates during economic uncertainties. The recent graduating class transitioned to a blended learning model amid the pandemic, achieving immediate employment opportunities.

Universal Technical Institute (UTI) reports positive outcomes from its blended training model amidst the pandemic, aiding graduates in securing jobs. CEO Jerome Grant emphasizes the urgent demand for skilled technicians, supported by the U.S. Department of Labor's projections of over 110,000 annual job openings in related fields through 2028. UTI's transition to a blended learning format has enhanced training quality, leading to strong employment rates for graduates, including those who gained manufacturer-specific skills. This response positions UTI favorably in the evolving job market.

Universal Technical Institute (NYSE: UTI) is enhancing its educational model to better meet the demand for skilled workers through a hybrid learning initiative. This approach combines hands-on training with online instruction, increasing accessibility and relevance for students. CEO Jerome Grant emphasized the importance of this transformation in response to the COVID-19 pandemic. Dr. Jeff Bergin has been appointed Vice President to lead the initiative, leveraging his extensive experience in developing effective blended learning programs.

Universal Technical Institute (UTI) announced the expansion of its Welding Technology program to a seventh campus and significant cost savings through lease restructuring at its Sacramento campus. The expansion aims to meet the rising demand for skilled workers in essential industries, with over 488,000 job openings projected for welders by 2028. UTI will also reduce its Sacramento campus footprint by over 50%, leading to annual occupancy cost savings of approximately $3 million starting January 2022.

Universal Technical Institute (NYSE: UTI) announced that CEO Jerome A. Grant and CFO Troy R. Anderson will participate in four upcoming virtual investor conferences. These conferences include the Barrington Research Annual Fall Investment Conference on September 9, Colliers Securities Institutional Investor Conference on September 10, Lake Street Capital Markets Best Ideas Growth Conference on September 17, and Sidoti Fall Investor Conference on September 23-24. A webcast of the Sidoti presentation will be available on UTI's investor relations website.