Universal Technical Institute Stock Price, News & Analysis

Universal Technical Institute, Inc. (NYSE: UTI), a leading workforce solutions education provider, has announced its upcoming investor marketing schedule. The company's management team will participate in several events to showcase its strong momentum and recently announced Phase Two of its North Star Strategy. These events include:

• Rosenblatt 4th Annual Technology Summit (August 19)
• Annual Gateway Conference (September 4)
• Lake Street Non-Deal Roadshows (September 23 and October 1)

CFO Troy Anderson highlighted the company's strong fiscal third quarter results and expressed excitement about sharing their compelling long-term organic growth strategy with the investment community. The company aims to increase shareholder value through sustained revenue growth and expanded profitability over the next five years.

Universal Technical Institute (NYSE: UTI) reported fiscal Q3 2024 results.

Revenue rose by 15.8% to $177.5 million, driven by a 13.4% increase in average undergraduate full-time students and a 5.0% increase in new student starts. Net income was $5.0 million and adjusted EBITDA increased 60.9% to $18.4 million.

Revenue and new student starts are expected to be at the higher end of the full-year guidance range. The company reiterated initial projections for fiscal 2025 with expected revenue of nearly $800 million and an adjusted EBITDA margin of approximately 15%.

Strong performance is attributed to the North Star Strategy, aiming for an average annual revenue growth of 10% and adjusted EBITDA margin approaching 20% by fiscal 2029. Plans include launching a minimum of six new programs and opening at least two new campuses annually, starting from fiscal 2025 and fiscal 2026 respectively.

Operating expenses rose by 11.4% to $170.0 million. UTI segment revenue increased 16.1% to $117.1 million, while Concorde segment revenue increased 15.0% to $60.3 million.

Universal Technical Institute, Inc. (UTI) has announced the next phase of its 'North Star Strategy' to accelerate growth, diversification, and optimization. The strategy aims to deliver approximately 10% revenue CAGR and expand Adjusted EBITDA margin to nearly 20% through fiscal 2029. UTI plans to launch a minimum of six new programs annually at existing campuses starting in fiscal year 2025 and open at least two new campuses each year between fiscal years 2026 and 2029. The company has already achieved significant milestones, including nearly tripling campus locations, doubling student numbers and revenue, and increasing profitability by more than five times since the strategy's first phase began five years ago.

Concorde Career Colleges, part of Universal Technical Institute (UTI), and Heartland Dental have announced a groundbreaking partnership to develop a co-branded campus for dental hygiene and dental assistant programs. The first campus, set to open in fall 2025 in Fort Myers, Florida, will train up to 190 dental professionals annually. Heartland Dental, with over 23,000 employees across 1,750+ supported dental offices, is funding the construction and providing scholarships. This partnership aims to address the significant demand for dental hygienists and assistants in Heartland Dental-supported practices.

The collaboration builds on an existing alliance between the two organizations, leveraging Concorde's expertise in dental education and Heartland Dental's commitment to workforce development. With projected job growth rates of 15.8% for dental hygienists and 15.7% for dental assistants in Florida between 2023 and 2031, this initiative addresses a critical workforce need in the dental industry.

Universal Technical Institute-Bloomfield has opened enrollment for its new Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) program, with classes starting in September. This addition expands the campus's offerings, which now include HVACR, welding, automotive, and diesel education programs. The nine-month HVACR program covers essential skills such as air handling, hydronics, circuitry, ductwork, and system troubleshooting.

The launch aligns with the U.S. Bureau of Labor Statistics' projection of a 6% growth in employment for HVACR mechanics and installers from 2022 to 2032, faster than the average for all occupations. This expansion aims to meet the increasing demand for skilled technicians in temperature control systems across residential, commercial, and industrial settings in the northeast and nationwide.

Universal Technical Institute (NYSE: UTI), a leading workforce solutions education provider, has announced its fiscal third quarter 2024 conference call scheduled for Tuesday, August 6, 2024, at 4:30 p.m. ET. CEO Jerome Grant and CFO Troy Anderson will host the call to discuss the company's financial and operational results for the quarter ended June 30, 2024. Investors can join via toll-free dial-in at 1-844-881-0138 or international dial-in at 1-412-317-6790. The call will be broadcast live and available for replay, with a telephonic replay accessible until August 20, 2024. This event provides an opportunity for stakeholders to gain insights into UTI's performance and future outlook.

Universal Technical Institute (UTI) has announced a partnership with Crown Equipment for its Early Employment Program. Automotive and diesel technology students at 11 UTI campuses can now apply for paid work experience opportunities with Crown, working 20-30 hours weekly while completing their studies. Graduates offered full-time employment by Crown may qualify for tuition reimbursement up to $20,000.

The program is available at UTI campuses in California, Florida, Illinois, New Jersey, North Carolina, and Texas. This collaboration aims to bridge the gap between skilled trade education and industry workforce needs, providing students with valuable hands-on experience and a potential career path with Crown, a global leader in material handling equipment.

Concorde Career College-Portland's respiratory therapy program has been honored with the 'Distinguished Registered Respiratory Therapist (RRT) Credentialing Success' award by the Commission on Accreditation for Respiratory Care (CoARC) for the third consecutive year. This recognition highlights the program's outstanding student outcomes and commitment to excellence.

The award is based on objective criteria including RRT credentialing success of 90% or above, accreditation without progress reports, and meeting high standards for TMC exam scores and student retention. Nationwide, respiratory therapist employment is projected to grow 13% from 2022 to 2032, with the Portland Tri-County region expecting even higher growth at 23%.

Universal Technical Institute (UTI) has announced plans to consolidate the branding of its MIAT-Canton, Motorcycle Mechanics Institute, Marine Mechanics Institute, and NASCAR Technical Institute campuses under the Universal Technical Institute name.

The rebranded campuses will be known as UTI-Canton, UTI-Phoenix, and UTI-Mooresville. This move follows a similar rebranding of MIAT-Houston and UTI-Houston to UTI-Houston, which was positively received.

UTI currently serves 15,000 students across 16 campuses nationwide. The rebranding aims to leverage UTI's greater brand awareness, with the implementation starting in October and continuing through mid-2025.