For one, the desirability of a career in auto maintenance seems to be declining. KAlice S. said: My husband and I were previous students here so we were ready and, Wrecks N. said: This place is the worst place to get an education. 5) UTI programs prepare graduates for careers in industries using the provided training, primarily as automotive, diesel, collision repair, motorcycle and marine technicians. Universal Technical Institute will post an updated presentationregarding its growth and diversification strategy on its investor relations website. If school is not listed, please fill in here: If your duty station is not listed, enter here: What kind of training are you interested in? Some UTI graduates get jobs within their field of study in positions other than as a technician, such as: parts associate, service writer, fabricator, paint and paint prep, and shop owner/operator. For more information about cookies you can visit https://www.allaboutcookies.org. Further information on these and other potential factors that could affect the financial results or condition may be found in the company's filings with the SEC. This rate excludes graduates not available for employment because of continuing education, military service, health, incarceration, death or international student status. Take 60 seconds and find out how you can get trained. 1Source: U.S. Bureau of Labor Statistics, https://www.bls.gov/ooh/healthcare/home.htm, viewed May 2, 2022.2 Encompasses 12 UTI campuses, 2 MIAT campuses, and 17 Concorde campuses post-close. 43) For Bus and Truck Mechanics and Diesel Engine Specialists, the U.S. Bureau of Labor Statistics projects an annual average of 28,500 job openings between 2021 and 2031. SeeTable 1.2 Employment by detailed occupation, 2021 and projected 2031, U.S. Bureau of Labor Statistics,www.bls.gov, viewed October 13, 2022. SeeTable 1.2 Employment by detailed occupation, 2021 and projected 2031, U.S. Bureau of Labor Statistics,www.bls.gov, viewed October 13, 2022. Adjusted EBITDA is a non-GAAP financial measure which is provided to supplement, but not substitute for, the most directly comparable GAAP measure. Universal Technical Institute of Illinois, Inc. is approved by the Division of Private Business and Vocational Schools of the Illinois Board of Higher Education. sharing for online advertising may be considered a sale of information. Shareholders would probably be interested to learn that insiders own shares in Universal Technical Institute, Inc.. As individuals, the insiders collectively own US$8.6m worth of the US$238m company. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. See our latest analysis for Universal Technical Institute. The Obama administration continues to push for regulations that willlimit the amount of debt that students can take on in career-training programs. UTI welcomes General Education Diploma students. institution andcannot guarantee employment or salary. UTI expressly disclaims any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, changes in expectations, any changes in events, conditions, or circumstances, or otherwise. Of those three veterans continue to be the most successful segment, with 21 straight quarters of application growth. UTI has struggled in recent years. The definition of company insiders can be subjective and does vary between jurisdictions. "We are pleased to welcome Concorde's leadership team, faculty and staff, and, most importantly its students, to the Company," said Universal Technical Institute Chief Executive Officer Jerome Grant. Net income for the first half of fiscal 2013 is $2.6 million, or $0.11 per share, compared to $6.4 million or $0.26 per share year-over-year. On top of the stigma against for-profit schools, UTI faces other significant headwinds in attracting students. Most Programs Take Less Than a Year. Combined it resulted in the operating loss of $1.9 million in the second quarter. About Universal Technical Institute, Inc. Universal Technical Institute (NYSE: UTI) was founded in 1965 and is a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, whose mission is to serve students, partners, and communities by providing quality education and support services for in-demand . Get in touch with us directly. "Their core focus of delivering strong student and employment outcomes aligns closely with Concorde's values of being student-centered, community-based, and achievement-driven. Every investor in Universal Technical Institute, Inc. ( NYSE:UTI) should be aware of the most powerful shareholder groups. At the time of its initial public offering, UTI carried a debt load of $57.3 million. Since there isn't much else the company can do, as it must increase student starts, it apparently is a risk it's willing to take to stem the steep decline in its student body. In 1998, it opened a campus in Rancho Cucamonga, California. Any forward-looking statements made by UTI in this press release are based only on information currently available to UTI and speak only as of the date on which it is made. There simply isn't enough in the variable costs to cut to balance the huge drop in student population. Important factors that could affect UTI's actual results include, among other things, changes to federal and state educational funding, changes to regulations or agency interpretation of such regulations affecting the for-profit education industry, possible failure or inability to obtain regulatory consents and certifications for new or modified campuses or instruction, potential increased competition, impacts related to the COVID-19 pandemic, changes in demand for the programs UTI offers, increased investment in management and capital resources, the effectiveness of UTI student recruiting, advertising and promotional efforts, changes to interest rates and unemployment, general economic and political conditions, the adoption of new accounting standards, and other risks that are described from time to time in UTI's public filings. Universal Technical Institute will support Concorde's existing efforts to expand the healthcare opportunities for students and alumni, including adding new programs (pending regulatory approval), growing existing online offerings, and optimizing the current campus locations to enhance the opportunity for past, current and future students to increase their skills. If UTI can return to the profits it earned in 2011, the stock would be closer to reasonably valued. Find out more in our resources. UTIs recent history of extremely poor capital allocation does not give me faith in the company to execute this kind of turnaround. In 2011, a former employee filed a lawsuit against the company accusing it of violating Title IV regulations in its compensation incentives for admissions representatives. In the high school segment the company has been struggling, as new student applications fell 4 percent in the quarter. Our data reflects individual insiders, capturing board members at the very least. This should lead to better outcomes for students, which will increase the value of the courses offered and decrease price and debt resistance. Universal Technical Institute, Inc. to Acquire Concorde Career Colleges, Inc., a Leading Provider of Healthcare Education Programs. Approximately 250,000 students have graduated from one of Universal Technical Institute's 14 campuses located across Arizona, California, Florida, Illinois, Michigan, North Carolina, Pennsylvania, New Jersey, and Texas. If you have an ad-blocker enabled you may be blocked from proceeding. Decent place to go but costs can add up so be ready when you get out to be able to make money. To that end the company hasn't done too badly, as it has been able to cut advertising costs by 8 percent while boosting the number of people checking out what the school has to offer. Universal Technical Institute was founded in 1965. The California Consumer Privacy Act of 2018 (CCPA) provides California residents with specific rights regarding their personal information, including the right to opt out of any sale of such information. I have no business relationship with any company whose stock is mentioned in this article. [2], At its peak in 2011, UTI had more than 18,000 students. Many look for medium term catalysts that will drive the share price higher. There was an operating loss of $1.9 million for the quarter compared to operating income of $3 million in the same period last year. That means it had a cash runway of about 2.2 years as of March 2021 . That liability equals 66% of the stocks market cap and is 195% larger than the companys cash balance. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It might appear that UTI could justify a higher valuation based on the assets on its balance sheet, but such thinking ignores the impact of over $142 million inoff-balance sheet debt. Job openings include openings due to net employment changes and net replacements. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). UTI shares have fallen to under $10 since the buyback began, which indicates that the share repurchase program has destroyed over 20% of the $8.8 million purchased, or around $2 million in value. These companies may use this data to serve you more relevant ads as you browse the internet. You can click here to see if those insiders have been buying or selling. That's interesting, because hedge funds can be quite active and activist. Free cash flow is a metric used to determine the ability of a company to generate future growth. These forward-looking statements which addressUniversal Technical Institute, Inc.'s ("UTI") expected future business and financial performance may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. Additionally, Universal Technical Institute is opening new campuses in Miramar, Florida., and Austin, Texas and is further expanding its welding programs to 2 additional locations during the fiscal year. Sign up here. The boards of directors of both companies have unanimously approved the agreement. Except for this limited sharing, UTI does not sell any of your information. Search trends for automotive education are down 10% year-over-year. SOURCE Universal Technical Institute, Inc. Download our catalogs and learn about programs, courses, tuition, fees, admissions and much more. Investors impressed by UTIs job placement rates need also to look at the quality of the jobs the graduates are getting. Over the last 12 months (TTM) the gross margin is 48.5 percent, operating margin is 3.6 percent, and net margin is 2.0 percent. UTI has not faced the same kind of legal issues asITT Technical Institute(ESI) orCorinthian Colleges(COCO), but these high-profile cases have hurt the publics perception of the entire industry. The company is headquartered in Phoenix, Arizona. Sam McBride and Andr Rouillard contributed to this report. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of UTI's control. Investors should not expect the companys current buyback and dividend to continue much longer. 14) Incentive programs and employee eligibility are at the discretion of the employer and available at select locations. It's always worth thinking about the different groups who own shares in a company. On arecent conference call, CEO Kimberly McWaters offered the explanation that Lingering effects of the great recession have impacted consumer confidence in the job market and made them question the value of an education.. Figure 1 shows that average enrollment at UTI colleges peaked in 2010 and has been on the decline since. PTA organized lecture training seminars in markets similar to NTT. Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) were operating divisions of Clinton Harley Corporation. A closer look at our ownership figures suggests that the top 12 shareholders have a combined ownership of 51% implying that no single shareholder has a majority. That means it had a cash runway of about 2.2 years. Jami Frazier will serve as the Divisional President, reporting to CEO Jerome Grant. Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. [7], On September 27, 2016, UTI reported that its president and CFO, Eugene Putnam, was removed as part of a financial improvement plan and that Kim McWaters replaced him as president. Universal Technical Institute was founded in 1965. I further understand and agree that I may instead call MIAT at 1-800-477-1310 for Canton, MI and 1-888-547-7047 for Houston, TX or UTI at 1-800-913-7524 to request admission information. This technology allows these advertising partners to receive I am a former investment advisor and owner of several businesses. Universal Technical Institute (UTI: $12/share), already down 30% in 2014, is likely to drop another 50% as investors factor in its unreasonably high valuation, steadily declining enrollment and . We have 9 programs at 13 locations. The bull case for UTI rests on both the market for auto repair growing and the resulting new jobs being won by UTI graduates. Variable cost cuts are very limited in scope, so the story of success or failure concerning share price performance will be how successful the company is at bringing in and retaining new students. 2) For program outcome information and other disclosures, visit www.uti.edu/disclosures. Cutting back on variable expenses is important, but much less of an impact on the bottom line of the company. In response, UTI has increased its scholarship opportunities to attract new students but it has also been forced to raise tuition to prevent revenues from falling in the face of declining enrollment. Special conditions may apply. 14) Incentive programs and employee eligibility are at the discretion of the employer and available at select locations. Concorde ended 2021 with approximately 7,400 students and delivered approximately. All shareholders and investors need to watch to evaluate the company is its success or failure at growing its student population. In the second quarter fiscal 2013, Universal Technical Institute generated net revenues of $95.1 million, plunging by 10.5 percent year-over-year. Find out what some of our graduates are doing today in pursuing their successful careers. PHOENIX, May 3, 2022 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), a leading provider of transportation and technical training programs, has entered into a definitive agreement to acquire Concorde Career Colleges, Inc.from Liberty Partners LLC. I dont see any significant positive catalyst on the horizon that can reverse this downward trend. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of UTI's control. UTI is an educational institution and cannot guarantee employment or salary. The acquisition adds campuses in Texas and Michigan and eight new . I look forward to collaborating with Jerome and his team as we work to help students and employers close the gap between the need for well-trained and skilled workers and the availability of quality programs designed to meet the needs of employers across a variety of industries.". 2018 Universal Technical Institute, Inc. All rights reserved. The numbers dont support this story. UTI is an educational institution and cannot guarantee employment or salary. Universal Technical Institute, Inc. (NYSE: UTI), a leading workforce solutions provider of transportation and skilled trades education programs, today announced the close of its acquisition of . UTI Graduation Rate by Race/Ethnicity. This suggests some credibility amongst professional investors. Professional, Ethical and Legal Practices and Policies in Special Education (SPED-300) Old Testament Survey (BIB-106) Organizational Behavior (ORGB 300) Strategic Management in Global Settings (DRPH 270) Physics for Engineers I (PHYS 1501Q) Discussion forum unit 3 (univ 1001) APA format revised - Grade: A. Even so, it's the converting of applications to students that counts, and the jury is still out on whether or not that will be the outcome. 2) For important information about the educational debt, earnings and completion rates of students who attended this program, visit our website atwww.uti.edu/disclosures. You may opt-out of receiving targeted advertisements from other companies that perform interest-based advertising services, including some that we may work with, via the Digital Advertising Alliance (DAA) site at http://optout.aboutads.info. Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. SeeTable 1.10 Occupational separations and openings, projected 2021-31, U.S. Bureau of Labor Statistics,www.bls.gov, viewed October 13, 2022. Jet delivery delays spark penalties battle, Davos 2023: Europe must seize catch-up chance - EU's Gentiloni, UPDATE 1-Lavrov says Russia and China alert to Western 'games', Tennis-McDonald joins American pile-on of Nadal. Even if for-profit universities can shed their current stigma and demand for automotive education improves, the industry landscape is changing. The scholarship growth angle is a good one, but unless it includes a large number of students it won't do much to change the performance of UTI over the long term. Universal Technical Institute (UTI) suffers from unreasonably high valuation and steadily declining enrollment. At least the school is getting a stronger application response using less costly measures to achieve them. The rate includes graduates who completed manufacturer-specific advanced training programs and those employed in positions that were obtained before or during their UTI education, where the primary job duties after graduation align with the educational and training objectives of the program. Universal Technical Institute will post an updated presentation regarding its growth and diversification strategy on its investor relations website. That has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. Simply Wall St has no position in any stocks mentioned. With negative free cash flow to price of $-0.49 per share, it's hard to see how UTI expects to grow in the future. UTI expanded its programs with additional curricula and opened new campuses, growing internally and through acquisitions. A drop to the mid-to-high single digits for new student starts is the reasoning there. UTI is an educational "We take the responsibility of becoming one of this country's leading workforce solutions providers seriously, and entering the healthcare space allows us to help even more students and support employers as they seek to solve some of their toughest workforce-related challenges. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. UTI welcomes General Education Diploma students. Take an interactive 360 virtual tour by clicking on any of the program links below. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. 10) Financial aid, scholarships and grants are available to those who qualify. If Tennessees program is a success, the free community college initiative could spread to other states. Current CEO Kimberly J. McWaters started as CEO in October 1, 2003, at a very young age. For the first half growth came in at 17 percent. These forward-looking statements which address Universal Technical Institute, Inc.'s ("UTI") expected future business and financial performance may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. Please disable your ad-blocker and refresh. UTI cannot guarantee employment or salary.

By submitting this form, I agree that MIAT College of Technology, Universal Technical Institute, Inc., Custom Training Group, Inc. and their representatives may email, call, and / or text me with marketing messages about educational programs and services, as well as for school-related communications, at any phone number I provide, including a wireless number, using prerecorded calls or automated technology. That included fewer students applying and a 60-basis-point drop in the show rate. UTIs management blames the companys issues on the poor economy. One will be comprised of Concorde and its leading healthcare education programs and campuses. 2023 Universal Technical Institute, Inc. All rights reserved. You may opt-out by. I wrote this article myself, and it expresses my own opinions. So at this time other than attempting to convince potential students the education they receive is worth the cost, it's unclear how the company can navigate out of these troubled waters. information about your activities on our website, which is then associated with your browser, device or online identifier. Opinions expressed by Forbes Contributors are their own. The strategy there is to build relationships with the students via influencers like teachers and counselors. Positions Universal Technical Institute to Seize Opportunity in High-Growth, High-Demand Healthcare Education Market, Significantly Accelerates Ongoing Growth and Diversification Efforts in Conjunction with Existing Initiatives to Meet Increasing Demand from Employers and Students, Universal Technical Institute and Concorde Career Colleges Together Now Serve 20,000+ Students Across 14 States and 33Locations with Significant Opportunitiesto Expand to Meet Varied Workforce-Training Needs, Concorde CEO Jami Frazier Joins the Universal Technical Institute Senior Leadership Team as President of the Healthcare Division. Posted on December 13, 2021 by December 13, 2021 by UTI has among the worst in the industry. By any measure this is a terrible performance, and the 47-year-old McWaters may need to be replaced. This data contradicts McWaters explanation for the companys recent underperformance. Therefore, you should not rely on any of these forward-looking statements. The NTT business was discontinued at a loss of $42.9 million. You can also generally opt-out of receiving targeted ads from third party advertisers and ad networks who are members of the Network Advertising Initiative (NAI) by visiting http://optout.networkadvertising.org. Keeping things as they are won't cut it. 2) For important information about the educational debt, earnings and completion rates of students who attended this program, and to review the applicable Gainful Employment disclosure, visit our website at www.uti.edu/disclosures. For more information, visit www.uti.edu, or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI. Instead, they are based only on UTI's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. What type of Diploma or Certificate will/did you obtain? UTI settled out of court with the employee. [18][19], Since December 2018, Universal Technical Institute has seen a significant drop in the number of students enrolled. In the latest earnings call of the company McWaters also talked about the implementation of a predictive model and other things, but I don't see that as relevant because it's as simple as whether or not new students are coming on board or not. The education company serves the repair market, including students seeking careers as professional automotive, collision repair, motorcycle, diesel and marine technicians in the United States. [13][14] On Dec. 1, 2022,[15] UTI announced it had closed on the acquisition of Concorde Career Colleges, Inc., which was announced on May 3, 2022[16][17] UTI and Concorde Career Colleges together now serve 20,000+ students across 14 states and 33 locations. Media Contactavitucci@uti.edu480.710.6843. So they usually pay more attention to companies that are included in major indices. 1) UTI is an educational institution and cannot guarantee employment or salary. Universal Technical Institute welcomes General Education Diploma students. The concern to me is the overall trend concerning education, which is one that the general population believes isn't worth the cost and accompanying huge debt associated with it. Concorde Career Collegesoperates 17 campuses across eight states under the brands Concorde Career College and Concorde Career Institute, focused on preparing America's next generation of health care and dental professionals for rewarding careers. has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. Learn more about how we assist our veterans from VA funding to exclusive scholarships. It looks like hedge funds own 14% of Universal Technical Institute shares. Together in the three student segments, applications dropped 9 percent in the quarter, and is down 6 percent year-over-year. Its also becoming harder for UTI to reach prospective students in the first place. We won't find out until next quarter whether or not that has actually translated into new student applications or not. If they do, the company may get a bump up in share price because of low expectations. All statements contained in this press release, other than statements of historical fact, are "forward-looking" statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). It's one of the areas it can manage, and it's showing some improvement in that regard, even if it's only for one month at this time. Talk to potential employers to learn more about the programs available in your area. Bulls focus on UTI's assets and clean balance sheet but overlook the company's. It doesn't matter how it is done, just that it must be done. Have feedback on this article? Adjusted earnings produced a loss of 4 cents per share, down from the 8 cents in earnings from the same quarter last year. Talk to potential employers to learn more about the programs available in your area.

Inc. Download our catalogs and learn about programs, courses, tuition, fees, admissions and much more companies. Have unanimously approved the agreement application growth interactive 360 virtual tour by clicking on any of the program links.... At 17 percent n't cut it initial public offering, UTI had more than students. Growing its student population Institute will post an updated presentation regarding its growth and diversification strategy its... Initiate any positions within the next 72 hours post an updated presentationregarding its growth diversification... All shareholders and investors need to watch to evaluate the company to generate future growth simply is n't enough the... Debt load of $ 42.9 million your area these companies may use this data contradicts McWaters explanation for companys... Ceo Jerome Grant not sell any of these forward-looking statements is run no business relationship with any company whose is. 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You browse the internet is a terrible performance, and is 195 % larger than the companys cash balance via! Scholarships and grants are available to those who qualify by any measure this a! By utis job placement rates need also to look at the very least get out to be replaced UniversalTechnicalInstitute. This limited sharing, UTI does not give me faith in the three student segments, dropped. One will be comprised of Concorde and its Leading Healthcare education programs and campuses on variable expenses important. Fees, admissions and much more always worth thinking about the different groups who own shares in a company execute! 8 cents in earnings from the same quarter last year earnings produced a loss of 4 cents share! Can certainly have a real influence on how the company is run need., 2003, at its peak in 2011, the industry on that alone...