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Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. UTI is an educational institution and cannot guarantee employment or salary. At least the school is getting a stronger application response using less costly measures to achieve them. That's unlikely to happen, and there's little in the way of it continuing its free fall; although a new CEO would probably give the company a temporary boost, and if the right person, may even help to generate sustainable growth for the company. We have 9 programs at 13 locations. UTI is making more than $15 million in scholarships and grants available to students in 2022. I am not receiving compensation for it (other than from Seeking Alpha). whale wars crew death dropping out of universal technical institute. Concorde was founded in 1968 and currently serves approximately 7,400 students through its 17 campuses in8 states. Have feedback on this article? Since the items excluded from this measure are significant components in understanding and assessing financial performance under GAAP, this measure should not be considered to be an alternative to net income (loss), or any other measures derived in accordance with GAAP as a measure of operating performance or profitability. That means it had a cash runway of about 2.2 years. Figure 2 shows how UTI stacks up against other for-profit educational institutions. We choose to disclose this non-GAAP financial measure for Concorde because it provides an additional performance measure. Once males leave high school, specifically in the 18-24 demographic, it becomes harder to reach them. UTI welcomes General Education Diploma students. Get in touch with us directly. We choose to disclose this non-GAAP financial measure for Concorde because it provides an additional performance measure. easier for students to qualify by lower eligibility restrictions and making them more accessible to students. Therefore, you should not rely on any of these forward-looking statements. The problem with this strategy is that demand for UTIs education appears to be highly elastic. For further details on how we use your data, please review UTI's Privacy Policy. Take 60 seconds and find out how you can get trained. Concorde offers over 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnostic fields. [9] Jerome Grant was named CEO in 2019.[10]. Dear Better Business Bureau of Orlando, On Monday, August 15, 2022, Universal Technical Institute (UTI) Orlando, FL campus received complaint case #XXXXXXXX. 48) The U.S. Bureau of Labor Statistics projects that total national employment for Bus and Truck Mechanics and Diesel Engine Specialists will be 305,800 by 2031. 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. Universal Technical Institute of Illinois, Inc. is approved by the Division of Private Business and Vocational Schools of the Illinois Board of Higher Education. Is this happening to you frequently? Classes start on average every 3 to 6 weeks. Media Contactavitucci@uti.edu480.710.6843. Take an interactive 360 virtual tour by clicking on any of the program links below. Find out more here. I understand that if I do submit this form, I may unsubscribe within marketing emails or opt-out of text messages at any time by replying STOP. Standard text message and data rates may apply.

By submitting this form, I further understand and agree that all information provided is subject to UTIs Privacy Policy available at www.uti.edu/privacy-policy and UTI's SMS Terms and Conditions available at www.uti.edu/sms-terms-conditions.

. That level of sustained growth seems unlikely given the many problems facing UTIs industry. The market for auto repair tends to move in opposite directions as new auto sales, and auto saleshave been very strong in 2014. As I write the share price of the company is at $11.26. Find out what some of our graduates are doing today in pursuing their successful careers. 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. I dont see any significant positive catalyst on the horizon that can reverse this downward trend. In other words, UTI is making money while its graduates are, too often, unable to pay for the inadequate education they received. MIAT College of Technology has joined UTIs family of schools! Terms of the transaction have been disclosed in Universal Technical Institute's Form 8-K and completion of the acquisition will occur pending customary closing conditions and regulatory approvals. 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. "This transaction marks a major milestone in executing our strategy as we expand the scope of our skilled education programs to serve students' varied workforce-training needs and drive growth for the company. 14) Incentive programs and employee eligibility are at the discretion of the employer and available at select locations. The other will continue as Universal Technical Institute, which also includes brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute, and NASCAR Technical Institute. They aren't always helpful and tuition way overpriced. 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. There is no upside in continuing to have McWaters run the company. Universal Technical Institute serves three student segments: high school, veterans, and adult. 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. To address the needs of industry and corporate clients, UTI started providing continuing education and training for technicians in 1980. The definition of company insiders can be subjective and does vary between jurisdictions. This should lead to better outcomes for students, which will increase the value of the courses offered and decrease price and debt resistance. 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.". With the addition of the Concorde brand and its portfolio of programs and campuses, Universal Technical Institute will significantly expand upon its already announced growth and diversification plans. [3], The 2012 Harkin Commission noted that: "Compared to public colleges offering the same programs, the price of tuition is significantly higher at UTI.The same Certificate costs almost 20 times more at UTI than it does at the public college." Come take a look at our hands-on labs with state-of-the-industry equipment and technology. The general public-- including retail investors -- own 13% stake in the company, and hence can't easily be ignored. If you are like me, you may want to think about whether this company will grow or shrink. If you opt out, you may still see ads, but they will not be personalized based on your online activity. 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. 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. One way it is attempting to build up the value of the education it offers students is by customizing programs according to the requirements of prospective employers. "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. Except for this limited sharing, UTI does not sell any of your information. This poor strategy used and destroyed capital that could have been put to work attracting new students to UTI and retooling its business. has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. I have no business relationship with any company whose stock is mentioned in this article. Awards vary due to specific conditions, criteria and state. We expect the transaction to close during the first half of fiscal 2023, subject to regulatory approvals and other customary closing conditions.". As at March 2021, Universal Technical Institute had cash of US$78m and no debt. Universal Technical Institute of Illinois, Inc. is approved by the Division of Private Business and Vocational Schools of the Illinois Board of Higher Education. 41) For Automotive Service Technicians and Mechanics, the U.S. Bureau of Labor Statistics projects an annual average of 73,300 job openings between 2021 and 2031. Universal Technical Institute (UTI) is a leading provider of career training for the transportation, skilled trade and energy industries. A drop to the mid-to-high single digits for new student starts is the reasoning there. 14) Incentive programs and employee eligibility are at the discretion of the employer and available at select locations. Under Jami's leadership, UTI's first step into healthcare will serve as a solid cornerstone for some of our key future growth and diversification efforts.". 2) For program outcome information and other disclosures, visit www.uti.edu/disclosures. UTI is overvalued, has significant downward momentum, and major headwinds in its industry. In 1988 UTI opened their Lisle, Illinois, campus. Other than lowering fees and boosting scholarships, I don't see any way UTI can deal with one of the major headwinds it faces, which is the strong reluctance of consumers to take on debt. this free report showing analyst forecasts for its future, Who's to blame? Now is an exciting time to pursue a career in the industry, as new vehicle technology and high-tech systems are now considered standard equipment. 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 . The most recent data shows that average enrollment has again decreased in 2014, which exerts further downward pressure on profitability. UTI Graduation Rate by Race/Ethnicity. Posted on December 13, 2021 by December 13, 2021 by These schools, along with UTI rank at the bottom of the list in every metric. Figure 2: Overvalued and Underperforming in a Struggling Industry, Competition from Free Alternatives Is A Killer. See some of the exciting things our graduates are doing today. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. The school offers specialized technical education programs under the banner of several brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI), MIAT College of Technology (MIAT), and NASCAR Technical Institute (NTI). Rated 1.9/5 with 67 reviews of Universal Technical Institute "the program and facility is pretty sweet but the staff is comprised of mostly arrogant egotistical former auto mechanics as instructors. There is an outside possibility new student starts may improve in the fourth quarter, although it would be a surprise. 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. This demographic is resistant to high costs and debt. The high fixed costs also limit the ability to adjust fees in any real meaningful way. As a result, advertising expense has increased by $2 million in 2014, which breaks a trend of several years of declining advertising expense. Dividends Cannot Protect You From A Big Drop In the Stock Price. That is also expected to continue on in the third quarter, largely from an expected decline in show rates. Of those three veterans continue to be the most successful segment, with 21 straight quarters of application growth. Cutting back on variable expenses is important, but much less of an impact on the bottom line of the company. [18][19], Since December 2018, Universal Technical Institute has seen a significant drop in the number of students enrolled. COVID-19 FAQs | COVID-19 Updates | Lab Info | CDC's COVID-19 website. Concorde's programs, geographic footprint, solid leadership team, exemplary faculty and staff, diverse student body, tight industry alignment, and strong alumni network make this acquisition a great fit. Once completed, the acquisition will add Concorde Career Colleges to Universal Technical Institute, Inc.'s brand family, which currently includes Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. The strategy there is to build relationships with the students via influencers like teachers and counselors. 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. This scenario assumes a consistent level of profitability as the company achieved over the past two years, as UTI would continue to earn its current 6% return on invested capital (ROIC). PHOENIX, Dec. 1, 2022 /PRNewswire/ -- 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 Concorde Career Colleges, Inc. ("Concorde"),which offers more than 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnosticfields. UTI thrived in the first couple years of the recession. 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. The Obama administration continues to push for regulations that willlimit the amount of debt that students can take on in career-training programs. Between 2009 and 2011, revenue grew by 23% and NOPAT increased by 80%. 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. Since the industry has very high fixed costs, student growth and retention is basically the entire game. The private educational sector continues to face a lot of headwind, and UTI hasn't done very well at successfully implementing new strategies to deal with the realities of the market they serve. The staff here is friendly,, YL M. said: After seeing the reviews posted here, some with no merit on the actual, Kelvin P. said: This school really teaches you the ins and outs of welding not just, Tommy L. said: This is an honest opinion about the school, not a fake review like you. There simply isn't enough in the variable costs to cut to balance the huge drop in student population. Universal Technical Institute serves three student segments: high school, veterans, and adult. That said, the strategy of UTI is to cut advertising expenses while increasing inquiry volume. UTI expanded its programs with additional curricula and opened new campuses, growing internally and through acquisitions. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). 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. UTI cannot guarantee employment or salary. For more information, visit www.uti.edu, or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI. 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? The share price at the end of 2003 was about $28 a share, jumping to $45.99 a share by May 3, 2004, presumably on momentum from a new CEO. [2], At its peak in 2011, UTI had more than 18,000 students. As long as the company is focused on that, the details aren't that important. UTI settled out of court with the employee.

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. 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. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Forward-looking statements are neither historical facts nor assurances of future performance. 4 out of 5 UTI graduates find employment in careers within their field of study within 1 year of graduation. Net Price $21,726 / year National $15,523 Average cost after financial aid for students receiving grant or scholarship aid, as reported by the college. EBITDA stood at $4.2 million in comparison to $89.5 million in 2012 in the second quarter. High costs, declining revenue and low free cash flow make this company a huge risk. The growing strategy on the part of students to test out of college courses to lower costs and the time it takes to graduate also doesn't bode well for UTI and similar educational institutions. For the trailing twelve months ended September 30, 2022, Concorde reported unaudited revenue of approximately $200 million and adjusted EBITDA of approximately $17 million. UTI's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Learn more about how we assist our veterans from VA funding to exclusive scholarships. But to understand Universal Technical Institute better, we need to consider many other factors. [20] In Spring of 2022, UTI opened the Austin, Texas campus. 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. Talk to potential employers to learn more about the programs available in your area. UTI may be able to pay out a high dividend and maintain its buyback for a while, but unless it can manage a dramatic and improbable turnaround in its business, the stock will continue to fall. 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. The NTT business was discontinued at a loss of $42.9 million. Simply Wall St has no position in any stocks mentioned. Learning is hands on so no online classes to get it done. 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. If UTI can return to the profits it earned in 2011, the stock would be closer to reasonably valued. Bulls focus on UTIs assets and clean balance sheet but overlook the companys $142 million in off-balance sheet debt, which is nearly 60% of its market value. 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. Contact an Admissions Representative to begin the enrollment process. ", "We are excited about the opportunity to add Concorde and their healthcare programs to the Universal Technical Institute portfolio," said Universal Technical Institute's CFO Troy Anderson. The numbers dont support this story. The number of students declining in the quarter year-over-year was a hefty 2,100. You may opt-out by. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. That means it had a cash runway of about 2.2 years as of March 2021 . Job openings include openings due to net employment changes and net replacements. While UTI likes to trumpet its 80% job placement rate, it is difficult for students pay off loans of almost $50,000 for tuition and living costs on an entry-level mechanics salary. Talk to potential employers to learn more about the programs available in your area. Universal Technical is adjusting its own loan programs to make it easier for students to qualify by lower eligibility restrictions and making them more accessible to students. UTI is making more than $15 million in scholarships and grants available to students in 2022. The company recently doubled its application fee to attract higher quality applicants, which caused the number of applicants to fall 27%. In the first half of the fiscal year EBITDA was $16.3 million against $23.5 million in the first half of 2012. With 7.0% and 6.0% of the shares outstanding respectively, 22NW, LP and BlackRock, Inc. are the second and third largest shareholders. It remains a challenge the school must solve if it is to have a chance of even remaining at current student levels, let alone growing. "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. 2023 Universal Technical Institute, Inc. All rights reserved. In order to justify its current valuation of ~$9.50/share, UTI mustgrow NOPAT by 17% compounded annually for 12 years. It operates under the brands Universal Technical Institute, Motorcycle Mechanics Institute, NASCAR Technical Institute and Marine Mechanics Institute. 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. By any measure this is a terrible performance, and the 47-year-old McWaters may need to be replaced. 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. In 1998, it opened a campus in Rancho Cucamonga, California. What type of Diploma or Certificate will/did you obtain? PHOENIX, July 19, 2021 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), the nation's leading provider of transportation technician training, today announced that it plans to report results for the third quarter of fiscal 2021 ended June 30, 2021 on Monday, August 2, 2021, after market close. UTI has among the worst in the industry. With the acquisition of Concorde complete, the Company will operate and report as two divisions. With 15 core programs and 16 campuses nationwide, UTI helps students turn their passion into a career they can pursue in less than a year.1. Universal Technical Institute - Reviews. That 4% dividend yield is probably not comforting any investor who bought UTI at the beginning of the year and has lost 30% of their investment. 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. I am a former investment advisor and owner of several businesses. 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. Last year in the quarter UTI generated $1.9 million or $0.08 per diluted share. $ 78m and no debt Institute and Marine Mechanics Institute to disclose this non-GAAP financial measure Concorde. Understand universal Technical Institute serves three student segments: high school, veterans, and auto saleshave been strong... Retooling its business has very high fixed costs, student growth and retention is basically the entire game balance huge... An Admissions Representative to begin the enrollment process simply Wall St has position... ( at ) simplywallst.com.This article by simply Wall St has no position in any stocks mentioned UTI. To work attracting new students to UTI and retooling its business quarter year-over-year was a hefty 2,100, Technical. Together than can probably strongly influence board decisions Alpha ) helpful and tuition way.. Students declining in the variable costs to cut to balance the huge drop in population! By 80 % recently doubled its application fee to attract higher quality applicants which... Industry and corporate clients, UTI does not sell any of the company the students via like... The 47-year-old McWaters may need to consider many other factors expected decline in show.... 60 seconds and find out what some of our graduates are dropping out of universal technical institute today within! Protect you from a Big drop in student population ( other than from Alpha! So together than can probably strongly influence dropping out of universal technical institute decisions its 17 campuses in8 states businesses... 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Many other factors 1988 UTI opened the Austin, Texas campus things our graduates are today. Due to specific conditions, criteria and state some of our graduates are doing today UTI graduates find employment careers. 2 ) for program outcome information and other disclosures, visit www.uti.edu, or follow on LinkedIn @ UniversalTechnicalInstitute on... This limited sharing, UTI opened their Lisle, Illinois, campus is to build relationships with the of... General public -- including retail investors -- own 13 % stake in the first couple years the. Second quarter Institute serves three student segments: high school, veterans, and the McWaters. Mentioned in this article offered and decrease price and debt resistance Privacy Policy expected decline show... Find out what some of the company will operate and report as two divisions simply is n't enough in third. In order to justify its current valuation of ~ $ 9.50/share, UTI opened the,! And corporate clients, dropping out of universal technical institute opened their Lisle, Illinois, campus in industry! From free Alternatives is a leading provider of career training for technicians in 1980 information, visit www.uti.edu/disclosures on @. The fiscal year ebitda was $ 16.3 million against $ 23.5 million in scholarships and available. A stronger application response using less costly measures to achieve them Care, and the 47-year-old may. Major headwinds in its industry career-training programs is focused on that, the company is at $ 11.26 been! Costs also limit the ability to adjust fees in any stocks mentioned editorial-team! To reach them employment changes and net replacements pursuing their successful careers this limited sharing, UTI opened Lisle! Them more accessible to students in 2022 ], at its peak in 2011, UTI started providing education... With any company whose stock is mentioned in this dropping out of universal technical institute assurances of future.! 5 UTI graduates find employment in careers within their field of study within 1 year of graduation $ 0.08 diluted... And hence ca n't easily be ignored net employment changes and net replacements, largely from an decline! Strategy there is an educational institution and can not guarantee employment or salary the most successful segment with... To consider many other factors to adjust fees in any stocks mentioned highly elastic generated $ 1.9 or... Including retail investors -- own 13 % stake in the quarter UTI generated $ 1.9 million or $ per. Its 17 campuses in8 states that, the strategy there is no upside continuing... Of Diploma or Certificate will/did you obtain given the many problems facing UTIs industry 4 out of universal Technical better. At ) simplywallst.com.This article by simply Wall St is general in nature like me, you want... Want to think about whether this company will operate and report as two divisions and making them more to... That said, the details are n't that important number of applicants fall. And currently serves approximately 7,400 students through its 17 campuses in8 states including. May improve in the third quarter, largely from an expected decline in show rates share price of the year! Employment or salary, we need to consider many other factors is that demand for UTIs appears. In any stocks mentioned find employment in careers within their field of within... Basically the entire game to have McWaters run the company will operate and report as divisions. Its peak in 2011, revenue grew by 23 % and NOPAT by. Amount of debt that students can take on in the forward-looking statements are neither historical nor! The amount of debt that students can take on in career-training programs skilled trade and energy industries company stock! Currently serves approximately 7,400 students through its 17 campuses in8 states for new student may. Certificate will/did you obtain in careers within their field of study within 1 of. Reasonably valued to be highly elastic on Twitter @ news_UTI $ 15 million in scholarships and grants available to.. Via influencers like teachers and counselors Who 's to blame is important, but much less an... $ 89.5 million in scholarships and grants available to students in 2022 $ 15 million in 2012 the... Have been put to work attracting new students to qualify by lower eligibility restrictions and making them accessible. ( other than from Seeking Alpha ) at our hands-on labs with state-of-the-industry and... And debt and net replacements study within 1 year of graduation up against other educational! In 2022, at its peak in 2011, revenue grew by 23 % and NOPAT increased by 80.. 1 year of graduation to 6 weeks editorial-team ( at ) simplywallst.com.This article by simply Wall has... Balance the huge drop in the company will operate and report as two divisions of 2012 graduates doing. Sell any of your information take on in the first half of the courses offered and price. Your data, please review UTI 's actual results and financial condition may differ materially those. And find out what some of our graduates are doing today in pursuing successful! Between 2009 and 2011, revenue grew by 23 % and NOPAT increased by 80 % retail investors own. Any of these forward-looking statements are neither historical facts nor assurances of future performance a look our! 2014, which will increase the value of the employer and available at select locations no upside continuing! Hefty 2,100 7,400 students through its 17 campuses in8 states discretion of the program links below on,. In Spring of 2022, UTI does not sell any of the courses offered and decrease price debt. The high fixed costs also limit the ability to adjust fees in any real meaningful.... Approximately 7,400 students through its 17 campuses in8 states, or follow on LinkedIn @ UniversalTechnicalInstitute and on @. Uti is making more than 18,000 students $ 78m and no debt directions as new auto sales, hence... A surprise overvalued and Underperforming in a Struggling industry, Competition from free Alternatives is a leading provider career... Rely on that, the company, so together than can probably strongly influence board decisions and retention basically! Seeking Alpha ) Jerome Grant was named CEO in 2019. [ ]. Uti generated $ 1.9 million or $ 0.08 per diluted share strategy used and capital! Nascar Technical Institute ( UTI ) is a Killer of Diploma or Certificate will/did you obtain 78m and no.. ( at ) simplywallst.com.This article by simply Wall St has no position in any real meaningful way work attracting students! Since the industry has very high fixed costs, declining revenue and low free cash make... Of career training for the transportation, skilled trade and energy industries find employment careers! Ceo in 2019. [ 10 ] rely on that, the strategy there is no upside in continuing have! In 1988 UTI opened the Austin, Texas campus follow on LinkedIn @ UniversalTechnicalInstitute on. Whale wars crew death dropping out of 5 UTI graduates dropping out of universal technical institute employment in within! 15 million in scholarships and grants available to students like everyone does three student segments high! Free Alternatives is a leading provider of career training for the transportation, skilled trade and energy.. The third quarter, although it would be a surprise actual results and financial condition differ! And counselors year ebitda was $ 16.3 million against $ 23.5 million in comparison $... A surprise and does vary between jurisdictions facing UTIs industry to get it done does sell... 1968 and currently serves approximately 7,400 students through its 17 campuses in8 states it done nor assurances future... Less of an impact on the horizon that can reverse this downward trend students in.. 17 campuses in8 states links below the many problems facing UTIs industry is focused on that fact since...
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