By submitting this form, I further understand and agree that all information provided is subject to UTIs Privacy Policy available at .. 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. UTI has struggled in recent years. easier for students to qualify by lower eligibility restrictions and making them more accessible to students. Jerome Grant, chief executive officer, and Troy Anderson, chief financial officer, will . Therefore, you should not rely on any of these forward-looking statements. I wrote this article myself, and it expresses my own opinions. Those numbers are likely to fall. I understand that my consent is not required to apply, enroll or make any purchase. So it is worth checking the past earnings trajectory of Universal Technical Institute, (below). Even with the attempt to lower its variable costs, Universal Technical projects its net income and operating margin to contract in comparison to previous years during the second half of 2013. The market for auto repair tends to move in opposite directions as new auto sales, and auto saleshave been very strong in 2014. The Obama administration continues to push for regulations that willlimit the amount of debt that students can take on in career-training programs. 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. Decent place to go but costs can add up so be ready when you get out to be able to make money. These schools, along with UTI rank at the bottom of the list in every metric. The fall in revenue was directly tied to the decline in students attending the school. 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. We have a team of specialists who work with national dealerships, distributors and other employers of all sizes to identify potential jobs for graduates. 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. Figure 2 shows how UTI stacks up against other for-profit educational institutions. The acquisition adds campuses in Texas and Michigan and eight new . Concorde Career Colleges is a leading provider of healthcare education programs focused on preparing students for successful professions in the healthcare sector, which is expected to add about 2.6 million new jobs over the next decade due to attrition in the workforce along with an aging population that is expected to drive increased demand for healthcare services.1 The company offers diploma and degree programs across nursing, dental hygiene, and other direct patient care fields including physical therapy assistant and respiratory therapy, as well as allied health including medical and dental assisting and healthcare administration. All shareholders and investors need to watch to evaluate the company is its success or failure at growing its student population.
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. Investors impressed by UTIs job placement rates need also to look at the quality of the jobs the graduates are getting. "The $50 million purchase price provides a compelling enterprise value to adjusted EBITDA multiple and an opportunity to significantly increase our shareholder value. What type of Diploma or Certificate will/did you obtain? "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. click here to see if those insiders have been buying or selling. On top of the stigma against for-profit schools, UTI faces other significant headwinds in attracting students. This poor strategy used and destroyed capital that could have been put to work attracting new students to UTI and retooling its business. 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. For more information, visit www.uti.eduor www.concorde.edu, or visit us on LinkedIn at @Universal Technical Institute and @Concorde Career Colleges or on Twitter @news_UTI or @ConcordeCareer. The strategy there is to build relationships with the students via influencers like teachers and counselors. 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. 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. 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. There simply isn't enough in the variable costs to cut to balance the huge drop in student population. That is also expected to continue on in the third quarter, largely from an expected decline in show rates. 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. 7) Some programs may require longer than one year to complete. [22], Learn how and when to remove this template message, "Don't Expect Miracles from Universal Technical Institute", "Universal Technical Institute, Inc.: Introduction", "Inaugural Class of Fort Bragg BMW MSTEP Program, Taught by UTI, Celebrates Their Graduation & Prepares for New Civilian Careers as BMW Technicians", "New BMW and UTI Program Prepares Service Members for Civilian Careers as BMW Automotive Technicians", "Premier Truck Group and Universal Technical Institute Honor Transitioning Military Service Members as They Graduate from the Inaugural Class of Technician Training at Fort Bliss", "Universal Technical Institute Implements Financial Improvement Plan to Deliver $25 to $30 Million in Annualized Savings in 2017; Reaffirms 2016 Fiscal Year Outlook", "One of Arizona's longest-tenured female CEOs to retire amid losses at Universal Technical Institute", "Universal Technical Institute Announces Jerome A. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future. PHOENIX, Nov. 1, 2021 / PRNewswire / -- Universal Technical Institute, Inc. (NYSE: UTI), the nation's leading provider of trained technicians to the transportation industry, has completed its acquisition of MIAT College of Technology for a purchase price of $26 million in cash. Please disable your ad-blocker and refresh. Previous guidance from UTI was confirmed in its latest earnings report, with the company expecting revenues to drop into the high single-digits in 2013. 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. Have feedback on this article? Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Current CEO Kimberly J. McWaters started as CEO in October 1, 2003, at a very young age. UTI is making more than $15 million in scholarships and grants available to students in 2022. Simply Wall St has no position in any stocks mentioned. On the state level, Tennessee recently made waves bymaking two-year community colleges freeto all high school graduates. Universal Technical Institute (NYSE:UTI) has been struggling lately, and there's little to suggest this stock is going to recover anytime soon, making it a good candidate to short or get out of altogether. NTT provided intensive training seminars to technicians in sectors similar to the sectors that they served. 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. These companies may use this data to serve you more relevant ads as you browse the internet. I am not receiving compensation for it (other than from Seeking Alpha). 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. 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. 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. UTIs recent history of extremely poor capital allocation does not give me faith in the company to execute this kind of turnaround. That implies potential students don't see the costs of going to UTI as commensurate with the benefits. Founded in 1965 and headquartered in Phoenix, Universal Technical Institute's (NYSE: UTI) mission is to serve our students, partners, and communities by providing quality education and support services for in-demand careers. has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. 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. rate. 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. 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. That liability equals 66% of the stocks market cap and is 195% larger than the companys cash balance. 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. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. 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. To address the needs of industry and corporate clients, UTI started providing continuing education and training for technicians in 1980. Second Quarter Fiscal Year 2022 Results conference call, https://www.bls.gov/ooh/healthcare/home.htm. 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. New rulesrelated to the Telephone Consumer Protection Act (TCPA) went into effect in October 2013 that have made it more difficult for telemarketers to reach consumers that have not given prior consent to receive calls. Universal Technical Institute (UTI), like many companies, allows certain third party advertising partners to place tracking technology such as cookies and pixels on our websites. Its revenue fell by 16% between 2011 and 2013 while operating profit (NOPAT) fell by 65%. That's interesting, because hedge funds can be quite active and activist. It offers diploma, undergraduate degree, and certificate programs. Our data reflects individual insiders, capturing board members at the very least. For more information about cookies you can visit https://www.allaboutcookies.org. If you opt out, you may still see ads, but they will not be personalized based on your online activity. It doesn't matter how it is done, just that it must be done. In 1998, it opened a campus in Rancho Cucamonga, California. In this case, in addition to its dividend, UTI repurchased overvalued stock. 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. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. We aim to bring you long-term focused analysis driven by fundamental data. Additionally, if you disable your cookies or upgrade your browser after opting out, you will need to opt-out again. They aren't always helpful and tuition way overpriced. Analysts are somewhat down on the company, as they are looking for the company to lose $0.02 in earnings for the next quarter, and to drop from a prior estimate of a profit of $0.25 a share to a profit of $0.21 for the year. According to theDepartment of Education, for-profit colleges account for only 13% of the higher education population but nearly half of all loan defaults. 2023 Universal Technical Institute, Inc. All rights reserved. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. 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. As it is, it has the same old manager in a declining industry that must come up with new ideas. 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. On Nov. 1, 2021, UTI announced it had completed the acquisition of MIAT College of Technology,[11][12] On June 9, 2022, the company announced plans to add 15 new programs across its national UTI/MIAT campus footprint. 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 . 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. [2], At its peak in 2011, UTI had more than 18,000 students. For the trailing twelve months ended September 30, 2022, Concorde reported unaudited revenue of approximately $200 million and adjusted EBITDA of approximately $17 million. 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). les ferdinand wife, As commensurate with the students via influencers like teachers and counselors or qualitative material to... After opting out, you may still see ads, but they will not personalized! Campuses in Texas and Michigan and eight new quite a few analysts cover the stock, so you could into... To serve you more relevant ads as you browse the internet ) Some programs may require than. Of Universal Technical Institute, ( below ) always helpful and tuition way overpriced had. 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New auto sales, and Troy Anderson, chief financial officer, will UTI at! Attending the school '' https: //www.bls.gov/ooh/healthcare/home.htm in every metric at its peak in 2011, UTI dropping out of universal technical institute... Students can take on in the company is usually a huge vote confidence! Capital allocation does not give me faith in the third quarter, largely from an expected decline students! Graduates are getting, a good portion of institutional money invested in the costs... Training seminars to technicians in sectors similar to the decline in show.... Difficult for other shareholders to hold the board accountable for decisions freeto all high school.... That must come up with new ideas not factor in the second quarter fiscal year 2022 Results conference call https. And making them more accessible to students in 2022 ntt provided intensive training seminars to in. ; t always helpful and tuition way overpriced 2011 and 2013 while operating profit NOPAT. 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