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rate. It's always worth thinking about the different groups who own shares in a company. That means it had a cash runway of about 2.2 years as of March 2021 . 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. UTI cannot guarantee employment or salary. Figure 2 shows how UTI stacks up against other for-profit educational institutions. So it is worth checking the past earnings trajectory of Universal Technical Institute, (below). This technology allows these advertising partners to receive Simply Wall St has no position in any stocks mentioned. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. In this case, in addition to its dividend, UTI repurchased overvalued stock. 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. Other than cutting variable costs, the other major thing UTI must do is build back its student population. But to understand Universal Technical Institute better, we need to consider many other factors. 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. 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. These companies may use this data to serve you more relevant ads as you browse the internet. Also provided by the company are customized training programs specific to manufacturer or dealer requests. For more information, visit www.uti.edu, or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI. Combined it resulted in the operating loss of $1.9 million in the second quarter. Between 2009 and 2011, revenue grew by 23% and NOPAT increased by 80%. 8-2 Project Three Systems Thinking. This demographic is resistant to high costs and debt. UTIs recent history of extremely poor capital allocation does not give me faith in the company to execute this kind of turnaround. The acquisition adds campuses in Texas and Michigan and eight new . UTI settled out of court with the employee. UTI is making more than $15 million in scholarships and grants available to students in 2022. 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. Of course, keep in mind that there are other factors to consider, too. Concorde offers over 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnostic fields. 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. Examples of forward-looking statements include, among others, statements regarding (1) UTI's belief that the acquisition will serve as a cornerstone for its key future growth and diversification efforts; (2) UTI's ability to integrate Concorde's healthcare programs into its portfolio of educational offerings; (3) UTI's anticipated expansion efforts; (4) UTI's expectation of increasing shareholder value; and (5) UTI's expectation of accelerating its revenue, profitability and cash flow over the next several years. The company will provide further commentary on the Concorde acquisition during the Second Quarter Fiscal Year 2022 Results conference call it will be hosting tomorrow at 4:30 pm Eastern Daylight Time. The ongoing high fixed costs, which can't be managed, is what makes UTI such a risk to own if investors want any type of growth. Awards vary due to specific conditions, criteria and state. This suggests some credibility amongst professional investors. A drop to the mid-to-high single digits for new student starts is the reasoning there. 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. Let's delve deeper into each type of owner of Universal Technical Institute, beginning with the chart below. Adjusted earnings produced a loss of 4 cents per share, down from the 8 cents in earnings from the same quarter last year. Examples of forward-looking statements include, among others, statements regarding (1) UTI's belief that the acquisition will serve as a cornerstone for its key future growth and diversification efforts; (2) UTI's ability to integrate Concorde's healthcare programs into its portfolio of educational offerings; (3) UTI's anticipated expansion efforts; (4) UTI's expectation of increasing shareholder value; and (5) UTI's expectation of accelerating its revenue, profitability and cash flow over the next several years. The company will provide further commentary on the Concorde acquisition during the Second Quarter Fiscal Year 2022 Results conference call it will be hosting tomorrow at 4:30 pm Eastern Daylight Time . As at March 2021, Universal Technical Institute had cash of US$78m and no debt. If you opt out, you may still see ads, but they will not be personalized based on your online activity. Universal Technical Institute welcomes General Education Diploma students. In fiscal 2022, Universal Technical Institute completed the acquisition of MIAT College of Technology, which brought 2 campuses and 8 unique programs. Cutting back on variable expenses is important, but much less of an impact on the bottom line of the company. Figure 2: Overvalued and Underperforming in a Struggling Industry, Competition from Free Alternatives Is A Killer. That is also expected to continue on in the third quarter, largely from an expected decline in show rates. Since that time UTI has purchased $8.8 million in shares under the program at an average price of $11-$12 per share, which gives a buyback yield of 3.8%. I understand that my consent is not required to apply, enroll or make any purchase. [9] Jerome Grant was named CEO in 2019.[10]. 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. Universal Technical Institute will post an updated presentation regarding its growth and diversification strategy on its investor relations website. 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. On the state level, Tennessee recently made waves bymaking two-year community colleges freeto all high school graduates. With 70% stake, institutions possess the maximum shares in the company. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. [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. Adjusted EBITDA is a non-GAAP financial measure which is provided to supplement, but not substitute for, the most directly comparable GAAP measure. 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. The Concorde Career Colleges blended education model combines online coursework with in-person lab classes and clinical experiences. 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. UTI is an educational The usual mantra that it'll take time to implement the measures to combat the changing market conditions isn't believable with McWaters, who has seen the share price and value of the company erode exponentially under her 10-year watch. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. In the second quarter fiscal 2013, Universal Technical Institute generated net revenues of $95.1 million, plunging by 10.5 percent year-over-year. 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. UTI's default rate, however, was relatively low for a for-profit college, fluctuating from 12% to 16%. The Obama administration continues to push for regulations that willlimit the amount of debt that students can take on in career-training programs. 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. One of the major problems UTI has faced for some time has been the conversion of inquiries into applications. 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. 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. Click the button and tell us what program you're interested in! There simply isn't enough in the variable costs to cut to balance the huge drop in student population. "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. As long as the company is focused on that, the details aren't that important. UTI welcomes General Education Diploma students. In other words, UTI is making money while its graduates are, too often, unable to pay for the inadequate education they received. 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. Talk to potential employers to learn more about the programs available in your area. In 1988 UTI opened their Lisle, Illinois, campus. 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. EBITDA stood at $4.2 million in comparison to $89.5 million in 2012 in the second quarter. It may take several years before the current efforts bear fruit, if they do at all. 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. Jami Frazier will serve as the Divisional President, reporting to CEO Jerome Grant. It looks like hedge funds own 14% of Universal Technical Institute shares. 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. Contact an Admissions Representative to begin the enrollment process. Luckily, you can check this free report showing analyst forecasts for its future. 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.

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. This should lead to better outcomes for students, which will increase the value of the courses offered and decrease price and debt resistance. Perhaps investors are overlooking the fundamental problems in the business due to the steady cash payments from the company. Finally concerning the strategy of the company is an adjustment in its fee structure and a boost in scholarships. out by completing and submitting the form below. UTI pays out nearly $10 million a year in dividends and has over $70 million inexcess cash. UTI thrived in the first couple years of the recession. The bull case for UTI rests on both the market for auto repair growing and the resulting new jobs being won by UTI graduates. With the acquisition of Concorde complete, the Company will operate and report as two divisions. Jerome Grant will continue to directly lead this division until a Divisional President is named. See some of the exciting things our graduates are doing today. That has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. 2018 Universal Technical Institute, Inc. All rights reserved. The fall in revenue was directly tied to the decline in students attending the school. I have no business relationship with any company whose stock is mentioned in this article. So while increasing inquiries is a good strategy, it's unclear and very uncertain with the current headwinds whether or not that can be improved in any way. 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. 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 .

. 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. 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). [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. These days I invest only for myself while continuing to write on a variety of financial and economic topics. We have 9 programs at 13 locations. 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, Analysis-Small and medium companies to boost business travel rebound in 2023. UTI has not entirely avoided allegations of wrongdoing either. The NTT business was discontinued at a loss of $42.9 million. has resulted in lower new student starts, fewer retention rates, and an ongoing plunge in average student population, which has fallen for years. 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. 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