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. 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. whale wars crew death dropping out of universal technical institute. UTI welcomes General Education Diploma students. [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." 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. 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. Second Quarter Fiscal Year 2022 Results conference call, https://www.bls.gov/ooh/healthcare/home.htm. Combined it resulted in the operating loss of $1.9 million in the second quarter. This is a BETA experience. The company recently doubled its application fee to attract higher quality applicants, which caused the number of applicants to fall 27%. See our latest analysis for Universal Technical Institute. UTI is an educational For more information about cookies you can visit https://www.allaboutcookies.org. Further, if you use multiple browsers or devices, you will need to execute this opt-out on each browser or device. 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. 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. The Obama administration continues to push for regulations that willlimit the amount of debt that students can take on in career-training programs. UTI has not entirely avoided allegations of wrongdoing either. UTI is overvalued, has significant downward momentum, and major headwinds in its industry. All they want is, Brianna W. said: I'm currently enrolled at Platt College! Due to an increase in customer demand and shortage of skilled technicians, jobs are growing in the skilled trades. For further details on how we use your data, please review UTI's Privacy Policy. Google That liability equals 66% of the stocks market cap and is 195% larger than the companys cash balance. As long as the company is focused on that, the details aren't that important. These companies may use this data to serve you more relevant ads as you browse the internet. 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. 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 . Since the items excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures 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. SeeTable 1.2 Employment by detailed occupation, 2021 and projected 2031, U.S. Bureau of Labor Statistics,www.bls.gov, viewed October 13, 2022. 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. The numbers dont support this story. That included fewer students applying and a 60-basis-point drop in the show rate. I only included this strategy segment to show the company is taking steps in that direction, and waiting to see the enrollment numbers is all that will matter. 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. 1) UTI is an educational institution and cannot guarantee employment or salary. Want Technical Training? Dividends also generally pay out capital that could be better used to buy back stock that is undervalued. 14) Incentive programs and employee eligibility are at the discretion of the employer and available at select locations. We choose to disclose this non-GAAP financial measure for Concorde because it provides an additional performance measure. 4 out of 5 UTI graduates find employment in careers within their field of study within 1 year of graduation. Free cash flow is a metric used to determine the ability of a company to generate future growth. On top of the stigma against for-profit schools, UTI faces other significant headwinds in attracting students. As a result, advertising expense has increased by $2 million in 2014, which breaks a trend of several years of declining advertising expense. Universal Technical Institute, Inc. (UTI). For more information, visit www.uti.edu, or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI. Its also becoming harder for UTI to reach prospective students in the first place. Search trends for automotive education are down 10% year-over-year. Simply Wall St has no position in any stocks mentioned. Find out more here. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE). out by completing and submitting the form below. 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. You can exercise your right to opt 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. 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. The acquisition adds campuses in Texas and Michigan and eight new . 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. Figure 2: Overvalued and Underperforming in a Struggling Industry, Competition from Free Alternatives Is A Killer. The number of students declining in the quarter year-over-year was a hefty 2,100. This may not be consistent with full year annual report figures. At the time of its initial public offering, UTI carried a debt load of $57.3 million. As I write the share price of the company is at $11.26. We aim to bring you long-term focused analysis driven by fundamental data. 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. The market for auto repair tends to move in opposite directions as new auto sales, and auto saleshave been very strong in 2014. Universal Technical Institute (UTI) is a leading provider of career training for the transportation, skilled trade and energy industries. Forward-looking statements are neither historical facts nor assurances of future performance. 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. Choose from a range of programs you need to get the technical career you want. 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. The boards of directors of both companies have unanimously approved the agreement. Factoring in this hidden liability reveals that UTI is much less profitable than it appears on the surface. 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.
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