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. Contact an Admissions Representative to begin the enrollment process. The problem with that is there were eligibility requirements in place for a reason, and it could result in a negative reputation for the company over time if more students gain admittance but struggle with paying back loans they possibly shouldn't have received. Take 60 seconds and find out how you can get trained. easier for students to qualify by lower eligibility restrictions and making them more accessible to students. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Media ContactAlanna Vitucciavitucci@uti.edu480.710.6843, View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-technical-institute-expands-platform-of-workforce-solutions-offerings-with-completion-of-concorde-career-colleges-inc-acquisition-301692062.html. Whether or not UTI is truly guilty of any wrongdoing, the presence of these allegations against it and for-profit schools, in general, serves as a deterrent to potential students. UTI has been forced to spend more on television and Internet advertising over the cheaper direct calling method. Choose from a range of programs you need to get the technical career you want. To that end, you should learn about the 2 warning signs we've spotted with Universal Technical Institute (including 1 which is a bit concerning) . Talk to potential employers to learn more about the programs available in your area. rate. The most recent data shows that average enrollment has again decreased in 2014, which exerts further downward pressure on profitability. 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. Search trends for automotive education are down 10% year-over-year. 4 out of 5 UTI graduates find employment in careers within their field of study within 1 year of graduation. Concorde Career Colleges' 20 student-focused academic programs and personalized support prepare graduates for in-demand careers in nursing, dental, respiratory, diagnostic, and other health care roles. We can see that Universal Technical Institute does have institutional investors; and they hold a good portion of the company's stock. Expands Universal Technical Institute, Inc.'s career-focused education brand portfolio into certificate, credential, and degree-granting healthcare programs. UTIs recent history of extremely poor capital allocation does not give me faith in the company to execute this kind of turnaround. Of course, keep in mind that there are other factors to consider, too. Courses take up either most of the day or most of the night so it's hard to work and go to school at the same time. 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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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. 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. We won't find out until next quarter whether or not that has actually translated into new student applications or not. The firm said it grew adult applications by 10 percent (year-over-year) in April, and while cautious in outlook because of it being only one month, it is the first time in a long time since adult student applications increased. Adjusted EBITDA is a non-GAAP financial measure which is provided to supplement, but not substitute for, the most directly comparable GAAP measure. If it is, UTI has a future, if not, the share price will continue to take a big hit. 47) The U.S. Bureau of Labor Statistics projects that total national employment for Automotive Service Technicians and Mechanics will be 743,800 by 2031. Investors should not expect the companys current buyback and dividend to continue much longer. Concorde offers over 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnostic fields. Google 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. This may not be consistent with full year annual report figures. 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. Dear Better Business Bureau of Orlando, On Monday, August 15, 2022, Universal Technical Institute (UTI) Orlando, FL campus received complaint case #XXXXXXXX. You may opt-out by. Universal Technical Institute welcomes General Education Diploma students. UTI is an educational institution and cannot guarantee employment or salary. The acquisition expands Universal Technical Institute's portfolio of offerings into the higher-growth healthcare arena and creates the opportunity to bring workforce educational solutions to a broader array of students and employers. 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 . Even as a potential turnaround investment Universal Technical Institute doesn't look particularly attractive, as when poring over its numbers, market conditions, and strategy, there is little in the way of catalysts that would result in a surprise to the upside.