Universal Technical Institute Continues Execution of Growth and Diversification Strategy with Additional Program Expansions

Rhea-AI Summary

Universal Technical Institute (UTI) announces program expansions in HVACR in several locations, following successful rollout of 13 new programs. UTI expects to serve over 1,000 additional students.

Positive

• UTI continues to execute growth and diversification strategy with program expansions
• Expansion of programs expected to launch in late fiscal 2024 and early fiscal 2025
• Opportunity for more than 1,000 additional students to achieve credentials and have rewarding careers

Negative

• None.

More than 1,000 additional students to be served within existing campus footprint.

PHOENIX, Oct. 23, 2023 /PRNewswire/ -- Universal Technical Institute (UTI), the transportation, skilled trades and energy division of Universal Technical Institute Inc., today continued to execute on its growth and diversification strategy with the announcement of additional program expansions of Heating Ventilation Air Conditioning and Refrigeration (HVACR) in Avondale, Ariz.; Bloomfield, N.J.; and two California locations, Long Beach and Sacramento. The programs are expected to launch in late fiscal 2024 and early fiscal 2025. This follows the successful rollout of 13 new programs across eight campuses during its fiscal 2023 fourth quarter. In addition, UTI expects to launch its Airframe and Powerplant Technician program at the UTI-Miramar campus by the end of 2023, following completion of the Federal Aviation Administration certification process.

"A major pillar of UTI Inc.'s growth and diversification strategy is to expand our programs across the existing campus footprint. At the UTI division, a key priority is to grow beyond the historical core automotive and diesel technician programs. Starting with welding—and followed by the eight programs with significant employer demand we obtained through last year's acquisition of MIAT College of Technology—we are repositioning the UTI division as a leading workforce solutions provider of skilled trades and energy education in fast-growing fields in addition to transportation," said Tracy Lorenz, President of the UTI division.  

Added Troy Anderson, Chief Financial Officer of UTI Inc., "The UTI division's successful program expansion has been accomplished by optimizing our campus footprint and course offerings.  This will provide the opportunity for more than 1,000 additional students to achieve credentials and have rewarding careers in in-demand fields."

The initial rollout of 13 programs included Airframe and Powerplant, Heating Ventilation Air Conditioning and Refrigeration (HVACR), Industrial Maintenance, Robotics & Automation, Welding, and Wind Power. Approximately 230 new students started in these programs during the fiscal 2023 fourth quarter. The programs (and associated locations) are:

• Airframe and Powerplant Technician: UTI Avondale and UTI Long Beach
• HVACR Technician: UTI Austin and NASCAR Tech
• Wind Turbine Technician and Industrial Maintenance Technician: UTI Lisle and UTI Rancho Cucamonga
• Robotics and Automation: UTI Exton, UTI Lisle, NASCAR Tech and UTI Rancho Cucamonga
• Welding: UTI Sacramento

The Company's most recent investor presentation can be found here. For more information on UTI's programs and locations, visit https://www.uti.edu/.

About Universal Technical Institute, Inc.

Universal Technical Institute, Inc. (NYSE: UTI) (the "Company") 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 careers across a number of highly skilled fields. The Company is comprised of two divisions: Universal Technical Institute ("UTI") and Concorde Career Colleges ("Concorde"). UTI operates 16 campuses located in 9 states and offers a wide range of transportation and skilled trades technical training programs under brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute and NASCAR Technical Institute. Concorde operates across 17 campuses in 8 states, offering programs in the Allied Health, Dental, Nursing, Patient Care and Diagnostic fields. For more information, visit www.uti.edu or www.concorde.edu, or visit us on LinkedIn at @UniversalTechnicalInstitute and @Concorde Career Colleges or on X @news_UTI or @ConcordeCareer.

Media Contact:

Alanna Vitucci
avitucci@uti.edu
480.710.6843

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SOURCE Universal Technical Institute, Inc.

FAQ

What is Universal Technical Institute (UTI) announcing?

UTI is announcing program expansions in HVACR in several locations.

When are the new programs expected to launch?

The new programs are expected to launch in late fiscal 2024 and early fiscal 2025.

How many additional students will be served?

UTI expects to serve over 1,000 additional students.

What is UTI's growth and diversification strategy?

UTI's strategy is to expand programs across the existing campus footprint and grow beyond the historical core automotive and diesel technician programs.

What other programs were rolled out in fiscal 2023?

The initial rollout included programs in Airframe and Powerplant, HVACR, Industrial Maintenance, Robotics & Automation, Welding, and Wind Power.

Where can I find more information on UTI's programs and locations?

More information can be found at https://www.uti.edu/.