Universal Technical Institute Executing on Major Program Expansions

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Aug 01, 2023, 16:30 ET

Five new programs started their first cohorts of students at four campuses in July, with nine more programs planned across five additional campuses launching over the next 60 days.

PHOENIX, Aug. 1, 2023 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI) (the "Company"), a leading workforce solutions provider of transportation, skilled trades, energy, and healthcare education programs, launched the Airframe and Powerplant, HVACR, Wind Power, Industrial Maintenance, and Welding programs at four of its UTI division campuses in July, and is admitting new students in nine more programs at five additional campuses. The remaining programs are planned to begin classes in August and September and include Robotics & Automation.

These program expansions are another important step in the execution of the Company's growth and diversification strategy, first announced in early 2021. Approximately 70 students started in the five programs launched in July. Once fully operational, these programs will be able to support more than 1,000 students annually who are seeking careers in the skilled trades and energy sectors.

"The acquisition of MIAT College of Technology and the continued success of our welding programs have allowed us the opportunity to expand our UTI division program offerings across our national campus footprint," commented Jerome Grant, chief executive officer. "The program expansions, along with the two new UTI campuses launched in 2022, and the acquisition of Concorde Career Colleges this fiscal year, are a key element of our growth and diversification strategy."

With the current program expansion effort, the Company is optimizing its existing UTI division campus footprint to include Airframe and Powerplant, HVACR, Industrial Maintenance, Robotics and Automation, and Wind Power in addition to the current automotive, diesel, welding, motorcycle, and marine mechanic programs. Including the July launches, new programs are currently planned across nine campuses in seven states. Potential future expansions may also be considered.

The Airframe and Powerplant¹ program at UTI-Avondale has received Federal Aviation Administration approval. Two additional campuses, UTI-Long Beach and UTI-Miramar are pending FAA approval.

The Company will hold its Fiscal Third Quarter 2023 Conference Call on Tuesday, August 8, 2023, at 4:30 p.m. (ET). The Company's most recent investor presentation can be found here.

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 Twitter @news_UTI or @ConcordeCareer.

¹ The Airframe & Powerplant and Aviation Maintenance Technology programs prepare graduates to pursue entry-level careers in the aviation industry or related fields. Graduates are eligible to apply and test for an FAA-issued mechanic certificate. Career options may be limited without an FAA-issued mechanic certificate, and salaries may be lower. UTI and MIAT are educational institutions and cannot guarantee employment, salary, or FAA certification.

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SOURCE Universal Technical Institute, Inc.