Universal Technical Institute will add 15 new programs in transportation and skilled trades across its UTI/MIAT National Campus

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Execution of MIAT College of Technology program expansion drives growth and diversification, provides students with additional training opportunities for in-demand careers

PHOENIX, June 9, 2022 /PRNewswire/ — Universal Technical Institute (UTI) is executing the next phase of its growth and diversification strategy by adding 15 new programs across its campus, including training technicians in aviation, HVACR, robotics, industrial maintenance and wind energy to branded campuses UTI and NASCAR Technical Institute (NTI), and initiate efforts to add Auto and Diesel Essentials to MIAT Canton, Michigan Campus.

With the recent acquisition of the MIAT College of Technology and subsequent integration largely complete, the company is implementing its plan to introduce MIAT programs to its UTI and NTI institutions. This will increase UTI’s addressable market size as the organization evolves to become a trusted industry-aligned workforce solutions partner with industry and learners.

“Through the disciplined execution of our growth and diversification strategy, we continue to expand access to our industry-aligned programs,” said UTI’s CEO. Jerome Grant. “This is a boon for our students, industry players and the investment community. Expanding the reach of our career-focused training programs will provide prospective students with more choice in their educational path. post-secondary education and will enable us to serve a broader population of learners and employers looking for strong workforce and training partners and solutions. Universal Technical Institute the longer-term strategic roadmap includes extensions of the MIAT program and a doubling of acquired business as a result. This, in addition to our recently announced intention to acquire Concorde Career Colleges, results in substantial increases to our estimated future revenues and profitability. As previously stated, we currently estimate that revenues for fiscal year 2025 will exceed $700 million with an estimated adjusted EBITDA margin of around 20%.

UTI is based on four pillars in its growth and diversification strategy: new campuses, program expansions, inorganic growth and extension of the business model. UTI’s new blended learning approach, which includes virtual learning and on-campus lab and classroom teaching, has enabled further optimization or consolidation of its campus footprints to make room for new programs.

Pending all regulatory approvals, initial additions to planned programs are expected to begin rolling out in the second quarter of fiscal 2023, with final planned programs launching by the end of 2024. At present, the majority of programs have received the necessary status and conditions. approvals from accreditors, with pending approvals from the Department of Education for all programs, as well as the Federal Aviation Administration for aviation programs.

Planned program launches include (listed alphabetically by campus):

  • UTI-Austin: HVACR
  • UTI-Avondale: Aviation
  • UTI-Exton: Robotics and Automation
  • UTI-Lisle: Wind power, Industrial Maintenance
  • UTI-Long Beach: Aviation
  • UTI-Miramar: Aviation
  • UTI-Rancho Cucamonga: Wind Power, Industrial Maintenance, Robotics and Automation
  • UTI-Sacramento: Wind Energy, Industrial Maintenance and Robotics and Automation
  • NTI-Mooresville: Robotics and Automation
  • MIAT-Canton: Auto and Diesel Essentials

“The acquisition of MIAT has allowed us to identify substantial growth synergies and accelerate our program and geographic diversification in transportation, renewable energy and skilled trades,” Grant continued. “We also continued to take other steps in executing our growth and diversification strategy this year. We started to implement our electric vehicle strategy, opened a new UTI campus in Austin, TX, added a new welding program at the NASCAR Technical Institute and announced the agreement to acquire Concorde Career College. This summer, we plan to open our 16th campus, located in Miramar, Florida and another welding program at our UTI-Exton campus.”

For more information on UTI’s growth and diversification strategy, see the most recent presentation on its Investor Relations website.

Non-GAAP Measures
UTI defines Adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation, amortization, and adjusted for items not considered part of the normal recurring operations of the business. UTI defines Estimated Adjusted EBITDA Margin as Estimated Adjusted EBITDA over Estimated Revenues. We have chosen to disclose this non-GAAP financial measure because it provides an additional measure of performance. Because the items excluded from these measures are important to understanding and evaluating financial performance under GAAP, these measures should not be considered as an alternative to net income or any other derived measure under GAAP as a measure of operational performance. or profitability.

About Universal Technical InstituteInc.
Founded in 1965 and based in Phoenix, the mission of Universal Technical Institute (NYSE: UTI) is to serve our students, partners, and communities by providing quality education and support services for in-demand careers. Approximately 250,000 students graduate from one of UTI’s 15 campuses located in Arizona, California, Florida, Illinois, Michigan, North Carolina, Pennsylvania, New Jersey, and Texas. UTI’s campuses are accredited by the Accrediting Commission for Professional Schools and Colleges (ACCSC), while its employer-aligned technical training programs are offered under four brands: Universal Technical Institute, Motorcycle Mechanics Institute/Marine Mechanics Institute, NASCAR Technical Institute and MIAT College. of Technology. For more information and a complete list of all programs offered, please visit www.uti.edu or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI.

Media Contact
Alanna Vitucci
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480-710-6843

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