Highest-materiality recent filing
UTI Q2 revenue up 6.7% to $221.4M, but net income drops to $0.4M from $11.4M due to growth costs
Revenue $221.4M (+6.7% YoY); net income $0.4M ($0.01 EPS) vs $11.4M ($0.21 EPS) last year.
Robert T. DeVincenzi, Jerome A. Grant, Shannon L. Okinaka elected as Class I directors through 2029.
Universal Technical Institute amends Code of Conduct with non-substantive updates
On March 11, 2026, board approved amended and restated Code of Conduct.
Universal Technical Institute Q1 2026 Revenue Rises 9.6% to $220.8M, Net Income Declines to $12.8M
Revenue increased 9.6% to $220.8M in Q1 fiscal 2026.
FY2025 revenue $835.6M (+14% YoY); net income $63.0M (+50%); diluted EPS $1.13 vs $0.75.
UTI announces three new campus locations for fiscal 2027 in Utah, Texas, Georgia
UTI-Salt Lake City: 113,000 sq ft, serving >3,000 students; programs include aviation, automotive, electrical, HVAC, welding.
UTI Q3 revenue $204.3M (+15.1%), net income $10.7M (+113.9%); raises FY revenue guidance low end
Revenue $204.3M (up 15.1% YoY); net income $10.7M vs $5.0M; EPS $0.20 basic / $0.19 diluted.
Universal Technical Institute Q2 revenue $207.4M (+12.6% YoY); raises FY2025 guidance
Revenue $207.4M (+12.6% YoY); net income $11.4M ($0.21 EPS), up 47% from $7.8M.
UTI promotes Todd Hitchcock to COO, appoints Adrienne DeTray as CIO; completes exec team
Todd Hitchcock named COO effective March 31, 2025; he was EVP/Chief Strategy and Transformation Officer.
Universal Technical Institute appoints Bruce Schuman as CFO effective March 17, 2025
Bruce Schuman named CFO; base salary $475K, target cash incentive 65% of base.
Universal Technical Institute holds 2025 Annual Meeting; all proposals pass
Elected four Class III directors: Sanchez, Shackelton, Slubowski, Trammell each with >41M votes for.
UTI beats Q1 estimates; raises FY2025 revenue, EBITDA, and EPS guidance
Q1 revenue $201.4M (+15.3% YoY); net income $22.2M (+113.2%); diluted EPS $0.40 vs $0.17.
Q4 revenue $196.4M (+15.3% YoY); net income $18.8M (+180.6%); adjusted EBITDA $37.3M (+94.6%).
UTI amends credit agreement to $125M revolver, adds $25M accordion, extends maturity to Nov 2027
Revolving loan commitment increased to $125.0 million from prior amount.
UTI CFO Troy Anderson resigns; Christine Kline named interim CFO effective Oct 11
Troy Anderson resigns as EVP and CFO effective Oct 11, 2024, to take a position at another public company.
Revenue $177.5M (+15.8%), net income $5.0M vs loss $0.5M, EPS $0.09 vs ($0.05).
UTI announces 'North Star Strategy' Phase 2 targeting 10% CAGR, ~20% EBITDA margin by FY2029
Next phase targets ~10% revenue CAGR and Adj. EBITDA margin near 20% by fiscal 2029.
UTI Q2 FY2024: Rev $184.2M, net income $7.8M, EPS $0.14; raises FY2024 guidance
Revenue $184.2M (+12.4% YoY); net income $7.8M vs $3.5M; diluted EPS $0.14 vs $0.04.
UTI amends equity plan adding 3.3M shares; director Blaszkiewicz resigns
Director David A. Blaszkiewicz resigned from Board; no disagreement. Michael A. Slubowski becomes Compensation Committee Chair.
Universal Technical Institute Q1 revenue $174.7M, net income $10.4M; raises FY guidance
Revenue $174.7M (+45.6% YoY); net income $10.4M vs $2.6M; diluted EPS $0.17 vs $0.02.
UTI repurchases $10.78M Series A preferred, converts all shares; appoints Chris Shackelton director
Repurchased 33,300 Series A Preferred shares from Coliseum affiliates for $10.78M in cash.
Appoints Christine Kline as Chief Accounting Officer effective Dec 4, 2023
Christine Kline, age 45, appointed Chief Accounting Officer and principal accounting officer.
UTI beats FY2023 guidance; guides FY2024 rev $705-715M, adj EBITDA $98-102M
FY2023 revenue $607.4M (exceeded $602-605M); adj net income $22.3M (exceeded $17-20M).
Removed requirement that outstanding amount not exceed $20M for 30 consecutive days (clean off provision).
UTI reports Q3 revenue $153.3M (+51.8%), net loss $0.5M; raises FY2023 guidance
Revenue of $153.3M (up 51.8%) driven by Concorde acquisition; UTI segment revenue $100.9M (-0.1%).
Universal Technical Institute Q2 revenue $163.8M, adjusted EBITDA $19.2M, reaffirms FY guidance
Revenue rose 60.5% to $163.8M, driven by Concorde acquisition ($56.3M) and UTI segment +5.4%.
Purchase price of $26.0 million for three buildings totaling 154,300 sq ft on a 20-acre parcel.
Elected four Class I directors: Blaszkiewicz, DeVincenzi, Grant, Okinaka with over 21.5M votes each; broker non-votes ~2.5M.
Universal Technical Institute appoints Michael Slubowski to board of directors
Slubowski appointed as independent Class III director effective March 1, 2023, serving until 2025 annual meeting.
UTI acquires Concorde Career Colleges; Concorde FY2021 revenue $193.7M, net income $3.6M
Acquisition closed Dec 1, 2022; amendment provides audited/unaudited financials and pro forma data.
UTI reports Q1 revenue $120M (+14% YoY), net income falls to $2.6M from $14.8M
Revenue $120.0M, up 14.2% YoY; Concorde contributed $14.4M from Dec 1 acquisition.
UTI reports FY2022 revenue $418.8M (+25%); guides FY2023 $595-$610M
FY2022 revenue $418.8M (+25% YoY), net income $25.8M, adjusted EBITDA $55.9M (+71.8%); all met/surpassed guidance.
UTI completes $50M cash acquisition of Concorde Career Colleges, expanding into healthcare education
Cash purchase price $50M; Concorde operates 17 campuses in 8 states with ~8,000 students.
Revenue ~$418.8M; adj. EBITDA expected >=$55M; FY2022 results in line with guidance.
UTI amends Code of Conduct for employment of relatives
Board approved amendment effective Sept 21, 2022 to Code of Conduct.
UTI reports Q3 FY2022 revenue up 20.5% to $101M, adjusted EBITDA up 53% to $11M
Revenue $101.0M (+20.5% YoY); new student starts +25.0%; average active students +11.4%.
UTI to acquire Concorde Career Colleges for $50M cash, expanding into healthcare education
Acquisition price $50M cash; Concorde 2021 revenue ~$180M, adjusted EBITDA $13M.
UTI reports Q2 revenue up 31% to $102.1M; net income $7.4M; announces acquisition of Concorde
Revenue $102.1M (+31.4% YoY); net income $7.4M vs. loss of $1.5M; adjusted EBITDA $10.9M vs. $2.8M.
UTI's subsidiary enters $38M term loan with Valley National Bank to refinance Lisle campus mortgage
Term loan principal $38M, matures in 7 years; interest at 1-month SOFR + 2.0%.
UTI appoints Hawaiian Airlines CFO Shannon Okinaka to board; director McWaters retires
Shannon Okinaka, EVP & CFO of Hawaiian Airlines, appointed to UTI board effective March 9, 2022, as Class I director.
UTI stockholders elect Trammell and Sanchez as Class III directors, ratify Deloitte as auditor
Kenneth R. Trammell elected with 27,835,202 affirmative votes; Loretta L. Sanchez with 29,009,866 votes.
UTI acquires remaining 72% stake in Lisle campus for $28.2M cash plus debt assumption
Paid $28.2M cash plus assumed debt to buy out joint venture partner's ~72% stake, now owns 100% of 2611 CWD.
UTI subsidiary purchases 34.2% indirect interest in own Lisle campus, raising ownership to 62.2%
Purchase price was $13.4 million, paid with cash on hand.
Universal Technical Institute Q1 revenue up 38% to $105.1M; net income $14.8M vs $1.1M
Revenue $105.1M (+38% YoY); net income $14.8M vs $1.1M; EPS $0.25 vs ($0.01).
UTI Q4 revenue $97.5M (+27.7% YoY), net income $12.0M; FY22 revenue guidance $405-$420M
Q4 new student starts +6.8%; average active students +8.1%. Revenue $97.5M vs $76.3M prior year.
UTI completes $26M cash acquisition of MIAT College of Technology
Acquisition adds campuses in Texas and Michigan; MIAT offers programs in aviation, wind, robotics, and welding.
UTI posts Q3 revenue up 54% to $83.8M, net income of $3.0M vs loss; reaffirms FY guidance
Revenue $83.8M (+53.8% YoY); net income $3.0M vs net loss of $13.3M in prior year.
On March 31, 2025 (the “ Transition Date ”), Universal Technical Institute, Inc., a Delaware corporation (the “ Company ”), announced the transition of Todd Hitchcock to the role of Chief Operating Officer, effective immediately (the “ Transition ”).
On March 17, 2025 (the “ Effective Date ”), Universal Technical Institute, Inc., a Delaware corporation (the “ Company ”), announced the appointment of Bruce Schuman to the role of Chief Financial Officer, effective immediately.
In connection with Mr. Schuman’s appointment to the role of Chief Financial Officer, Christine Kline resigned from the positions of Interim Chief Financial Officer and principal financial officer, effective as of the Effective Date.
In connection with Mr. Anderson’s resignation, Christine Kline, the Vice President and Chief Accounting Officer of the Company, will be named Interim Chief Financial Officer and will assume the duties as the principal financial officer for the Company, effective as of the Effective Date.
On September 5, 2024, Troy Anderson, the Executive Vice President and Chief Financial Officer of Universal Technical Institute, Inc., a Delaware corporation (the “ Company ”), notified the Company that he is resigning from all offices and positions that he holds with the Company and its subsidiaries, effective as of October 11, 2024 (the “ Effective Date ”), to pursue a new position outside the Company.
Effective March 7, 2024, David A. Blaszkiewicz resigned from his position as a member of the Board, including as a member of the Compensation Committee.
the Board appointed Mr. Shackelton as a Class III director of the Board
has appointed Christine Kline to the position of Chief Accounting Officer, effective December 4, 2023
On March 1, 2023, on the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “ Board ”) of Universal Technical Institute, Inc. (the “ Company ”), the Board appointed Michael A. Slubowski as a Class III director of the Board
the Board appointed Shannon Okinaka as a Class I director of the Board
Effective March 9, 2022 , Kimberly J. McWaters resigned from her position as a member of the Board.
Max materiality 0.90 · Median 0.70 · Most common event earnings