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PHOENIX - Universal Technical Institute, Inc. (NYSE: UTI), a prominent provider of workforce education for various sectors, has named Bruce Schuman as its new Chief Financial Officer effective today. Schuman brings a wealth of experience from his previous financial leadership roles, most notably at Vacasa and Kiavi, where he was credited with driving profitability and preparing the companies for significant financial milestones, including an IPO. The appointment comes as UTI demonstrates strong market performance, with InvestingPro data showing an impressive 85% return over the past year and a market capitalization of $1.46 billion.
Jerome Grant, CEO of Universal Technical Institute, expressed confidence in Schuman’s ability to contribute to the company’s growth, especially as it embarks on the second phase of its North Star strategy. This strategy aims to deliver a compound annual growth rate (CAGR) of approximately 10% in revenue and expand its Adjusted EBITDA margin to nearly 20 percent through fiscal 2029. According to InvestingPro analysis, analysts are optimistic about the company’s prospects, with price targets ranging from $31 to $36, suggesting potential upside from current levels. The company currently maintains a "GREAT" financial health score, reflecting strong operational performance.
Christine Kline, who served as interim CFO since October, will resume her role as Chief Accounting Officer. The company acknowledged her contributions during her interim tenure, which helped maintain momentum in the Finance organization.
Schuman’s appointment comes at a time when Universal Technical Institute reported positive financial results for the first quarter of fiscal 2025. The company saw improvements in revenue, Adjusted EBITDA, and new student starts compared to the previous year and also increased its fiscal year guidance ranges.
The company’s North Star strategy focuses on growth, diversification, and optimization, with initiatives across its two operating segments: UTI, which provides education in transportation, skilled trades, and energy, and Concorde Career Colleges, specializing in healthcare professions.
Universal Technical Institute, founded in 1965, operates 15 campuses under the UTI division and 17 campuses under Concorde Career Colleges. It offers programs in transportation, skilled trades, and healthcare education, addressing the demand for skilled workers in the U.S. The company’s financial metrics reveal a robust 14.7% revenue growth in the last twelve months, with a healthy gross profit margin of 55%. For deeper insights into UTI’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
This announcement is based on a press release statement from Universal Technical Institute, Inc.
In other recent news, Universal Technical Institute (UTI) has reported several key developments. The company recently held its Annual Meeting, where shareholders re-elected four Class III directors and approved Deloitte & Touche LLP as the independent auditor for the fiscal year ending in September 2025. Additionally, the executive officers’ compensation received advisory approval from shareholders, indicating solid support for the company’s leadership and governance practices. In another development, Rosenblatt Securities increased its price target for UTI shares to $36, maintaining a Buy rating due to the company’s impressive performance and strategic initiatives. Analyst Steve Frankel noted UTI’s strong corporate partnerships and high return on investment for students as significant factors for the raised target. Furthermore, UTI announced the expansion of its Manufacturer Specific Advanced Training offerings with Tesla’s START Collision Repair program at its Long Beach campus, set to begin in Spring 2025. This marks a notable collaboration between UTI and Tesla, providing specialized training that could lead to employment at Tesla’s Internal Collision Repair Centers. These recent developments underscore UTI’s ongoing efforts in strategic growth and educational innovation.
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