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PHOENIX and ORLANDO, Fla. - Universal Technical Institute, Inc. (NYSE: UTI), a prominent provider of workforce education with a market capitalization of $1.38 billion, has appointed Todd Hitchcock as Chief Operating Officer, effective immediately. Hitchcock, who has been with UTI for five years, previously held the position of EVP, Chief Strategy and Transformation Officer. According to InvestingPro data, the company has demonstrated remarkable momentum with a 59.1% return over the past year.
As COO, Hitchcock will oversee operations for UTI’s two divisions: UTI, which focuses on education for transportation, skilled trades, and energy, and Concorde Career Colleges, which specializes in healthcare professions. His role will include the alignment of divisional operations with corporate objectives, as well as the continued development of corporate strategy and potential acquisitions.
The company’s CEO, Jerome Grant, expressed confidence in Hitchcock’s ability to execute the second phase of UTI’s North Star strategy, which aims to achieve a 10% revenue compound annual growth rate and expand its Adjusted EBITDA margin to nearly 20 percent by fiscal 2029. The company’s current financial health is rated as GREAT by InvestingPro, with strong fundamentals including a 55.26% gross profit margin and 14.7% revenue growth in the last twelve months.
In addition to Hitchcock’s promotion, UTI announced the appointment of Adrienne DeTray as Chief Information Officer. DeTray brings experience from Adtalem Global Education, where she led IT transformations, and has a background in healthcare and registered nursing. She is tasked with driving digital advancements to enhance student success and operational efficiency at UTI.
Grant emphasized the completion of the executive leadership team with these appointments and the company’s commitment to delivering educational experiences that benefit students, employers, and shareholders.
UTI recently reported improved financial results for the first quarter of fiscal 2025, with increased revenue, Adjusted EBITDA, and new student starts, leading to an upward revision of its fiscal year guidance.
This news article is based on a press release statement from Universal Technical Institute, Inc.
In other recent news, Universal Technical Institute reported positive financial results for the first quarter of fiscal 2025, with improvements in revenue, Adjusted EBITDA, and new student starts compared to the previous year. The company also increased its fiscal year guidance ranges, reflecting confidence in its strategic initiatives. Analysts from B.Riley revised their full-year 2025 revenue and EBITDA estimates upward to $815 million and $123 million, respectively, aligning with the company’s updated guidance. Rosenblatt Securities raised its price target for Universal Technical Institute to $36, maintaining a Buy rating, citing impressive performance and strong corporate partnerships.
Additionally, Universal Technical Institute has appointed Bruce Schuman as its new Chief Financial Officer, bringing experience from previous roles at Vacasa and Kiavi. In corporate governance developments, shareholders re-elected four Class III directors and ratified Deloitte & Touche LLP as the independent auditor. The company also announced a new training collaboration with Tesla, set to begin at the Long Beach campus in Spring 2025, as part of its Manufacturer Specific Advanced Training offerings.
This partnership will include Tesla’s START Collision Repair program, providing specialized skills for careers at Tesla. Universal Technical Institute continues to focus on its North Star Strategy, aiming for a compound annual growth rate of 10% in revenue through 2029.
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