Exhibit 99.1
Media Contact:
Susan Aspey
saspey@uti.edu
Universal Technical Institute, Inc. Announces Next Phase of “North Star Strategy”
to Accelerate Growth, Diversification and Optimization
Strategy expected to deliver approximately 10 percent revenue CAGR and expand Adjusted EBITDA
margin to nearly 20 percent through fiscal 2029
PHOENIX (August 5, 2024)—Universal Technical Institute, Inc., a leading workforce solutions provider, today announced the next phase of its
“North Star Strategy” to accelerate the company’s mission to close the skilled workforce gap in America. The core tenets of the strategy—growth, diversification and optimization—are the foundation for initiatives across the
company’s two divisions of Universal Technical Institute (UTI), which offers transportation, skilled trades and energy education programs; and Concorde Career Colleges, which specializes in the dental, nursing, and allied health
professions.
The second phase of the North Star Strategy is expected to deliver approximately 10% revenue CAGR and expand its Adjusted EBITDA margin to
nearly 20 percent through fiscal 2029.
“Five years ago, we launched the first phase of the North Star Strategy with a singular vision: to
realize the company’s fullest potential as a partner in solving the country’s shortage of skilled collar workers,” said Jerome Grant, CEO, Universal Technical Institute. “We achieved significant milestones in the years since,
including nearly tripling the number of campus locations and more than doubling the number of students we serve; more than doubling our revenue; and a more than five times increase in our profitability.”
Grant continued, “As we near the successful implementation of the first phase of the strategy, our company is stronger, more diverse and resilient. We
are now prepared to embrace the ambitious agenda we have set for the strategy’s second phase, which we believe will significantly increase the company’s value through impressive revenue growth and expanded profitability.”
Added Todd Hitchcock, EVP and Chief Strategy and Transformation Officer, “As we realize the success of this first phase, we are strongly positioned to
explore additional opportunities to support the critical need for highly trained, skilled collar workers in the United States. Pending regulatory approval, we expect to launch a minimum of six programs annually at our existing campuses beginning in
fiscal year 2025 and open at least two new campuses each year between fiscal years 2026 and 2029, which includes expanding Concorde’s campus offerings and footprint.”