Universal Technical Institute Reaffirms 2029 Goals Despite 2026 Enrollment Headwinds

UTI reaffirmed its 2029 targets of more than $1.2 billion in revenue and approximately $220 million in EBITDA, despite lowering its 2026 outlook to about $900 million in revenue and $100 million–$103 million in EBITDA.

The company expects roughly 12% student growth in 2026, but enrollment is shifting toward shorter, lower-cost skilled-trades programs. High-school recruiting turnover at five campuses also contributed to approximately 1,000 fewer auto and diesel students.

UTI plans to pursue organic expansion by adding 10–20 programs and opening about two UTI and two Concorde campuses annually, supported by $110 million–$120 million in yearly construction and launch spending.

Universal Technical Institute (NYSE:UTI) CEO Jerome Grant outlined the workforce education provider's expansion plans, student-outcome metrics and revised 2026 outlook at the IDEAS Conference, citing a near-term enrollment mix shift and high-school admissions disruption while maintaining the company's longer-term targets.

Grant said the company operates 35 campuses nationwide, offers roughly 35 to 36 programs and serves about 25,000 active students. Its UTI brand focuses on transportation, skilled trades and energy programs, while Concorde Career Colleges serves healthcare occupations including nursing-adjacent and clinical support roles.

The company reported a graduation rate of about 70%, with roughly 80% to 85% of graduates obtaining jobs in their field within a year, according to Grant. He also said employer satisfaction is approximately 96% to 97%.

Grant said the company's 2026 outlook calls for approximately $900 million in revenue, net income of $32 million to $36 million and EBITDA of $100 million to $103 million. While the company recently lowered its guidance following its third quarter, Grant said management remains on track toward its 2029 goals of more than $1.2 billion in annual revenue and roughly $220 million in EBITDA.

The company's second phase of its "North Star" strategy is focused on organic expansion rather than acquisitions. Grant said the plan includes adding between 10 and 20 programs annually and opening an average of two UTI campuses and two Concorde campuses per year over the next five years.

Management expects annual growth of about 10% during the strategy period, with 2% to 3% coming from same-store enrollment growth, 2% to 3% from pricing, and the remaining approximately 5% from new campuses and programs.