Universal Technical Institute (UTI) outlined a five-year growth plan at the Midwest IDEAS Conference on Wednesday, projecting annual revenue of $1.2 billion by 2029, a 43.5% increase over its 2026 midpoint forecast. The company also set an EBITDA target of $220 million for 2029, more than double the $100 million to $103 million range projected for 2026.
The updated 2026 outlook includes expected revenue of approximately $900 million and net income of $32 million to $36 million, down from prior guidance. UTI operates 35 campuses under two brands—Universal Technical Institute and Concorde Career Colleges—and serves about 25,000 students. The company generated $836 million in combined revenue in 2025, with EBITDA of $126 million, compared to $317 million in revenue and $6 million in EBITDA in 2018.
UTI plans to open 20 new campuses by 2029, split evenly between its two brands, with construction costs ranging from $10 million to $26 million per campus. Technical trade campuses, such as those for automotive and diesel mechanics, cost between $25 million and $26 million each, while healthcare-focused campuses range from $10 million to $12 million. The company expects to invest $110 million to $120 million annually in campus construction, plus $45 million to $50 million in pre-opening operating expenses.
The growth strategy relies on organic expansion in existing units (2% to 3% annually), pricing adjustments (2% to 3%), and new campus contributions (5%), targeting a 10% aggregate growth rate. UTI’s automotive and diesel mechanics program, which costs $37,000 to $38,000 and spans 51 weeks, includes a 50-50 split between online academic work and hands-on instruction. By comparison, similar programs at community colleges average $12,000 over two years.
Enrollment pressures in 2026 stem from a projected shortfall of about 1,000 high school students across five campuses, driven by representative turnover, and a shift toward shorter, lower-cost trade programs. UTI allocated an additional $10 million to expand technical trades in existing campuses and adjust management practices. The company markets to about 40% high school students, with 180 representatives recruiting annually, up from 90 the prior year.
Revenue per student averages $9,000 per quarter, with healthcare programs split between clinical tracks like radiologic technology ($9,000 per quarter) and non-clinical tracks like medical assisting ($6,000 per quarter). Approximately 75% to 80% of UTI students qualify for Pell Grants, which can cover up to $13,000 for the automotive/diesel program. UTI’s graduate employment rate stands at 80%, with employer satisfaction reported between 96% and 97%.
