UTI - The AI Trade Needs The Trades; PT to $47

研报英文原文证据摘录

UTI - The AI Trade Needs The Trades; PT to $47

tio/% Of Float 8.9% have a proofpoint in the Heartland Dental (Private) co-branded campus. Meta's America's

Enterprise Value ($M) 2,361 Workforce Academy announcement was cited as an incremental positive in this regard

Cash & Equivalents ($M) 87 given: (1) more attention to the space; (2) validation that skilled trades shortages are severe

Total Debt ($M) 131 enough employers are willing to invest behind talent pipelines; and (3) potential future

upskilling opportunities given the short duration of Meta's program (5-6 weeks).

5 Page Document UTI not seeing CAC disrupted by consumer shift from search to GenAI. On the demand

funnel, the shift from traditional SEO to generative AI discovery does not appear to be a

near-term headwind. Underlying demand remains intact and UTI has effectively adapted

Reasons for this report through a multi-agency, test-and-learn approach. Importantly, the company is not seeing

degradation in lead flow at this point.

✓ Truist Securities Hosted Event Takeaways

New campus ramps progressing well. UTI reiterated that San Antonio and Atlanta (due

to enroll its first students next month) are tracking well. One key difference highlighted vs.

prior campus launches is a new data-driven site-selection process that incorporates AI to

optimize not just market entry but precise campus placement and targeted program mix. UTI

mentioned at our conference earlier this month that the first three student cohorts at the San

Antonio campus are filling ahead of plan.

F3Q preview: comfortable w/ EBITDA ramp into F4Q, demand backdrop supports

start growth goals. We expect F3Q starts and F4Q start guidance to fall in-line or slightly

ahead of management guidance for high-single-digit increases given the supportive demand