Lincoln Educational Services Corp
NASDAQ:LINC

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Lincoln Educational Services Corp
NASDAQ:LINC
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Price: 22.02 USD -0.59% Market Closed
Market Cap: 696.3m USD

Lincoln Educational Services Corp
Investor Relations

Lincoln Educational Services Corp. engages in the provision of a career-oriented post-secondary education to recent high school graduates and working adults. The company is headquartered in Parsippany, New Jersey and currently employs 1,672 full-time employees. The company went IPO on 2005-06-23. The firm owns and operates approximately 22 campuses in approximately 14 states, offers programs in automotive technology, skilled trades, healthcare services, hospitality services and information technology. The Company’s segments include Transportation and Skilled Trades, and Healthcare and Other Professions (HOPS). The Transportation and Skilled Trades segment offers academic programs mainly in the career-oriented disciplines of transportation and skilled trades, including automotive, diesel, heating, ventilation and air conditioning, welding and manufacturing. The Healthcare and Other Professions segment offers academic programs in the career-oriented disciplines of health sciences, hospitality and business and information technology, including dental assistant, medical assistant, practical nursing, culinary arts and cosmetology.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 10, 2025
AI Summary
Q3 2025

Revenue Growth: Quarterly revenue rose 25.4% to $141.4 million, driven by strong student enrollment and tuition increases.

Student Starts: Student starts grew 6% year-over-year, beating internal forecasts and marking the 12th consecutive quarter of growth.

Profitability: Adjusted EBITDA surged 65.1% to $16.9 million, and adjusted net income grew 54.9% to $6.3 million or $0.20 per share.

Guidance Raised: Full-year 2025 guidance was increased for revenue ($505–510 million), adjusted EBITDA ($65–67 million), and net income ($17–19 million).

Expansion Momentum: New campuses in Houston and East Point exceeded expectations, and a new campus in Rowlett, Texas is slated for 2027.

Strategic Focus: Lincoln is expanding core skilled trades and healthcare programs, refining offerings, and targeting high school and veteran students.

Long-Term Outlook: 2027 revenue and EBITDA goals were raised to over $600 million and $90 million, respectively, with growth projected to be organic.

Healthy Cash Position: The company ended the quarter with $65.5 million in liquidity and expects to finish the year debt-free.

Key Financials
Revenue
$141.4 million
Adjusted EBITDA
$16.9 million
Net Income
$3.8 million
Adjusted Net Income
$6.3 million
Diluted EPS (Adjusted)
$0.20
Student Starts
6,400
Average Student Population
up nearly 20%
Ending Student Population
18,200
Revenue Per Student
up 4.8%
Cash from Operations
$23.9 million (quarter)
Total Liquidity
$65.5 million
Capital Expenditures
$21.7 million (quarter), $68.1 million (first nine months)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Scott M. Shaw
President, CEO & Director
No Bio Available
Mr. Brian K. Meyers CPA
Executive VP, CFO & Treasurer
No Bio Available
Mr. Chad D. Nyce
Executive VP & Chief Innovation Officer
No Bio Available
Mr. Valerian J. Thomas
Senior VP & Chief Information Officer
No Bio Available
Ms. Alexandra M. Luster J.D.
Senior VP, General Counsel & Corporate Secretary
No Bio Available
Mr. Francis S. Giglio
Senior Vice President of Compliance & Regulatory Services
No Bio Available
Mr. Peter Tahinos
Senior Vice President of Marketing
No Bio Available
Mr. Stephen E. Ace
Senior VP & Chief Human Resources Officer
No Bio Available
Ms. Susan L. English
Senior Vice President of Career Services & Industry Partnerships
No Bio Available
Mr. James A. Rasmussen Jr.
Senior VP of Admissions & Group VP
No Bio Available

Contacts

Address
NEW JERSEY
Parsippany
14 Sylvan Way, Suite A
Contacts
+19737369340.0
www.lincolnedu.com