Welcome to our dedicated page for Lincoln Educational Services news (Ticker: LINC), a resource for investors and traders seeking the latest updates and insights on Lincoln Educational Services stock.
Lincoln Educational Services Corporation (Nasdaq: LINC) is a prominent provider of career-oriented post-secondary education. Since its establishment in 1946, Lincoln has been committed to bridging the skills gap in America by offering hands-on training and education. The company operates campuses in 13 states under several brands, including Lincoln Technical Institute, Lincoln College of Technology, Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts and Sciences.
Lincoln offers a wide array of programs tailored to meet the demands of various industries, including automotive technology, skilled trades, healthcare services, culinary arts, hospitality services, and business and information technology. Over the years, the institution has helped more than a quarter-million graduates embark on successful careers.
Recent Achievements:
- Entered into a $40 million revolving credit facility with Fifth Third Bank, enhancing financial flexibility.
- Completed a sale leaseback transaction for a property in Levittown, Pennsylvania, ensuring the opening of a new campus in the second half of 2025.
- Announced strong financial results for Q4 2023, with revenue and EBITDA growth in the Campus Operations segment.
- Expanded into Houston, Texas with a new campus expected to open in early 2026.
Lincoln's robust financial condition is marked by $80 million in cash reserves and no debt, providing a strong foundation for continued growth. The company's strategic initiatives include the relocation and expansion of campuses and the introduction of new programs to meet the evolving needs of students and employers.
The company also maintains valuable partnerships, such as a recent $6 million agreement with CMC for on-site employee training. These collaborations underscore Lincoln's commitment to providing high-quality education and training that align with industry requirements.
Lincoln continues to focus on its mission to enhance shareholder value and deliver positive outcomes for students, faculty, and corporate partners. For more information, visit www.lincolntech.edu.
Lincoln Educational Services announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas on November 21-22, 2024. CEO Scott Shaw will present the company's recent performance, highlighting Q3 results including 15% revenue growth, 21.1% increase in student starts, and 67% growth in adjusted EBITDA year-over-year. The presentation will showcase the company's growth initiatives, including new campus development and program expansion, capitalizing on increasing interest in skilled trades training as an alternative to traditional college education.
Lincoln Educational Services reported strong Q3 2024 results with revenue increasing 15.0% to $114.4 million. Student starts grew 21.1%, with quarter-end student population rising 13.3%. The company achieved net income of $4.0 million and adjusted EBITDA of $10.2 million. The new East Point, Georgia campus outperformed expectations, enrolling approximately 600 students and generating $5.0 million in revenue. Based on strong performance, Lincoln raised its 2024 guidance, projecting revenue of $430-$435 million and adjusted EBITDA of $41-$43 million. The company maintains strong liquidity exceeding $90 million with no debt outstanding.
Lincoln Educational Services (NASDAQ: LINC) announced that its partnership with Johnson Controls has led to over 500 job placements for skilled building trade graduates since 2018. Recent recruiting events resulted in more than 100 job offers to Lincoln Tech students. The partnership boasts a 90%+ retention rate for direct hires. The companies aim to hire 300 additional technicians in 2025. The collaboration includes the JCI Academy, a six-week intensive training program available at Denver and Columbia campuses, focusing on security installation and fire services systems. Johnson Controls covers tuition, housing, and relocation expenses for eligible students.
Lincoln Educational Services (NASDAQ: LINC) announced that two of its Board members, Anna Cabral and Marta Newhart, have been named to Board Prospect Magazine's Top 100 Latino Board Members list during Hispanic Heritage Month. Cabral, former U.S. Treasurer under President George W. Bush, led financial education initiatives for underserved populations and served at the Inter-American Development Bank. Newhart, currently Senior Advisor at APCO Worldwide's International Advisory Council, brings global expertise in marketing, communications, and brand management from roles at Westinghouse Electric Company and other organizations.
Lincoln Educational Services (NASDAQ: LINC) has been named to Newsweek's America's Greatest Workplaces list for the second consecutive year. The recognition encompasses both the Parsippany, NJ headquarters and nationwide campuses, highlighting the company's excellence in employee satisfaction, company culture, and growth opportunities.
The achievement is particularly noteworthy amid national worker engagement reaching an 11-year low of 30% according to Gallup. The ranking was based on comprehensive employee surveys covering compensation, benefits, career progression, diversity, work-life balance, and company culture. The evaluation also considered the organization's online reputation and management reviews.
Lincoln Educational Services (LINC) has announced its upcoming third quarter earnings conference call scheduled for November 11, 2024, at 10:00 a.m. Eastern time. The financial results will be released via news release before 9:30 a.m. Eastern time on the same day. The company will host both a webcast and teleconference for participants, with the webcast recording available for 90 days afterward. Lincoln operates 22 campuses across 13 states, offering career-oriented programs in automotive technology, health sciences, skilled trades, business and information technology, and hospitality services.
Lincoln Educational Services (NASDAQ: LINC) has partnered with Hyundai Motor America (HMA) & Genesis Motor America (GMA) to launch two new employer-specific training programs. These programs, the Hyundai Performance Institute Technician Student Program and the Genesis Technician Student Academy, will supplement Lincoln Tech's Automotive Service Technology programs at no additional cost to students.
The web-based training allows future technicians to begin their certification process before being hired at a dealership. With over 675,000 Automotive Technician positions projected to become available by 2032, these programs aim to help employers maintain a steady pipeline of trained applicants. Hyundai has donated vehicles and scan tools to support the program at several Lincoln Tech campuses.
This partnership is expected to accelerate the hiring process for Lincoln Tech graduates and provide Hyundai with technicians experienced in their specific technologies. The Automotive Service Technology program is available at multiple Lincoln Tech campuses across the United States.
The Lincoln Foundation for Education (LiFE) has received a generous donation from Matco Tools, a leading provider of tools and equipment for the auto, diesel, and collision repair industries. Matco Tools has committed to providing $100,000 annually through 2028 to benefit students attending Lincoln Technical Institute (LTI).
The funds will be used for scholarships and awards for both new and current LTI students in Automotive Service Technology, Diesel and Truck Service Technology, and Collision Repair and Refinishing Technology programs at 12 campuses. $90,000 will be allocated for need-based scholarships for new students, while $10,000 will be awarded to current students based on academic performance and skills-based competitions.
This donation aims to support students training for careers in transportation fields, where more than 1 million openings are projected nationwide by 2032. The partnership between Matco Tools and LiFE seeks to bridge the skills gap in the transportation industry and empower the next generation of technicians.
Lincoln Educational Services (NASDAQ: LINC) has announced the launch of HVAC Technology and Electrical and Electronic Systems Technology (EEST) career training programs at its Moorestown, NJ campus. This expansion aims to address the projected 30,000 job openings in these industries across New Jersey by 2032. The Moorestown campus, which has been offering healthcare and IT training for over a decade, will now provide six in-demand career fields for students.
The new HVAC program offers 1200 instructional hours and can be completed in about a year, focusing on commercial refrigeration, heating systems, and air conditioning. The EEST program follows a similar timeline, covering electrical and electronic systems for commercial and residential applications. Both programs emphasize hands-on training and prepare students for entry-level positions in their respective fields.
A grand opening event for the new training area is scheduled for September 27th, 2024, with attendance from Lincoln Tech executives, local politicians, and industry partners.
Lincoln Educational Services (LINC) announced its participation in the 17th Annual Barrington Research Virtual Fall Investment Conference on September 12th, 2024. President and CEO Scott Shaw will meet with institutional investors to discuss the company's recent performance and growth strategy. Highlights include:
- Q2 revenue growth of 16.1%
- Student starts increase of 12.3%
- Adjusted EBITDA more than doubled compared to Q2 2023
The company aims to showcase its potential for increasing shareholder value through expansion of campuses and in-demand programs to meet the growing need for skilled workers in the U.S. economy.
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