Lincoln Educational Services to Highlight Growth Drivers and Business Momentum at Several Upcoming Industry and Investor Events

Rhea-AI Summary

Lincoln Educational Services (Nasdaq: LINC) will highlight its growth and business momentum at several industry and investor events in May and June 2024. Key events include the B. Riley Securities 24th Annual Institutional Investor Conference on May 22-23 in Beverly Hills, CA, the Lytham Partners Spring 2024 Investor Conference on May 30, and additional conferences in June in New York City, Minneapolis, Milwaukee, and Chicago. President and CEO Scott Shaw and CFO Brian Meyers will discuss the company's 15% increase in student starts and 20% revenue growth in Q1, 2024. The company has raised its financial guidance for the year, driven by strong demand in the automotive, skilled trades, and healthcare sectors.

Positive

• Lincoln Educational Services reported a 20% revenue growth in Q1 2024.
• Student starts increased by 15% in the first quarter of 2024.
• The company raised its financial guidance for the full year 2024.
• Participation in multiple investor conferences increases visibility and potential investor interest.
• Strong demand noted from employers for qualified employees in automotive, skilled trades, and healthcare sectors.

Negative

• Ongoing expenses related to attending multiple investor events could impact short-term financials.
• High reliance on continuous student and employer demand to meet raised financial guidance.

Parsippany, NJ, May 21, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC), a national leader in specialized technical training for more than 75 years, today announced that Scott Shaw, President and CEO, and Brian Meyers, Chief Financial Officer, will be attending several investor conferences and meetings in May and June, highlighting the continued business momentum and growth drivers generating increased shareholder valuation.

• May 22^nd and 23^rd - B. Riley Securities 24th Annual Institutional Investor Conference in Beverly Hills, CA will be holding a fireside chat with Mr. Shaw on Thursday, May 23^rd at 1pm PT (4pm ET). One-on-one meetings with management may also be arranged.
• May 30^th - Lytham Partners Spring 2024 Investor Conference. A webcasted presentation will take place at 2:00 p.m. ET on Thursday, May 30. The webcast can be accessed by visiting the conference home page at https://lythampartners.com/spring2024/ or directly at https://wsw.com/webcast/lytham11/linc/2079462. The webcast will also be available for replay following the event. Management will be participating in virtual one-on-one meetings throughout the event. To arrange a meeting with management, please contact Lytham Partners at 1×1@lythampartners.com or register for the event at https://lythampartners.com/spring2024invreg/.
• June 12^th and 13^th – The 14th Annual East Coast IDEAS Conference being held in New York City.
• June 18^th – Lake Street Capital Market hosted non-deal road show in Minneapolis, MN.
• June 20^th and 21^st – Barrington Research Associates hosted non-deal road show in Milwaukee, WI and Chicago, IL, respectively.

Investors should reach out to their sales representatives to schedule meetings with Lincoln’s management team.

“We recently reported a strong start to the year as first quarter student starts increased 15% and revenue grew 20%, giving us the confidence to raise our financial guidance for the 2024 full year,” commented Mr. Shaw.  “Our results and outlook reflect the increased interest from students to seek rewarding careers in the automotive, skilled trades and healthcare sectors and the demand we are experiencing from employers for qualified employees to ensure their businesses can achieve their growth objectives. I believe the Lincoln story is resonating with corporate partners and investors, and our goal at these events is to demonstrate the value we provide to employers and share our vision and the enhanced valuation potential our shares offer through the successful execution of our business plan.”

About Lincoln Educational Services Corporation
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946.
Lincoln currently operates 22 campuses in 13 states under four brands: Lincoln Technical Institute, Lincoln College of Technology, and Euphoria Institute of Beauty Arts and Sciences.  Lincoln also operates Lincoln Culinary Institute in the states of Connecticut and Maryland. For more information, go to www.LincolnTech.edu

FORWARD-LOOKING STATEMENTS
Statements in this press release and in oral statements made from time to time by representatives of Lincoln Educational Services Corporation regarding Lincoln’s business that are not historical facts, including those made in a conference call, may be “forward-looking statements” as that term is defined in the federal securities law. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,” and “continue,” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Generally, these statements relate to business plans or strategies and projections involving anticipated revenues, earnings or other aspects of the Company’s operating results. Such forward-looking statements include the Company’s current belief that it is taking appropriate steps regarding the pandemic and that student growth will continue. The Company cautions you that these statements concern current expectations about the Company’s future performance or events and are subject to a number of uncertainties, risks and other influences many of which are beyond the Company’s control, that may influence the accuracy of the statements and the projects upon which the statements are based including, without limitation, impacts related to the COVID-19 pandemic, our inability to close on the sale of our Nashville campus; our failure to comply with the extensive regulatory framework applicable to our industry or our failure to obtain timely regulatory approvals in connection with acquisitions or a change of control of our Company; our success in updating and expanding the content of existing programs and developing new programs for our students in a cost-effective manner or on a timely basis; risks associated with changes in applicable federal laws and regulations; uncertainties regarding our ability to comply with federal laws and regulations, such as the 90/10 rule and prescribed cohort default rates; risks associated with the opening of new campuses; risks associated with integration of acquired schools; industry competition; our ability to execute our growth strategies; conditions and trends in our industry; the COVID-19 pandemic and its impact on our business and the U.S. and global economics; general economic conditions; and other factors discussed in the “Risk Factors” section of our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission.  All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise after the date hereof.

FAQ

What growth did Lincoln Educational Services report in Q1 2024?

Lincoln Educational Services reported a 20% increase in revenue and a 15% rise in student starts in Q1 2024.

When is Lincoln Educational Services presenting at the B. Riley Securities Conference?

Lincoln Educational Services will hold a fireside chat at the B. Riley Securities 24th Annual Institutional Investor Conference on May 23, 2024, at 1pm PT (4pm ET).

How can investors access Lincoln Educational Services' webcast presentation at the Lytham Partners Spring 2024 Investor Conference?

Investors can access the webcast presentation on May 30, 2024, at 2:00 pm ET by visiting the conference home page or directly at https://wsw.com/webcast/lytham11/linc/2079462.

What sectors are driving the increased demand for Lincoln Educational Services?

The automotive, skilled trades, and healthcare sectors are driving the increased demand for Lincoln Educational Services.

Where will Lincoln Educational Services be presenting in June 2024?

Lincoln Educational Services will present at the East Coast IDEAS Conference in New York City on June 12-13, 2024, and will also participate in non-deal roadshows in Minneapolis, Milwaukee, and Chicago in June 2024.