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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 Corporation (LINC) reported Q3 2021 results with a 13% revenue increase to $89.1 million compared to last year. Operating income rose 49.6% to $5.7 million, and adjusted EBITDA improved to $8.4 million. Despite a slight decline in student starts to 5,430, the total student population grew 6.4% to 14,000. The company completed a $46.5 million sale-leaseback transaction, enhancing its financial position. Full-year guidance was refined, expecting revenue growth of 12% to 14%.
Lincoln Educational Services Corporation announces the opening of the Republic Services Technical Institute in Dallas, TX, marking its first dedicated diesel training facility. This initiative addresses a projected 280,000 technician shortage by 2030, as highlighted by the USDOL. The 12-week program offers in-demand skills and job opportunities at Republic Services’ locations nationwide. Operational since September, the facility is part of a collaboration aimed at bridging the skills gap in the diesel industry, with Texas expected to see a 14% job growth in this sector.
Lincoln Educational Services Corporation (NASDAQ: LINC) has finalized the sale and lease-back of its properties in Denver, CO, and Grand Prairie, TX, for a total of $46.5 million. The company will enter into a 20-year triple-net lease for both properties, with renewal options. Lincoln expects to record a gain of approximately $22 million in Q4 2021 from this transaction. Proceeds will be used to pay off a $16.8 million term loan and cover closing costs, yielding $28.5 million for growth and facility upgrades, while all training programs will continue uninterrupted.
Lincoln Educational Services Corporation has partnered with Dave Kindig to establish the Kindig Academy at its Denver campus, set to launch in early 2022. This collaboration aims to address the high demand for skilled professionals in the custom vehicle design industry, offering students a unique certification in advanced techniques like specialty welding, custom fabrication, and painting. The program includes 240 instructional hours in 14 specialized topics, with an emphasis on foundational skills. The initiative responds to the projected need for over 130,000 new professionals in collision repair by 2028.
Lincoln Educational Services Corporation (Nasdaq: LINC) will host a conference call on November 8, 2021, at 10:00 a.m. Eastern time to discuss its third-quarter financial results. A news release with detailed financial results will be available before 9:30 a.m. on the same day. Investors can access the call via the investor relations section of Lincoln's website or dial in directly. An archived version of the call will be available for 90 days.
Lincoln Educational Services has launched the Mazda Automotive Student Training (MAST) program at its Union, NJ campus to address the rising demand for automotive technicians. This initiative, marked by a celebration on October 5, offers students added career skills specific to Mazda technologies. Benefits include career placement, mentorships with Mazda experts, tool discounts, and up to $15,000 in tuition reimbursement. According to the U.S. Department of Labor, over 55,000 automotive technician openings are projected in New Jersey and New York by 2028.
Lincoln Educational Services Corporation has announced a strategic sale-leaseback for its campuses in Denver, CO and Grand Prairie, TX, alongside plans to sell and relocate its Nashville, TN campus. These transactions are expected to generate $81 million, enhancing the company’s financial stability. The Denver and Grand Prairie properties will be sold for $46.5 million, while the Nashville campus is set for $34.5 million. Proceeds will be invested in a new Nashville facility and growth initiatives, with anticipated savings from debt repayment and operational efficiencies.
Lincoln Educational Services Corporation (NASDAQ: LINC) celebrates 75 years of specialized training. Ken Young, an Automotive Technology instructor, will receive the Commitment to Education Award from the Accreditation Commission of Career Schools and Colleges (ACCSC) at the upcoming Professional Development Conference. Young has taught at Lincoln Tech's Melrose Park campus for over 26 years, positively impacting hundreds of students. The award recognizes instructors who significantly contribute to their school’s mission and community.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced the awarding of $5,000 scholarships to two Melrose Park campus students, Derek Deddo and Erick Poole, as part of Pep Boys' 100th anniversary celebration. This initiative, which includes $100,000 in total scholarships, aims to address the technician shortage in the automotive industry. Deddo highlighted the scholarship's significance, allowing him to pursue an Associate Degree in Automotive Service Management while gaining work experience and ASE certification opportunities through Pep Boys.
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