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 (LINC) announced its participation in the Midwest IDEAS Conference in Chicago on August 28-29, 2024. President and CEO Scott Shaw will present on August 28th at 1:20pm CT, highlighting the company's strong business momentum and growth drivers. Key points include:
- Q2 2024 performance: 16.1% revenue growth, 12.3% increase in student starts, and doubled adjusted EBITDA compared to Q2 2023
- Transformation into an exceptional provider of education services meeting corporate and workforce needs
- Positioned to build on success and solid first-half performance
- Attracting new investors looking to capitalize on the U.S. skills gap
The presentation will be webcast through the company's investor relations website.
Lincoln Educational Services (Nasdaq: LINC) reported strong Q2 2024 results, with revenue growing 16.1% to $102.9 million and student starts increasing 12.3%. The company's quarter-end student population rose by 11.4%. Despite a net loss of $700,000, Adjusted EBITDA reached $6.2 million. Lincoln's new East Point, Georgia campus exceeded full-year student start expectations. The company maintains a strong financial position with over $100 million in total liquidity and no debt. Based on these results, Lincoln has raised its full-year revenue outlook and increased the lower end of its adjusted EBITDA, adjusted net income, and student starts guidance. The company is focusing on efficiency improvements, expanding its campus network, and developing corporate partnerships to capitalize on workforce development opportunities.
Lincoln Educational Services (Nasdaq: LINC) has announced its upcoming second quarter earnings release and conference call, scheduled for August 8, 2024. The company will issue a news release outlining its financial results before 9:30 a.m. Eastern time, followed by a conference call at 10:00 a.m. Eastern time. Investors can access the live webcast through Lincoln's investor relations website or register for the teleconference.
Lincoln Educational Services is a leading provider of career-oriented post-secondary education, offering programs in automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. The company operates 22 campuses across 13 states under four brands: Lincoln College of Technology, Lincoln Technical Institute, Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts and Sciences.
Lincoln Educational Services (NASDAQ: LINC) has added Marta Ronquillo Newhart and Anna Escobedo Cabral to its Board of Directors as of July 1, 2024. Both appointees bring extensive leadership experience and a strong commitment to education and the Latino community, which constitutes the largest segment of Lincoln Tech's student population.
Marta Ronquillo Newhart is currently the Chief Marketing, Communications & Brand Officer at APCO Worldwide and has previously held significant roles at Westinghouse and other major companies. She will also serve on the Board's Nominating and Corporate Governance Committee.
Anna Escobedo Cabral, a former Treasurer of the United States, brings a wealth of public service experience and currently serves on the board of Navient She will join the Board's Audit Committee.
Lincoln's leadership is optimistic that the new appointees will enhance the company's strategic direction and support its mission to be the leading career training organization in the country.
Lincoln Tech's Nashville Auto-Diesel College (NADC) has donated diesel engines to several local high schools and colleges. This initiative aims to support future skilled technicians and address the projected 240,000 job openings for diesel and truck technicians by 2032. The donated engines, each valued at $20,000, will help schools like Hickman County High School, East Hickman County High School, and Tennessee College of Applied Technology (TCAT) enhance their diesel technology programs. Brent Jenkins, President of NADC, and other educational leaders emphasized the importance of such donations in providing students with hands-on experience and exposure to the latest technology in the field.
Lincoln Tech has entered into a five-year workforce development partnership with Container Maintenance (CMC), a subsidiary of Marino Group, to train approximately 800 CMC technicians by 2029. Training will occur at CMC's main branch in Charleston, SC, starting in June 2024. The program aims to enhance skills in key areas such as Electrical, Tires, Axles, Frames, Suspensions, Brakes, and Welding/Fabrication. CMC will provide the training equipment, and the curriculum will follow IANA recommendations. This partnership marks a significant expansion in Lincoln Tech's technical training footprint, potentially opening career opportunities for its graduates within CMC and the broader Marino Group.
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.
Lincoln Educational Services (NASDAQ: LINC) has expanded its partnership with Peterbilt Motors Company to offer specialized diesel technician training at its Denver, CO campus. The program aims to equip Lincoln graduates with skills for Peterbilt-specific equipment and technologies, enhancing their career opportunities. Peterbilt dealerships will cover the cost of the 12-week training program, providing hands-on experience with real Peterbilt trucks. Upon completion, students earn nine factory-trained technician credentials, facilitating career advancement in more than 420 Peterbilt dealerships nationwide.
Lincoln Educational Services (LINC) extends its share repurchase program until May 24, 2025, with $29.7 million still available for repurchases. The program, initially at $30 million, was increased to $40 million, resulting in about 1.7 million shares repurchased at an average price of $5.95. The company will fund repurchases using cash on hand and operational funds, aiming to optimize balance sheet and deliver value to shareholders.
Lincoln Educational Services reported strong growth in the first quarter of 2024, with a 15% increase in student starts and a 20% growth in revenue. Financial highlights include a revenue increase to $103.4 million, tripled Adjusted EBITDA to $6.5 million, and a 11.2% rise in student population. The company also entered into new agreements and a credit facility, with total liquidity over $109 million. Lincoln raised its full-year guidance for revenue, Adjusted EBITDA, and Adjusted Net Income. The company's President & CEO commented on the positive momentum and the benefits of the innovative educational approach adopted by Lincoln, which is meeting the demand for skilled professionals in the market. The company is seeing increased interest from both students and employers and positioning itself for future growth.
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