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 Corporation (NASDAQ: LINC) announced the mandatory conversion of its Series A Convertible Preferred Stock, resulting in the cancellation of 12,700 shares and the issuance of 5,381,360 shares of Common Stock. This conversion eliminates $1.2 million in annual dividends and simplifies the company’s capital structure, providing more resources for strategic initiatives. The correction in the press release addressed a decimal point in the conversion ratio, but the number of converted shares remains unchanged.
Lincoln Educational Services Corporation (NASDAQ: LINC) has fully converted its Series A Convertible Preferred Stock, cancelling 12,700 shares in exchange for 5,381,360 shares of common stock. This action eliminates $1.2 million in annual dividend payments, simplifying the company’s capital structure and providing additional resources for strategic initiatives. CEO Scott Shaw expressed satisfaction over this development, which marks a significant change in the company's financial obligations.
Lincoln Educational Services Corporation (NASDAQ: LINC) has launched Heavy Equipment Operation training programs at its Nashville, TN, and South Plainfield, NJ campuses to address the growing demand for skilled operators. The program can be completed in as little as eight weeks and includes both theoretical and practical components, utilizing CAT Simulators for hands-on experience. With over 450,000 projected openings for Heavy Equipment Operators nationwide by 2031, this initiative aims to enhance workforce readiness and support the construction industry.
Lincoln Educational Services Corporation (NASDAQ: LINC) is launching a new Medical Assistant training program at its East Windsor, CT campus on November 30, addressing the significant demand for qualified candidates in the healthcare sector. With over 12,000 job openings expected in Connecticut by 2030 and 80,000 across New England and New York, this program aims to prepare students through a hybrid learning model. The campus has invested over $200,000 to set up specialized training facilities, helping meet employer needs in a rapidly growing field.
Lincoln Educational Services Corporation (LINC) reported a revenue of $91.8 million for Q3 2022, a 3.1% increase year-over-year. Net income stood at $3.5 million with earnings per share at $0.10. The rise in revenue was driven by a 5.9% increase in average revenue per student, despite a 2.7% decline in average student population. The company repurchased 668,440 shares for $4.2 million, maintaining a cash balance of $69.6 million and no debt. Looking ahead, LINC expects student starts to increase in Q4 2022.
Lincoln Educational Services Corporation (Nasdaq: LINC) will host a conference call on November 7, 2022, at 10:00 a.m. Eastern time to discuss its third quarter financial results. The release detailing the results will be available before 9:30 a.m. Eastern time on the same day. Investors can access the live webcast via Lincoln's investor relations page or register for the teleconference. An archived version of the webcast will be available for 90 days. Lincoln offers career-oriented education across various fields, currently operating 22 campuses in 14 states.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced that student Avery Hill has been awarded a $5,000 Work Ethic Scholarship from the Mike Rowe Works Foundation. Enrolled in the Heating, Ventilation and Air Conditioning (HVAC) program at Lincoln's East Windsor, CT campus, Hill's scholarship highlights the importance of career-focused education in in-demand trades. Hill, motivated by the HVAC industry's job stability, plans to graduate in September 2023 and return to his hometown to pursue a specialized career in air conditioning and refrigeration.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced that Angela Reppert received the ACCSC Commitment to Education Award for 2022. Serving as the President of the Allentown, PA campus since 2019, Reppert has been with the organization for nearly 30 years. Her leadership has emphasized student success and community service, contributing to a strong graduate employment rate. The Allentown campus, providing training in various fields like Medical Assisting and Computer Networking, has a history of serving the community since 1949, helping students to secure jobs in their respective fields.
Lincoln Educational Services Corporation (NASDAQ: LINC) has entered into a significant partnership with Tesla to create a Tesla training facility at its Denver campus. This initiative will provide students with industry-leading electric vehicle (EV) training at no cost, targeting future service technicians for Tesla. The 16-week program includes stipends and access to equipment and vehicles from Tesla. Graduates may have opportunities to work at Tesla service centers, addressing the projected need for over 690,000 skilled auto technicians in the U.S. by 2030.
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