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) will hold a conference call on August 8, 2022, at 10:00 a.m. Eastern Time to discuss its second quarter financial results. A news release with these results will be available before 9:30 a.m. on the same day. Interested participants can access the live webcast via Lincoln's investor relations page or register for the teleconference to receive a personalized dial-in number. The archived webcast will be available for 90 days after the event.
Lincoln Educational Services Corporation (NASDAQ: LINC) has announced plans for a new 55,000 square foot campus in the Atlanta area, aimed at addressing the country's skills gap. The campus, expected to enroll around 700 students, will focus on training in Auto Technology, HVAC, and other skilled trades. Projected to generate $20 million in revenue and $5 million in EBITDA within four years, this campus marks the first of five planned under a strategic growth initiative. The anticipated opening is set for Q3 2023, depending on regulatory approvals.
Lincoln Educational Services Corporation (NASDAQ: LINC) is launching a new series of weekend training courses at the Kindig Academy in Denver, starting July 23rd. These courses are designed for individuals with no prior experience, focusing on skills vital for the automotive customization industry. With a projected 150,000 job openings by 2030, these courses will aid students and hobbyists alike in exploring career opportunities. Each course offers 20 hours of hands-on instruction and culminates in a certificate of completion.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced its partnership with AkzoNobel Coatings to enhance its Collision Repair and Refinishing programs across its campuses in the U.S. This collaboration allows students to utilize AkzoNobel's premium Sikkens and Lesonal paint products, ensuring high-quality training. The partnership follows the launch of the Kindig Academy in Denver, CO, and aims to prepare students for a workforce with over 150,000 projected openings in collision repair by 2030.
Lincoln Educational Services Corporation (NASDAQ: LINC) has launched a podcast series, "Skills @ Work," to highlight career opportunities in essential hands-on industries. With job openings expected to exceed 1.1 million by 2032, this initiative aims to address the skills gap impacting various sectors, including manufacturing and IT. The first episodes cover computerized manufacturing and computer networking, with future topics including diesel technology. The podcasts, available on major platforms, feature insights from industry experts and graduates, encouraging skill development and job-seeking.
Lincoln Educational Services Corporation (Nasdaq: LINC) has authorized a share repurchase program of up to $30 million for its common stock, effective for twelve months. Management plans to execute the buyback through various methods, prioritizing acquisitions at prevailing market prices. This initiative reflects the Board's confidence in the company's growth strategy and aims to enhance shareholder value. The company will use cash reserves and operational funds for the repurchase, with shares canceled post-purchase to boost corporate flexibility.
Lincoln Educational Services Corporation (Nasdaq: LINC) announced that CEO Scott Shaw will participate in a fireside chat at the B. Riley Institutional Investor Conference on May 26, 2022, at 9:30am PDT. The discussion will cover the company's recent operational performance, including first-quarter results. Shaw emphasized the company's 75 years of success and a strong balance sheet as key advantages. The conference aims to connect institutional investors with company executives to explore investment opportunities.
Lincoln Educational Services Corporation (NASDAQ: LINC) has partnered with AAA Northeast to offer complimentary auto safety check-ups at its Union, NJ campus, enhancing the driving experience ahead of the busy summer travel season. The event, scheduled for May 14, 2022, will allow students in Lincoln's Automotive Technology program to engage with the community while promoting vehicle safety. The partnership aims to address the increase in roadway fatalities and provide valuable insights on maintaining vehicle efficiency amidst rising gas prices.
Lincoln Educational Services Corporation (LINC) reported a revenue increase of 5.8% to $82.6 million in Q1 2022, compared to the prior year. Adjusted EBITDA fell to $2.4 million from $5.4 million. The average student population rose by 4.4%, but new student starts decreased slightly. Management reiterated its full-year guidance, expecting low double-digit start growth in Q2 2022. Significant challenges include wage inflation and a tight labor market. Strategies for growth include campus expansions and leveraging cash reserves of over $65 million.
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