Lincoln Educational Services ( (LINC) ) has released its Q4 earnings. Here is a breakdown of the information Lincoln Educational Services presented to its investors.
Lincoln Educational Services Corporation is a prominent provider of career-oriented post-secondary education, offering programs in automotive technology, health sciences, skilled trades, business and information technology, and hospitality services across 21 campuses in 12 states. The company aims to address America’s skills gap by equipping students with practical skills needed in the workforce.
Lincoln Educational Services reported robust financial results for the fourth quarter and full year of 2024, with a notable 16.4% increase in revenue reaching $119.4 million for the quarter. The company also saw a 9.6% growth in student starts and a 14.1% rise in the student population by the end of the quarter. Net income for the quarter was $6.8 million, with an adjusted EBITDA of $19.2 million, showcasing the company’s strong financial health.
Key financial highlights for the full year 2024 include a revenue increase to $440.1 million, a 15.2% growth in student starts, and an adjusted EBITDA of $42.3 million. The company maintained a strong liquidity position with nearly $100 million and no outstanding debt. Strategic developments included the opening of a new campus in Hicksville, New York, and the sale of the Summerlin, Las Vegas campus.
Looking ahead, Lincoln Educational Services is optimistic about continued growth in 2025, with plans to open new campuses and replicate high-demand programs. The company projects revenue between $480 million and $490 million and adjusted EBITDA between $55 million and $60 million for the year. Lincoln is poised to capitalize on the growing demand for career-oriented education and aims to achieve significant financial milestones by 2027.