Lincoln Educational Services ( (LINC) ) has released its Q3 earnings. Here is a breakdown of the information Lincoln Educational Services presented to its investors.
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Lincoln Educational Services Corporation, a leader in career-oriented education, offers specialized programs in automotive technology, health sciences, skilled trades, business, information technology, and hospitality services across 22 campuses in 13 states.
In its latest earnings report, Lincoln Educational Services announced a double-digit growth in revenue and student starts for the third quarter of 2024, driven by strong interest in non-traditional education and successful campus expansion efforts.
Key financial highlights include a 15% increase in revenue to $114.4 million, a 21.1% rise in student starts, and a net income of $4 million. The company’s liquidity remains robust with over $90 million and no debt, while the new East Point, Georgia campus exceeded financial expectations. The introduction of the Lincoln 10.0 hybrid teaching platform is set to enhance educational delivery and efficiency.
Lincoln has raised its financial outlook for 2024, anticipating higher revenue, adjusted EBITDA, and student starts. The company also continues to expand its corporate partnerships and new campus developments, aligning with its long-term revenue and growth objectives.
Looking ahead, Lincoln Educational Services is positioned to meet its strategic goals, aiming for significant revenue and EBITDA growth by 2027, as it continues to adapt to the evolving educational landscape and workforce demands.
