Earnings summaries and quarterly performance for LINCOLN EDUCATIONAL SERVICES.
Executive leadership at LINCOLN EDUCATIONAL SERVICES.
Scott M. Shaw
Detailed
President & Chief Executive Officer
CEO
Alexandra M. Luster
Detailed
Senior Vice President, General Counsel & Secretary
Brian K. Meyers
Detailed
Executive Vice President, Chief Financial Officer and Treasurer
Chad D. Nyce
Detailed
Executive Vice President, Chief Operating Officer
David Shaw
Detailed
Senior Vice President of Finance
Francis Giglio
Detailed
Senior Vice President of Compliance and Regulatory
Gina Zaffino
Detailed
Senior Vice President of Education
James Rasmussen
Detailed
Senior Vice President of Admissions
Stephen Ace
Detailed
Senior Vice President of Human Resources
Val Thomas
Detailed
Senior Vice President & Chief Information Officer
Board of directors at LINCOLN EDUCATIONAL SERVICES.
Anna Cabral
Detailed
Director
Carlton E. Rose
Detailed
Director
Felecia J. Pryor
Detailed
Director
James J. Burke, Jr.
Detailed
Director
John A. Bartholdson
Detailed
Non-Executive Chair of the Board
Kevin M. Carney
Detailed
Director
Marta Newhart
Detailed
Director
Michael A. Plater
Detailed
Director
Sylvia J. Young
Detailed
Director
Research analysts who have asked questions during LINCOLN EDUCATIONAL SERVICES earnings calls.
Eric Martinuzzi
Lake Street Capital Markets
4 questions for LINC
Also covers: APEI, ASPU, ASUR +24 more
Alexander Paris
Barrington Research Associates, Inc.
3 questions for LINC
Also covers: APEI, ATGE, CSV +10 more
Steven Frankel
Rosenblatt Securities
3 questions for LINC
Also covers: DLB, HLIT, IMAX +4 more
Griffin Boss
B. Riley Securities
2 questions for LINC
Also covers: APEI, ASTS, CMTL +7 more
Raj Sharma
Texas Capital Bank
2 questions for LINC
Also covers: APEI, ASPU, CXW +4 more
Alex Paris
Barrington Research Associates
1 question for LINC
Also covers: LRN, ZSPC
Lars Munson
Tibor Capital Management, LLC
1 question for LINC
Lucas John Horton
Northland Capital Markets
1 question for LINC
Also covers: CDLX, MITK, OPFI +2 more
Luke Horton
Northland Capital Markets
1 question for LINC
Also covers: APEI, CDLX, SEMR +2 more
Rajiv Sharma
B. Riley Securities
1 question for LINC
Also covers: APEI, ASPS, ASPU +6 more
Recent press releases and 8-K filings for LINC.
Lincoln Tech Reports Strong Q3, Raises Guidance, and Outlines Expansion Plans
LINC
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Lincoln Tech (LINC) reported a strong third quarter with revenues up 25% and starts growing by 6%, leading to raised full-year guidance of approximately $500 million in revenue and $66 million in EBITDA.
- The company expects to have zero debt by the end of the year and projects significant growth by 2027, targeting over $600 million in revenue and over $90 million in Adjusted EBITDA.
- LINC is actively expanding its operations, having opened a new campus in Houston in Q3, and plans to open two new campuses annually for the next five years, with new locations announced for Rowlett, Texas (Q1 2027) and Long Island, New York.
- The business model is highly profitable, with about 30% of additional growth revenue dropping to the bottom line, and EBITDA margins are anticipated to increase by approximately 150 basis points annually over the next 3-4 years to reach the high teens.
Nov 20, 2025, 9:20 PM
Lincoln Tech Reports Strong Q3 Performance and Raises Guidance
LINC
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Lincoln Tech reported strong Q3 performance with revenues up 25% and starts up 6%, leading to raised guidance for the current year, projecting approximately $500 million in revenue and $66 million in EBITDA.
- The company anticipates continued growth, with 2027 guidance set at over $600 million in revenue and over $90 million in adjusted EBITDA, driven by organic growth and a strategy to open approximately two new campuses per year for the next five years.
- Financially, Lincoln Tech expects to have zero debt by the end of the year, reported $65 million in liquidity, and projects increasing EBITDA margins by about 150 basis points annually over the next 3-4 years to reach the high teens.
Nov 20, 2025, 9:20 PM
Lincoln Tech Reports Strong Q3 Results and Outlines Growth and Expansion Plans
LINC
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Lincoln Tech (LINC) reported a 25% increase in revenues and 6% growth in starts for Q3, leading to raised full-year guidance of approximately $500 million in revenue and $66 million in EBITDA.
- The company anticipates continued growth, with 2027 guidance set at over $600 million in revenue and over $90 million in adjusted EBITDA.
- LINC is actively expanding, with a new campus opened in Houston in Q3 and plans to open two new campuses annually, including locations in Rowlett, Texas, and Hicksville, Long Island.
- The company expects to have zero debt by year-end from $5 million in Q3 and projects significant free cash flow generation by 2027.
- Lincoln Tech, a leader in trades education, reports a 67% graduation rate and over 80% job placement rate, addressing a substantial skills gap in the market.
Nov 20, 2025, 9:20 PM
Lincoln Educational Services Reports Strong Q3 2025 Results and Raises Full-Year Guidance
LINC
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Lincoln Educational Services reported a 23.6% increase in revenue to $141.4 million for the third quarter ended September 30, 2025, compared to the prior year.
- Adjusted EBITDA for Q3 2025 increased by 65.1% to $16.9 million.
- The company's student population grew by 14.8% and student starts increased by 3.2% in Q3 2025.
- Lincoln Educational Services raised its full-year 2025 financial guidance, with updated revenue projected between $505 million and $510 million and adjusted EBITDA between $65 million and $67 million.
- The company also announced a new campus in Rowlett, Texas, expected to open in early 2027, and set 2027 objectives of over $600 million in revenue and $90 million in adjusted EBITDA.
Nov 10, 2025, 8:10 PM
Lincoln Educational Services Details Expansion Plans and Financial Projections
LINC
New Projects/Investments
Guidance Update
- Lincoln Educational Services (LINC) is actively expanding, planning to open one to two new campuses annually, with recent openings in Atlanta (March 2024) and Houston (late September 2025). Each new facility, costing $20 million to $25 million, is projected to generate $7 million to $9 million of EBITDA.
- The company anticipates achieving cash flow neutrality in 2026 and becoming cash flow positive in 2027, with an expectation to have zero debt outstanding by year-end 2025, down from $13 million at the end of Q2 2025.
- LINC reports strong student outcomes, including a 70% graduation rate and an 80% to 82% job placement rate in the field of study, significantly outperforming traditional colleges and community colleges.
- The company is experiencing double-digit growth driven by high demand for skilled trades and a shift away from traditional four-year college education, and plans to launch an RN program to complement its existing Licensed Practical Nurse (LPN) offerings.
Sep 30, 2025, 1:30 PM
Lincoln Educational Services Provides Business Update at Midwest Ideas Conference
LINC
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Lincoln Educational Services (LINC) expects to be debt-free by year-end and has a $60 million credit facility with a $20 million accordion feature for liquidity.
- The company reported strong second-quarter performance with revenue up 15% and starts up 22%, leading to an increase in their guidance. They forecast about 13% growth in starts for the full year.
- LINC is expanding its footprint by opening new campuses, including a new facility in Nashville in March, a new Philadelphia facility in August, and a Houston campus opening next month. They also signed a lease for a new campus in Hicksville, Long Island, set to open in 2026.
- The company emphasizes a significant skills gap in the trades, noting strong demand for skilled workers in sectors like manufacturing, healthcare, transportation, and construction, where they currently hold less than 2% market share.
Aug 28, 2025, 9:38 PM
Lincoln Educational Services outlines growth strategy and guidance update at East Coast IDEAS Conference
LINC
Guidance Update
New Projects/Investments
- Q1 2025 enrollment starts rose 20%, revenue increased by $16 million, and EBITDA margin expanded by 280 bps.
- Management projects ~11% annual top-line growth and 200 bps EBITDA margin expansion through 2027, targeting $550 million revenue and $90 million EBITDA by 2027.
- FY2025 CapEx is intensive, including $12 million maintenance (~2% of revenue), four new campuses (e.g., Houston Nov 2025, Long Island Fall 2026) at $20–25 million each, and seven program replications.
- Remains debt-free (excluding leases) with a $60 million undrawn credit facility to fund expansion.
Jun 11, 2025, 7:26 PM
Lincoln Educational Services Corp Annual Meeting Highlights Voting and Strategy Update
LINC
Proxy Vote Outcomes
Guidance Update
New Projects/Investments
- Virtual annual meeting where shareholders voted on three key proposals: director slate election, advisory say-on-pay, and auditor ratification, all receiving strong support.
- Preliminary voting results showed 82.8% approval for directors, 94.5% for say-on-pay, and 98.8% for ratifying Deloitte & Touche LLP as the independent auditor.
- Management presented a strategic update outlining significant 2024 performance achievements and ambitious growth and expansion plans towards 2027.
May 8, 2025, 1:01 PM
Lincoln Educational Services Expands Credit Facility
LINC
Debt Issuance
- Increased borrowing capacity: The company raised its secured credit facility from $40 million to $60 million and extended its maturity to March 7, 2028 to support growth initiatives.
- Enhanced flexibility: The accordion feature of the agreement was expanded from $20 million to $25 million, further strengthening the firm's capacity to pursue new opportunities.
Mar 11, 2025, 12:00 AM
Lincoln Educational Services Q4 & Full Year 2024 Results and 2025 Outlook
LINC
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Q4 Financial Highlights: Revenue increased by 16.4% to $119.4M, net income reached $6.8M, and adjusted EBITDA was $19.2M with a 16.1% EBITDA margin .
- Full Year Growth: Total revenue hit $440.1M with student starts growing by 15.2%, including 3,497 Q4 starts and 18,660 full-year starts, alongside a 13.7% increase in the student population .
- Operational Excellence: Q4 operations generated approximately $30M in cash flow, concluding the quarter with nearly $60M in cash and no debt, while capital expenditures were 70% focused on growth initiatives .
- Strategic Developments: The company maintained nearly $100M in liquidity, secured a new campus lease in Hicksville, NY, completed the sale of the Summerlin, Las Vegas campus, and benefited from the Lincoln 10.0 model .
- 2025 Guidance: Forecasts project revenue of $480–490M and adjusted EBITDA of $55–60M, signaling continued strategic expansion .
Feb 24, 2025, 12:00 AM
Quarterly earnings call transcripts for LINCOLN EDUCATIONAL SERVICES.
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