LINC
Lincoln Educational Services Corporation23.21
+0.37+1.62%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
High school push detailed in Q&A
Q&A largely reaffirmed prepared remarks on strong organic growth and new campuses driving 2026 guidance, but highlighted stepped-up high school investments amid warming attitudes—already 20% of students, with ramps eyed for 2027-2028 via new teams and share programs now at 150 students. Healthcare poised to grow post-Paramus nursing resumption from 40 students toward prior 250 levels and culinary exit; all programs passed gainful employment thresholds. East Point expansion opens late 2026; similar retools at Houston, Levittown, Grand Prairie favor electrical over collision. Graduation fell to 67.5%; placements hit 82.8%. Margins to grow 150-250bps yearly near 60% capacity. Watch high school momentum.
Key Stats
Market Cap
733.99MP/E (TTM)
51.58Basic EPS (TTM)
0.45Dividend Yield
0%Recent Filings
8-K
10-K
FY2025 results
Lincoln Educational Services posted FY2025 results ended December 31, 2025, but key financial figures remain undisclosed in the 10-K filing. No revenue, profitability, or quarterly breakdowns appear in the provided document, leaving Q4 momentum unclear. Quarterly trends, segment performance, and EPS details not disclosed in the 10-K. Liquidity and capital allocation actions omitted. No annual guidance provided for 2026. Enrollment volatility poses a key risk to future momentum.
8-K
Crushed 2025 guidance, 2026 growth
Lincoln Educational Services crushed FY2025 guidance with revenue up 17.8% to $518.2M, net income doubling to $20.0M, and adjusted EBITDA surging 58.7% to $67.1M, fueled by 15.2% student start growth excluding Transitional segment. Q4 shone brighter: $142.9M revenue, 19.7% higher. Growth accelerates. 2026 guides revenue to $580-590M, adjusted EBITDA $72-76M amid new campuses, yet regulatory risks loom.
8-K
Execs ink extensions to 2028
Lincoln Educational signed new employment agreements on December 19, 2025, with CEO Scott Shaw ($669,500 base), CFO Brian Meyers ($453,200), COO Chad Nyce ($453,200), General Counsel Alexandra Luster ($317,474), and CHRO Stephen Ace ($309,000), all effective January 1, 2026, extending terms to December 31, 2028. Prior deals expired end-2025; these retain substantially similar terms including performance bonuses and severance. Leadership locked in.
8-K
Q3 revenue surges 23.6%
Lincoln Educational reported Q3 revenue up 23.6% to $141.4M, driven by 17.2% higher student population and 6.0% start growth excluding Transitional segment; adjusted EBITDA hit $16.9M, up 65.1%. Growth fueled campus expansions like new Houston site and Rowlett lease for 2027, plus relocations. Raised FY2025 guidance to $505-510M revenue, 15-16% starts. Cash dipped to $13.5M amid $68M capex.
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