Lincoln Educational Services Projects Student Start Growth of Approximately 15% During First Quarter 2024
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The projected 15% student start growth at Lincoln Educational Services Corporation is a strong indicator of the company's potential to capitalize on the increasing demand for skilled trade careers. This growth rate is more than double the previous year's rate, suggesting a robust expansion in their educational services. The emphasis on skilled trades aligns with broader economic trends, where technical and vocational skills are in high demand due to a skills gap in the labor market.
Investors should consider the implications of this growth on the company's revenue and profitability, as higher enrollment typically leads to increased tuition income. However, it's essential to monitor the costs associated with the expansion, such as the new East Point campus, to assess the net impact on the company's financial health. The company's ability to meet financial guidance objectives in 2023 may instill confidence in its strategic direction and operational efficiency.
The emphasis on student retention, graduation and placement rates is a critical factor for educational institutions like Lincoln Educational Services. These metrics not only reflect the quality of education and student satisfaction but also influence the institution's reputation among potential students and employers. High placement rates, in particular, can serve as a competitive advantage, attracting more students and potentially allowing the institution to command higher tuition fees.
Long-term, the company's success hinges on its ability to maintain these positive trends in student outcomes. As the labor market evolves, the institution must continuously adapt its curriculum to meet changing industry needs, ensuring that graduates remain employable and in demand. This adaptability is important for sustaining growth and justifying any premium pricing strategy that may be in place.
Lincoln Educational Services' reiteration of its full-year 2024 outlook ahead of the Investor Day suggests confidence in its financial projections and strategic plans. This forward-looking statement is of particular interest to investors as it provides a glimpse into the company's expectations for performance and growth. However, it is essential to approach such projections with caution until the actual financial results are disclosed.
Investors should also note the timing of the financial results release on May 6, 2024. This date will be a critical moment for evaluating the accuracy of the company's projections and the effectiveness of its growth strategies. Until then, the market will likely respond to the qualitative aspects of the Investor Day presentations, which could influence stock performance based on the perceived strength of the company's strategic initiatives.
Reiterates Full year 2024 Outlook
Company Hosting Investor Day Today Beginning at Noon ET
PARSIPPANY, N.J., March 19, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC), which is hosting its first Investor Day today at its new East Point campus in Georgia, expects to continue its strong business momentum during the first quarter ending March 31, 2024. Student start growth is projected to significantly improve from the prior year, with growth of approximately
“Our team continues to successfully execute the Company’s transformative growth strategies as the interest in skilled trade careers continues to grow,” said Scott Shaw, President and CEO. “Our expected strong start growth in Q1 builds on the momentum we generated during 2023, which led to increased student starts, student retention, graduation and placement rates with employers as well as the achievement of all of our financial guidance objectives during the year. During today’s Investor Day we look forward to reviewing our strategies for 2024 and beyond while showcasing our new East Point campus.”
The Company’s Investor Day presentations start at 12:00 p.m. ET. The live webcast of the presentations along with a question-and-answer session with the Company’s executive leaders and guests will focus on Lincoln’s strategic priorities and growth initiatives. To access the live webcast of the Investor Day call, please go to the investor relations section of Lincoln’s website at lincolntech.edu. Participants may also register at: Lincoln Educational Services Investor Day .
An archived version of the webcast and presentation will be accessible for 90 days at lincolntech.edu.
The Company plans to report financial results for the three months ending March 31, 2024 on May 6, 2024.
ABOUT LINCOLN EDUCATIONAL SERVICES CORPORATION
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education helping to provide solutions to America’s skills gap. Lincoln offers career-oriented programs to recent high school graduates and working adults in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946 and currently operates 22 campuses in 13 states under 4 brands: Lincoln College of Technology, Lincoln Technical Institute, Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts and Sciences. For more information, please go to www.lincolntech.edu.
FORWARD-LOOKING STATEMENTS
Statements in this press release and in oral statements made from time to time by representatives of Lincoln Educational Services Corporation regarding Lincoln’s business that are not historical facts, including those made in a conference call, may be “forward-looking statements” as that term is defined in the federal securities law. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,” and “continue,” and their opposites and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Generally, these statements relate to business plans or strategies and projections involving anticipated revenues, earnings, or other aspects of the Company’s operating results. Such forward-looking statements include the Company’s current belief that it is taking appropriate steps regarding the pandemic and that student growth will continue. The Company cautions you that these statements concern current expectations about the Company’s future performance or events and are subject to a number of uncertainties, risks, and other influences, many of which are beyond the Company’s control, that may influence the accuracy of the statements and the projects upon which the statements are based including, without limitation, impacts related to the COVID-19 pandemic or other epidemics or pandemics; our failure to comply with the extensive regulatory framework applicable to our industry or our failure to obtain timely regulatory approvals in connection with acquisitions or a change of control of our Company; our success in updating and expanding the content of existing programs and developing new programs for our students in a cost-effective manner or on a timely basis; risks associated with changes in applicable federal laws and regulations; uncertainties regarding our ability to comply with federal laws and regulations, such as the 90/10 rule and prescribed cohort default rates; risks associated with the opening of new campuses; risks associated with integration of acquired schools; industry competition; our ability to execute our growth strategies; conditions and trends in our industry; general economic conditions; and other factors discussed in the “Risk Factors” section of our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise after the date hereof.
Contact:
Lincoln Educational Services Corporation
Brian Meyers, CFO
973-736-9340
bmeyers@lincolntech.edu
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