Lincoln Educational Services to Provide Business Overview and Highlight Growth Strategy at Midwest IDEAS Conference
Rhea-AI Summary
Lincoln Educational Services (LINC) announced its participation in the Midwest IDEAS Conference in Chicago on August 28-29, 2024. President and CEO Scott Shaw will present on August 28th at 1:20pm CT, highlighting the company's strong business momentum and growth drivers. Key points include:
- Q2 2024 performance: 16.1% revenue growth, 12.3% increase in student starts, and doubled adjusted EBITDA compared to Q2 2023
- Transformation into an exceptional provider of education services meeting corporate and workforce needs
- Positioned to build on success and solid first-half performance
- Attracting new investors looking to capitalize on the U.S. skills gap
The presentation will be webcast through the company's investor relations website.
Positive
- Q2 2024 revenue grew 16.1% year-over-year
- Student starts increased by 12.3% in Q2 2024
- Adjusted EBITDA more than doubled compared to Q2 2023
- Solid first-half performance in 2024
Negative
- None.
News Market Reaction
On the day this news was published, LINC declined 1.58%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Presentation Scheduled for 1:20pm CT on August 28, 2024
PARSIPPANY, N.J., Aug. 23, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) (the “Company”), a national leader in specialized technical training for more than 75 years, today announced that Scott Shaw, President and CEO, will be attending the Midwest IDEAS Conference, being held in Chicago, IL, on August 28th and 29th. Mr. Shaw will highlight the continued business momentum and growth drivers generating increased shareholder valuation, including the continued strong performance during the Company’s second quarter ended June 30, 2024, with revenue growing
The Company’s presentation will be on Wednesday, August 28th and is scheduled to begin at 1:20pm CT. The presentation will be webcast and can be accessed through the investor relations section of the Company's website: www.lincolntech.edu. Investors should reach out to the conference representatives, or mpolyviou@evcgroup.com to schedule one-on-one meetings with Lincoln’s management team.
“Our recently reported second quarter results and continued progress clearly demonstrate that we have transformed our company into an exceptional provider of education services that meet the needs of America’s corporations as well as America’s workforce,” commented Mr. Shaw. “Furthermore, we are positioned to build on our success and the solid first half performance. I believe our performance is attracting new investors seeking to leverage and capitalize on the skills gap in the U.S. and our participation at the IDEAS conference is a tremendous opportunity to meet these firms and share our vision for Lincoln.”
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 Lincoln College of Technology, Lincoln Technical Institute, Lincoln Culinary Institute, Euphoria Institute of Beauty Arts and Sciences and associated brand names. 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: EVC Group LLC Michael Polyviou, mpolyviou@evcgroup.com 732-933-2754
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