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Lincoln Educational Services reports on career-oriented post-secondary education for high school graduates and working adults, with programs in skilled trades, automotive technology, health sciences and information technology. The company operates campus-based schools under the Lincoln College of Technology, Lincoln Technical Institute and Nashville Auto Diesel College brands.
Company news commonly covers quarterly results, student starts and student population trends, tuition and campus operating performance, program replication, new-campus development, graduate placement themes, investor presentations and financing actions such as revolving credit facility amendments.
Lincoln Educational Services Corporation (LINC) reported a revenue of $91.8 million for Q3 2022, a 3.1% increase year-over-year. Net income stood at $3.5 million with earnings per share at $0.10. The rise in revenue was driven by a 5.9% increase in average revenue per student, despite a 2.7% decline in average student population. The company repurchased 668,440 shares for $4.2 million, maintaining a cash balance of $69.6 million and no debt. Looking ahead, LINC expects student starts to increase in Q4 2022.
Lincoln Educational Services Corporation (Nasdaq: LINC) will host a conference call on November 7, 2022, at 10:00 a.m. Eastern time to discuss its third quarter financial results. The release detailing the results will be available before 9:30 a.m. Eastern time on the same day. Investors can access the live webcast via Lincoln's investor relations page or register for the teleconference. An archived version of the webcast will be available for 90 days. Lincoln offers career-oriented education across various fields, currently operating 22 campuses in 14 states.
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Lincoln Educational Services Corporation (NASDAQ: LINC) announced that student Avery Hill has been awarded a $5,000 Work Ethic Scholarship from the Mike Rowe Works Foundation. Enrolled in the Heating, Ventilation and Air Conditioning (HVAC) program at Lincoln's East Windsor, CT campus, Hill's scholarship highlights the importance of career-focused education in in-demand trades. Hill, motivated by the HVAC industry's job stability, plans to graduate in September 2023 and return to his hometown to pursue a specialized career in air conditioning and refrigeration.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced that Angela Reppert received the ACCSC Commitment to Education Award for 2022. Serving as the President of the Allentown, PA campus since 2019, Reppert has been with the organization for nearly 30 years. Her leadership has emphasized student success and community service, contributing to a strong graduate employment rate. The Allentown campus, providing training in various fields like Medical Assisting and Computer Networking, has a history of serving the community since 1949, helping students to secure jobs in their respective fields.
Lincoln Educational Services Corporation (NASDAQ: LINC) has entered into a significant partnership with Tesla to create a Tesla training facility at its Denver campus. This initiative will provide students with industry-leading electric vehicle (EV) training at no cost, targeting future service technicians for Tesla. The 16-week program includes stipends and access to equipment and vehicles from Tesla. Graduates may have opportunities to work at Tesla service centers, addressing the projected need for over 690,000 skilled auto technicians in the U.S. by 2030.
Lincoln Educational Services Corporation (Nasdaq: LINC) will hold a conference call on August 8, 2022, at 10:00 a.m. Eastern Time to discuss its second quarter financial results. A news release with these results will be available before 9:30 a.m. on the same day. Interested participants can access the live webcast via Lincoln's investor relations page or register for the teleconference to receive a personalized dial-in number. The archived webcast will be available for 90 days after the event.
Lincoln Educational Services Corporation (NASDAQ: LINC) has announced plans for a new 55,000 square foot campus in the Atlanta area, aimed at addressing the country's skills gap. The campus, expected to enroll around 700 students, will focus on training in Auto Technology, HVAC, and other skilled trades. Projected to generate $20 million in revenue and $5 million in EBITDA within four years, this campus marks the first of five planned under a strategic growth initiative. The anticipated opening is set for Q3 2023, depending on regulatory approvals.
Lincoln Educational Services Corporation (NASDAQ: LINC) is launching a new series of weekend training courses at the Kindig Academy in Denver, starting July 23rd. These courses are designed for individuals with no prior experience, focusing on skills vital for the automotive customization industry. With a projected 150,000 job openings by 2030, these courses will aid students and hobbyists alike in exploring career opportunities. Each course offers 20 hours of hands-on instruction and culminates in a certificate of completion.
Lincoln Educational Services Corporation (NASDAQ: LINC) announced its partnership with AkzoNobel Coatings to enhance its Collision Repair and Refinishing programs across its campuses in the U.S. This collaboration allows students to utilize AkzoNobel's premium Sikkens and Lesonal paint products, ensuring high-quality training. The partnership follows the launch of the Kindig Academy in Denver, CO, and aims to prepare students for a workforce with over 150,000 projected openings in collision repair by 2030.