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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 (NASDAQ: LINC) has launched a podcast series, "Skills @ Work," to highlight career opportunities in essential hands-on industries. With job openings expected to exceed 1.1 million by 2032, this initiative aims to address the skills gap impacting various sectors, including manufacturing and IT. The first episodes cover computerized manufacturing and computer networking, with future topics including diesel technology. The podcasts, available on major platforms, feature insights from industry experts and graduates, encouraging skill development and job-seeking.
Lincoln Educational Services Corporation (Nasdaq: LINC) has authorized a share repurchase program of up to $30 million for its common stock, effective for twelve months. Management plans to execute the buyback through various methods, prioritizing acquisitions at prevailing market prices. This initiative reflects the Board's confidence in the company's growth strategy and aims to enhance shareholder value. The company will use cash reserves and operational funds for the repurchase, with shares canceled post-purchase to boost corporate flexibility.
Lincoln Educational Services Corporation (Nasdaq: LINC) announced that CEO Scott Shaw will participate in a fireside chat at the B. Riley Institutional Investor Conference on May 26, 2022, at 9:30am PDT. The discussion will cover the company's recent operational performance, including first-quarter results. Shaw emphasized the company's 75 years of success and a strong balance sheet as key advantages. The conference aims to connect institutional investors with company executives to explore investment opportunities.
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Lincoln Educational Services Corporation (NASDAQ: LINC) has partnered with AAA Northeast to offer complimentary auto safety check-ups at its Union, NJ campus, enhancing the driving experience ahead of the busy summer travel season. The event, scheduled for May 14, 2022, will allow students in Lincoln's Automotive Technology program to engage with the community while promoting vehicle safety. The partnership aims to address the increase in roadway fatalities and provide valuable insights on maintaining vehicle efficiency amidst rising gas prices.
Lincoln Educational Services Corporation (LINC) reported a revenue increase of 5.8% to $82.6 million in Q1 2022, compared to the prior year. Adjusted EBITDA fell to $2.4 million from $5.4 million. The average student population rose by 4.4%, but new student starts decreased slightly. Management reiterated its full-year guidance, expecting low double-digit start growth in Q2 2022. Significant challenges include wage inflation and a tight labor market. Strategies for growth include campus expansions and leveraging cash reserves of over $65 million.
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Lincoln Educational Services Corporation has partnered with Ford Motor Company to launch a no-cost post-graduate Automotive Training program at its Indianapolis campus. This four-week program aims to equip Automotive Technology graduates with skills for mobile repair and maintenance services on Ford vehicles. Tuition is covered by Ford, which is also providing employment opportunities at over 200 dealerships offering mobile services. The initiative intends to expand Ford's mobile technician workforce to 1,100 units by the end of 2022, enhancing customer convenience and graduate employment prospects.
Lincoln Educational Services Corporation (Nasdaq: LINC) announced a conference call scheduled for May 9, 2022, at 10:00 a.m. Eastern time to discuss its first-quarter financial results. A news release detailing these results will be available before 9:30 a.m. on the same day. The call can be accessed via the company’s investor relations website or by phone. A recording of the call will be available for seven days following the event. Lincoln, established in 1946, provides career-oriented post-secondary education across various fields through its 22 campuses in 14 states.
Lincoln Educational Services Corporation (Nasdaq: LINC) reported robust results for Q4 and full-year 2021, exceeding financial guidance. Q4 revenue rose by 7.4% to $87.8 million, driven by a 6.3% increase in average student population. The company recorded a net income of $24 million and net cash of $83.3 million, a $62.5 million increase year-over-year. For 2022, Lincoln anticipates revenue between $350-$365 million and student start growth of 5%-10%. Additionally, the firm plans to relocate its Nashville campus and expand its operations, bolstering long-term growth prospects.