Welcome to our dedicated page for Lincoln Edl Svcs news (Ticker: LINC), a resource for investors and traders seeking the latest updates and insights on Lincoln Edl Svcs stock.
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 (LINC) extends its share repurchase program until May 24, 2025, with $29.7 million still available for repurchases. The program, initially at $30 million, was increased to $40 million, resulting in about 1.7 million shares repurchased at an average price of $5.95. The company will fund repurchases using cash on hand and operational funds, aiming to optimize balance sheet and deliver value to shareholders.
Lincoln Educational Services reported strong growth in the first quarter of 2024, with a 15% increase in student starts and a 20% growth in revenue. Financial highlights include a revenue increase to $103.4 million, tripled Adjusted EBITDA to $6.5 million, and a 11.2% rise in student population. The company also entered into new agreements and a credit facility, with total liquidity over $109 million. Lincoln raised its full-year guidance for revenue, Adjusted EBITDA, and Adjusted Net Income. The company's President & CEO commented on the positive momentum and the benefits of the innovative educational approach adopted by Lincoln, which is meeting the demand for skilled professionals in the market. The company is seeing increased interest from both students and employers and positioning itself for future growth.
Lincoln Tech is opening a new campus in East Point, GA, marking a milestone in its expansion plan. The Grand Opening on May 9th will offer training in automotive, electrical, welding, HVAC, and more. The campus aims to address the growing demand for skilled professionals in these industries, partnering with top companies like Tesla and Mazda.
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