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 Tech's Nashville Auto-Diesel College (NADC) has donated diesel engines to several local high schools and colleges. This initiative aims to support future skilled technicians and address the projected 240,000 job openings for diesel and truck technicians by 2032. The donated engines, each valued at $20,000, will help schools like Hickman County High School, East Hickman County High School, and Tennessee College of Applied Technology (TCAT) enhance their diesel technology programs. Brent Jenkins, President of NADC, and other educational leaders emphasized the importance of such donations in providing students with hands-on experience and exposure to the latest technology in the field.
Lincoln Tech has entered into a five-year workforce development partnership with Container Maintenance (CMC), a subsidiary of Marino Group, to train approximately 800 CMC technicians by 2029. Training will occur at CMC's main branch in Charleston, SC, starting in June 2024. The program aims to enhance skills in key areas such as Electrical, Tires, Axles, Frames, Suspensions, Brakes, and Welding/Fabrication. CMC will provide the training equipment, and the curriculum will follow IANA recommendations. This partnership marks a significant expansion in Lincoln Tech's technical training footprint, potentially opening career opportunities for its graduates within CMC and the broader Marino Group.
Lincoln Educational Services (Nasdaq: LINC) will highlight its growth and business momentum at several industry and investor events in May and June 2024. Key events include the B. Riley Securities 24th Annual Institutional Investor Conference on May 22-23 in Beverly Hills, CA, the Lytham Partners Spring 2024 Investor Conference on May 30, and additional conferences in June in New York City, Minneapolis, Milwaukee, and Chicago. President and CEO Scott Shaw and CFO Brian Meyers will discuss the company's 15% increase in student starts and 20% revenue growth in Q1, 2024. The company has raised its financial guidance for the year, driven by strong demand in the automotive, skilled trades, and healthcare sectors.
Lincoln Educational Services (NASDAQ: LINC) has expanded its partnership with Peterbilt Motors Company to offer specialized diesel technician training at its Denver, CO campus. The program aims to equip Lincoln graduates with skills for Peterbilt-specific equipment and technologies, enhancing their career opportunities. Peterbilt dealerships will cover the cost of the 12-week training program, providing hands-on experience with real Peterbilt trucks. Upon completion, students earn nine factory-trained technician credentials, facilitating career advancement in more than 420 Peterbilt dealerships nationwide.
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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