Lincoln Edl Svcs Corp Stock Price, News & Analysis

Lincoln Educational Services Corporation (Nasdaq: LINC) reported a 4.5% increase in total revenue to $91.8 million for Q4 2022, with adjusted net income rising 20.7% to $9.9 million. The company anticipates modest revenue growth for 2023, projecting $345 million to $360 million. Student starts grew 2.4%, driven by a hybrid teaching model. The board extended a share repurchase program by $10 million, totaling $30.6 million available for repurchase until May 2024. Key challenges include higher instructional costs and increased capital expenditures to $35-$40 million for growth initiatives. Overall, adjusted EBITDA for 2023 is expected between $19 million and $24 million.

Lincoln Educational Services Corporation (NASDAQ: LINC) announced a conference call scheduled for February 27, 2023, at 10:00 a.m. Eastern time to discuss its fourth-quarter and year-end financial results. A news release detailing these results will be published prior to the call at 9:30 a.m. Eastern time. Interested participants can access the live webcast through Lincoln's investor relations page or register for teleconference access, with personalized PINs provided upon registration. An archived version of the call will be available for 90 days thereafter.

Johnson Controls has launched the Johnson Controls Academy, a six-week training program aimed at addressing the skilled labor gap in the building technology sector. Based at Lincoln Tech's campus in Columbia, Maryland, the academy provides housing and relocation assistance to participants, helping them transition to employment at Johnson Controls locations across the U.S. Each year, the program seeks to onboard approximately 130 new technicians. The initiative is essential as the industry faces an expected 10,000 job openings annually over the next decade due to retiring professionals. Graduates are equipped with the necessary digital and technical skills for today’s job market.

Lincoln Educational Services Corporation (NASDAQ: LINC) announces the release of a new computerized manufacturing textbook, the 'CNC Programmer’s Guide,' authored by Rick Calverley, Director of Education at the Grand Prairie, TX campus. This is Calverley's second textbook, aiming to modernize CNC programming education with advanced techniques. Launched alongside a successful CNC training program since 2014, 90% of graduates from the Grand Prairie campus secured employment last year. The U.S. Department of Labor anticipates 147,000 new CNC machinist roles will arise across various industries, indicating strong demand for skilled graduates from Lincoln Tech.

Lincoln Educational Services Corporation (NASDAQ: LINC) announced the mandatory conversion of its Series A Convertible Preferred Stock, resulting in the cancellation of 12,700 shares and the issuance of 5,381,360 shares of Common Stock. This conversion eliminates $1.2 million in annual dividends and simplifies the company’s capital structure, providing more resources for strategic initiatives. The correction in the press release addressed a decimal point in the conversion ratio, but the number of converted shares remains unchanged.

Lincoln Educational Services Corporation (NASDAQ: LINC) has fully converted its Series A Convertible Preferred Stock, cancelling 12,700 shares in exchange for 5,381,360 shares of common stock. This action eliminates $1.2 million in annual dividend payments, simplifying the company’s capital structure and providing additional resources for strategic initiatives. CEO Scott Shaw expressed satisfaction over this development, which marks a significant change in the company's financial obligations.

Lincoln Educational Services Corporation (NASDAQ: LINC) has launched Heavy Equipment Operation training programs at its Nashville, TN, and South Plainfield, NJ campuses to address the growing demand for skilled operators. The program can be completed in as little as eight weeks and includes both theoretical and practical components, utilizing CAT Simulators for hands-on experience. With over 450,000 projected openings for Heavy Equipment Operators nationwide by 2031, this initiative aims to enhance workforce readiness and support the construction industry.

Lincoln Educational Services Corporation (NASDAQ: LINC) is launching a new Medical Assistant training program at its East Windsor, CT campus on November 30, addressing the significant demand for qualified candidates in the healthcare sector. With over 12,000 job openings expected in Connecticut by 2030 and 80,000 across New England and New York, this program aims to prepare students through a hybrid learning model. The campus has invested over $200,000 to set up specialized training facilities, helping meet employer needs in a rapidly growing field.