While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

PARSIPPANY, N.J., May 07, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ:LINC) today announced that its Board of Directors has authorized extension of its share repurchase program for an additional twelve months through May 24, 2025. On May 24, 2022, the Company announced that its Board of Directors had authorized a share repurchase program of up to $30 million of the Company's outstanding common stock. The repurchase program was initially authorized for twelve months and has sinc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______ to______ Commission File Number 000-51371 LINCOLN EDUCATIONAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) New Jersey 57- ...

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Lincoln Educational Services reported strong Q1 2024 financial and operational growth, including significant increases in student starts and revenue, tripling Adjusted EBITDA, and advancing strategic campus expansions Q1 2024 Financial Highlights (vs. Q1 2023) | Metric | Q1 2024 | Growth | | :--- | :--- | :--- | | Revenue | $103.4 million | +19.7% | | Adjusted EBITDA | $6.5 million | Tripled | | Student Starts | - | +15.3% | | End of Quarter Student Population | 13,801 | +11.2% | - **Strategic Growth Initiatives**: The company is actively expanding its physical footprint and program offerings, including new campuses in East Point, Georgia, Nashville, TN, Levittown, PA, and Houston[3](index=3&type=chunk) - A new 5-year, nearly **$6.0 million** agreement was signed with Container Maintenance Corporation (CMC) for on-site employee training, marking the company's largest program of its type[5](index=5&type=chunk) - A new **$40 million** credit facility with Fifth Third Bank was secured to support growth, complementing a total liquidity position exceeding **$109 million** with no outstanding debt[4](index=4&type=chunk)[26](index=26&type=chunk) [First Quarter 2024 Financial Results](index=2&type=section&id=2024%20FIRST%20QUARTER%20FINANCIAL%20RESULTS) Q1 2024 revenue increased 19.7% to $103.4 million, driven by student population and start growth, while operating expenses rose due to investments in new campuses, staffing, and marketing Consolidated Statement of Operations Summary (Three Months Ended March 31) | Metric (in thousands) | 2024 | 2023 | | :--- | :--- | :--- | | **Revenue** | **$103,366** | **$87,284** | | Total Costs & Expenses | $103,824 | $88,400 | | Operating Loss | ($458) | ($1,116) | | Net Loss | ($214) | ($109) | | **Adjusted EBITDA** | **$6,545** | **$2,196** | - Revenue growth was primarily driven by an **11.9%** rise in average student population and **15.3%** growth in student starts[8](index=8&type=chunk) - Educational services expenses included approximately **$2.9 million** in one-time costs for new and relocated campuses[8](index=8&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **$10.2 million**, driven by higher administrative salaries, medical claims, bad debt, and a **$1.6 million** increase in marketing investments[8](index=8&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) The Campus Operations segment drove Q1 2024 performance with 19.7% revenue growth and 56.5% Adjusted EBITDA increase, while the Transitional Segment concluded and corporate expenses rose due to higher compensation Campus Operations Segment - Q1 2024 vs Q1 2023 | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Revenue | $103.4 million | $86.4 million* | +19.7% | | Adjusted EBITDA | $18.1 million | $11.6 million | +56.5% | - The Transitional Segment, completed in Q4 2023, had no financial impact in Q1 2024, compared to **$0.9 million** in revenue and **$1.1 million** in expenses in Q1 2023[9](index=9&type=chunk) - Corporate and Other expenses increased by **$1.8 million** year-over-year, primarily due to higher salaries, performance incentives, and medical benefits[10](index=10&type=chunk) [Consolidated Balance Sheet](index=6&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2024, the company maintained a healthy balance sheet with **$68.6 million** in cash and equivalents, **$355.2 million** in total assets, and **$164.5 million** in total stockholders' equity Selected Balance Sheet Data (As of March 31, 2024, in thousands) | Account | Amount | | :--- | :--- | | Cash and cash equivalents | $68,554 | | Working capital | $58,867 | | Total assets | $355,163 | | Total stockholders' equity | $164,493 | [Full Year 2024 Outlook](index=3&type=section&id=FULL%20YEAR%202024%20OUTLOOK) Following strong Q1 results, Lincoln Educational Services raised its full-year 2024 guidance, projecting higher revenue, Adjusted EBITDA, and adjusted net income, with student start growth between 7% and 12% Updated Full Year 2024 Guidance | Metric (Amounts in millions) | Low | High | | :--- | :--- | :--- | | Revenue | $418 | $428 | | Adjusted EBITDA | $37 | $42 | | Adjusted net income | $12 | $17 | | Capital expenditures | $65 | $70 | | Student Starts Growth | 7% | 12% | [Non-GAAP Financial Measures & Reconciliations](index=6&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) The company uses non-GAAP measures like EBITDA, Adjusted EBITDA, and Adjusted Net Income to reflect core business performance, excluding non-recurring items, and provides reconciliations to GAAP equivalents for comprehensive financial insight - **EBITDA** is defined as net income before interest, taxes, depreciation, and amortization[23](index=23&type=chunk) - **Adjusted EBITDA** further excludes stock compensation and other non-recurring items such as new campus costs and severance[23](index=23&type=chunk) - **Total Liquidity** includes cash and cash equivalents, short-term investments, restricted cash, and available credit facilities[23](index=23&type=chunk)[26](index=26&type=chunk) [Q1 2024 Reconciliations](index=7&type=section&id=Q1%202024%20Reconciliations) Q1 2024 GAAP net loss of **$0.214 million** was reconciled to **$6.5 million** Adjusted EBITDA, with key adjustments for depreciation, new campus costs, and stock compensation, resulting in **$1.9 million** Adjusted Net Income and **$109.8 million** total liquidity Q1 2024 Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Item | Amount | | :--- | :--- | | **Net loss (GAAP)** | **($214)** | | Depreciation and amortization | $2,964 | | Stock compensation expense | $1,059 | | New campus and campus relocation costs | $2,802 | | Other adjustments | $89 | | **Adjusted EBITDA (Non-GAAP)** | **$6,545** | Total Liquidity as of March 31, 2024 (in thousands) | Component | Amount | | :--- | :--- | | Cash and cash equivalents | $68,554 | | Restricted cash | $1,221 | | Credit facility | $40,000 | | **Total Liquidity** | **$109,775** | [2024 Guidance Reconciliations](index=11&type=section&id=2024%20Guidance%20Reconciliations) The company provides a full-year 2024 guidance reconciliation, projecting a GAAP net income of **$6.8 million** to an Adjusted EBITDA of **$39.5 million**, with significant add-backs for depreciation, new campus costs, and stock compensation Reconciliation of 2024 Guidance (Midpoint, in thousands) | Item | Adjusted EBITDA | Adjusted Net Income | | :--- | :--- | :--- | | **Net Income (GAAP)** | **$6,800** | **$6,800** | | D&A and Interest | $14,400 | - | | New campus & relocation costs | $8,700 | $8,700 | | Program expansions | $2,300 | $2,300 | | Stock compensation expense | $4,200 | - | | Tax Effect | - | ($3,300) | | **Total (Non-GAAP)** | **$39,500** | **$14,500** | [Supplemental Student Data](index=9&type=section&id=Supplemental%20Student%20Data) The report details Q1 2024 student metrics, showing total student starts grew **15.3%** to **3,967**, primarily driven by an **18.5%** increase in Transportation and Skilled Trades programs, with average student population up **11.9%** Student Metrics by Program (Campus Operations, Q1 2024 vs Q1 2023) | Program Group | Metric | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | :--- | | **Transportation & Skilled Trades** | Starts | 2,682 | 2,263 | 18.5% | | | Avg. Population | 9,544 | 8,281 | 15.3% | | **Healthcare & Other** | Starts | 1,285 | 1,177 | 9.2% | | | Avg. Population | 4,134 | 3,944 | 4.8% | | **Total** | **Starts** | **3,967** | **3,440** | **15.3%** | | | **Avg. Population** | **13,678** | **12,225** | **11.9%** |

Lincoln Educational Services Corporation (LINC) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this company would post earnings of $0.28 per share when it actually produced earnings of $0.32, delivering a surprise of 14.29%.Over the last four ...

PARSIPPANY, N.J., May 06, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ:LINC) today announced financial and operating results for the first quarter ended March 31, 2024, as well as recent business developments. First Quarter 2024 Financial Highlights* Revenue grew 19.7% to $103.4 millionAdjusted EBITDA tripled to $6.5 millionStudent starts increased 15.3%Ended quarter with 1,388 additional students, a 11.2% increase in populationTotal liquidity of over $109 million; no debt outst ...

Parsippany, NJ, May 03, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ:LINC), a national leader in specialized technical training for more than 75 years, will officially open its new campus in East Point, GA. A Grand Opening will be held on Thursday, May 9th beginning at 12PM. Industry representatives, local hiring partners, and regional political officials, including Georgia State Senator Sonya Halpern and East Point Mayor Deana Holiday Ingraham, are also expected to attend. The ...

PARSIPPANY, N.J., April 25, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ:LINC) ("Lincoln") announced today that it will host a conference call to discuss its first quarter financial results on Monday, May 6, 2024 at 10:00 a.m. Eastern time. A news release outlining Lincoln's results will be issued before 9:30 a.m. Eastern time on that day. To access the live webcast of the conference call, please go to the investor relations section of Lincoln's website at http://www.lincolntech ...

PARSIPPANY, N.J., April 25, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) (“Lincoln”) announced today that it will host a conference call to discuss its first quarter financial results on Monday, May 6, 2024 at 10:00 a.m. Eastern time. A news release outlining Lincoln’s results will be issued before 9:30 a.m. Eastern time on that day. To access the live webcast of the conference call, please go to the investor relations section of Lincoln’s website at http://www.lincolntec ...

Parsippany, NJ, April 23, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (NASDAQ:LINC), a national leader in specialized technical training for more than 75 years, is a sponsor of Maryland CareerQuest 2024, seeking to raise awareness of the career opportunities in hands-on trades and the training required to attain those roles. The event at the Live! Hotel in Hanover, MD on Monday, April 29 beginning at 10am will feature a keynote address by Maryland Lieutenant Governor Aruna Miller. More ...