Lincoln Educational Services(US:LINC) ZACKSยท2025-05-13 17:50Core Insights - Lincoln Educational Services Corporation (LINC) reported strong first-quarter 2025 results, with earnings and revenues exceeding the Zacks Consensus Estimate, marking the sixth consecutive quarter of double-digit growth [1][3] Financial Performance - Adjusted earnings per share were 11 cents, surpassing the Zacks Consensus Estimate of 4 cents by 175% and increasing 83.3% year-over-year [3] - Total revenues reached $117.5 million, exceeding the consensus estimate of $114 million by 3.2% and rising 13.7% from the previous year [3] - Adjusted EBITDA was $10.6 million, reflecting a year-over-year increase of 62.5% [5] Student Enrollment - Student starts (excluding the Transitional segment) grew by 20.9% to 4,610, while the quarter-end student population rose 18.3% to 15,904 compared to the previous year [4] - The average student population increased to 15,469 from 13,311 a year ago [4] Expenses and Cash Flow - Selling, general and administrative expenses increased by 10.6% year-over-year to $66.9 million, primarily due to costs related to new programs and campuses [4] - Cash and cash equivalents as of March 31, 2025, were $28.7 million, down from $59.3 million as of December 31, 2024 [7] Guidance and Projections - LINC raised its 2025 revenue guidance to between $485 million and $495 million, up from the previous range of $480-$490 million [8] - Adjusted EBITDA is now expected to be in the range of $58-$63 million, an increase from the earlier expectation of $55-$60 million [8] - Student starts growth is projected in the 10-14% range, up from the previous expectation of 8-12% [9]