Lincoln Educational Services(US:LINC)2022-09-14 17:59Company Overview - Lincoln Tech operates 22 campuses in 14 states, serving approximately 13,000 students as of June 30, 2022[13] - The company's stock price was $631 as of June 30, 2022, with a market capitalization of $1699 million[11] - Lincoln Tech's 2021 revenues were $3353 million, with an adjusted EBITDA of $351 million[11] Financial Performance - For the six months ended June 2022, revenue was $1647 million, a 39% increase compared to $1585 million in 2021[36, 42] - Adjusted EBITDA for the six months ended June 2022 was $49 million, compared to $115 million in 2021[36, 45] - Lincoln Tech's market share in Transportation and Skilled Trades is approximately 20%, while in Healthcare and Other Professions it's about 05%[20, 21] Growth Strategy - Lincoln Tech is expanding its programs, including new Electrical and Welding programs, and exploring strategic acquisitions to expand market share and diversify program offerings[5] - The company is constructing new schools and creating a new efficient and streamlined campus model[5] - A new Atlanta campus is expected to open in Q3 2023, with a capacity for approximately 700 students and a capital expenditure of around $14 million[7] Regulatory and Compliance - Lincoln Tech's 90/10 ratio is 75% overall, indicating strong compliance with regulations[28] - The company's composite score is 30, reflecting a financially responsible institution[28]