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Jun 30, 2020
Lincoln Tech Q2 2020 Earnings Report
Lincoln Tech's Q2 2020 performance reflected double-digit student start growth, higher earnings, and positive cash flow from operations.
Key Takeaways
Lincoln Educational Services Corporation reported a 15.2% increase in student starts and a net income of $0.8 million for Q2 2020. The company successfully managed challenges posed by the COVID-19 pandemic through transitioning to remote learning and reopening campuses, leading to strong student engagement and graduation rates.
Student starts increased by 15.2%, with the Transportation and Skilled Trades segment rising by 13.5% and the Healthcare and Other Professions segment growing by 18.8%.
The ending student population increased by 7.5%, or 800 students, excluding approximately 700 students on a leave of absence.
Net income reached $800,000, supported by cost management actions in response to COVID-19.
Cash flow from operations was $18.4 million, with an adjusted cash flow of $3.9 million excluding the CARES Act impact.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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