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Jun 30, 2021
Lincoln Tech Q2 2021 Earnings Report
Lincoln Tech reported revenue growth and operating and net income improvement.
Key Takeaways
Lincoln Educational Services Corporation reported a 28.8% increase in revenue to $80.5 million for the second quarter of 2021. The company's operating income rose to $3.5 million, and net income improved to $2.4 million, or $0.06 per diluted share.
Revenue increased 28.8% to $80.5 million.
Student starts increased 8.0%.
Operating income increased to $3.5 million.
Net income improved to $2.4 million, or $0.06 per diluted share.
Lincoln Tech
Lincoln Tech
Forward Guidance
Lincoln is refining its 2021 full year guidance as a result of the company’s performance in the first half and management’s outlook for the remainder of the year.
Positive Outlook
- Annual revenue growth of 9% to 12% over 2020, compared to the previous guidance of 7% to 12%.
- Full year student starts growth of 5% to 10% over 2020, the same as previously communicated.
- Adjusted EBITDA of between $34.0 million and $37.0 million, compared to the previous guidance of $32.0 million to $37.0 million and $23.9 million in 2020.
- Pre-tax Income of between $24.0 million and $27.0 million, compared to the previous guidance of $22.0 million to $27.0 million and $13.5 million in 2020.
- Capital expenditures of approximately $7.5 million.