Lincoln Tech Q3 2020 Earnings Report
Key Takeaways
Lincoln Educational Services Corporation reported strong Q3 results, marked by an 8.5% increase in revenue, a 15.3% increase in student starts, and a more than doubling of net income. The company's performance reflects growth potential and operating leverage, despite challenges from the COVID-19 pandemic.
Revenue increased by 8.5%, driven by growth in both the Healthcare and Other Professions Segment (10.1%) and the Transportation and Skilled Trades Segment (7.9%).
Student starts rose by 15.3%, with increases in both the Healthcare and Other Professions Segment (10.6%) and the Transportation and Skilled Trades Segment (17.2%).
Net income more than doubled to $3.5 million, compared to $1.3 million in the prior year.
Cash flow from operations was $3.8 million, or $6.8 million on an adjusted basis excluding CARES Act impact.