Lincoln Tech Q3 2022 Earnings Report
Key Takeaways
Lincoln Educational Services Corporation reported a 3.1% increase in revenue to $91.8 million for the third quarter of 2022, with net income of $3.5 million and earnings per share of $0.10. The revenue growth was attributed to a 5.9% increase in average revenue per student, offsetting a 2.7% decline in average student population. The company continued to invest in growth strategies, including a new Atlanta campus and centralizing the financial aid process.
Revenue increased by 3.1% to $91.8 million compared to the prior year.
Net income was $3.5 million, with earnings per share of $0.10.
The company repurchased 668,440 shares of common stock for $4.2 million during the quarter.
The company expects fourth quarter student starts to increase compared to last year.
Lincoln Tech
Lincoln Tech
Lincoln Tech Revenue by Segment
Forward Guidance
The Company is reiterating its 2022 full year guidance
Positive Outlook
- Revenue in the range of $340 million to $350 million.
- Student start decline / growth in the range of -3% to 3%.
- Adjusted EBITDA in the range of $25 million to $30 million.
- Net income in the range of $10 million to $15 million.
- Capital expenditures in the range of $8 million to $11 million.