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Dec 31, 2019
Lincoln Tech Q4 2019 Earnings Report
Lincoln Tech reported strong Q4 2019 results, with revenue and net income increasing.
Key Takeaways
Lincoln Tech reported a strong fourth quarter with a 5.4% increase in total revenue, driven by growth in both Transportation and Skilled Trades and Healthcare and Other Professions segments. Net income increased significantly by 82.5%, reflecting improved operating efficiency and expense controls. The company also completed financing transactions that increased liquidity and are expected to result in annualized interest savings.
Total revenue increased by 5.4%, with same school revenue up 7.1%.
Student starts rose by 9.7%, marking nine consecutive quarters of growth for both Transportation and Skilled Trades and Healthcare and Other Professions segments.
Operating income grew by 74.7% to $10.1 million.
Net income increased by 82.5% to $9.2 million, or $0.33 per diluted share.
Forward Guidance
The Company is providing the following guidance for 2020:
Positive Outlook
- Revenue and student starts are expected to increase 3% to 5%.
- EBITDA is projected to be between $15.0 million to $17.0 million, which would be a 12% to 27% increase over 2019 EBITDA.
- Operating income is expected to be between $7.0 million to $9.0 million, which would represent a growth rate of 34% to 72% over 2019 operating income.
- Capital expenditures are projected to be between $6.5 million to $7.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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