Loading...
•
Dec 31, 2020
Lincoln Tech Q4 2020 Earnings Report
Lincoln demonstrated strong financial performance with double-digit growth in student starts and revenue, leading to increased profitability.
Key Takeaways
Lincoln Educational Services Corporation reported a strong fourth quarter with a 15.0% increase in new student starts and a 10.7% increase in revenue. Net income was $46.0 million, which included a $35.9 million release of tax valuation allowance. The company's performance reflects its ability to adapt to the COVID-19 pandemic and continue providing essential career training.
New student starts increased by 15.0%.
Revenue grew by 10.7% to $81.8 million.
Net income reached $46.0 million, including a $35.9 million release of tax valuation allowance.
Operating income increased by 10.7% to $11.1 million.
Lincoln Tech
Lincoln Tech
Forward Guidance
The Company is providing the following outlook for the year 2021:
Positive Outlook
- Annual revenue growth of 7% to 12% over 2020.
- Annual student start growth of 5% to 10% over 2020.
- Adjusted EBITDA of between $29.0 million and $34.0 million, which would represent a 22.0% to 43.0% growth over 2020 Adjusted EBITDA*
- Income before taxes of between $19.0 million and $24.0 million, which would represent a 41.0% to 78.0% increase over 2020 income before taxes.
- Capital expenditures are projected to be approximately $7.5 million.