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Lincoln Educational Services (LINC)
NASDAQ:LINC
Earnings Data
Report Date
May 11, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.03Last Year’s EPS
0.11Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicates strong momentum: robust revenue and student-start growth, sizeable adjusted EBITDA and cash-flow improvement, successful campus expansions and operational efficiencies from the hybrid teaching model. Management provided confident 2026 guidance and a clear expansion roadmap. Key near-term challenges include a decline in graduation rate, healthcare program disruptions and the impact of materially higher depreciation and continued high capital spending on net income. Additionally, the accounting change to include preopening/start-up costs in adjusted EBITDA reduces prior comparability. Overall, positive operational and financial progress outweigh the noted headwinds, though investors should monitor depreciation and start-up cost impacts on reported profitability.Company Guidance
Strong Top-Line Revenue Growth
Q4 revenue grew $25.2M (+21.4%) to $142.9M; full-year 2025 revenue rose 19.7% to $518.2M. Management guided 2026 revenue of $580M–$590M (~13% growth year-over-year).
Robust Student Starts and Population Expansion
Q4 student starts grew 15.7% (full-year starts +15.2%), marking 13 consecutive quarters of starts growth. Average student population increased ~17% and year-end population rose nearly 15% to ~17,000 (≈2,200 more students than prior year).
Material Margin and Profitability Improvement
Adjusted EBITDA increased 51.2% in Q4 to $29.1M (full-year adjusted EBITDA +60% to $67.1M). EBITDA margin expanded by >400 basis points to 20.4%. Net income improved over 70% to $12.7M (Q4); full-year adjusted net income rose 64% to $28.4M.
Exceptional Cash Flow and Strong Liquidity
Q4 operating cash flow totaled $59.3M (more than double prior year). Company ended year with nearly $29M cash, approximately $90M total liquidity and no debt outstanding.
Accelerated Campus Expansion and Program Replication
Completed significant expansions in 2025: relocated Nashville campus (state-of-the-art), Philadelphia relocation to 90,000 sq. ft. Levittown facility, and a Houston greenfield campus. Management targets initiating 2 new campus projects per year (Hicksville, NY expected Q4 2026; Roulette, TX expected Q1 2027). Replicated programs widely (12th replication in Plainfield) and launched multiple new programs, contributing meaningfully to start growth.
Operational Efficiencies from Hybrid Teaching (Lincoln 10.0)
Hybrid teaching platform contributed to instructional efficiencies: education service & facility expenses (ex-depr) improved to 33.0% of revenue from 34.7%; SG&A improved to 49.8% from 51.6%. Bad debt as a % of revenue improved to 10.9% from 13.1%.
Confident 2026 Guidance with High Adjusted EBITDA Growth
2026 guidance: adjusted EBITDA $72M–$76M (implying ~30% adjusted EBITDA growth), student start growth 8%–13%, diluted EPS $0.64–$0.74, capital expenditures $70M–$75M. Management expects operating leverage to drive EBITDA growth faster than revenue growth.
Growing Employer Partnerships and Workforce Demand
Expanded corporate relationships (e.g., New Jersey Transit training agreement, Johnson Controls expansion) and workforce link initiatives supporting placement opportunities and future revenue from employer-funded training.
LINC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LINC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $29.99 | $33.04 | +10.17% |
Nov 10, 2025 | $17.80 | $20.08 | +12.81% |
Aug 11, 2025 | $23.75 | $20.17 | -15.07% |
May 12, 2025 | $20.92 | $21.32 | +1.91% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Lincoln Educational Services (LINC) report earnings?
Lincoln Educational Services (LINC) is schdueled to report earning on May 11, 2026, Before Open (Confirmed).
What is Lincoln Educational Services (LINC) earnings time?
Lincoln Educational Services (LINC) earnings time is at May 11, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LINC EPS forecast?
LINC EPS forecast for the fiscal quarter 2026 (Q1) is 0.03.