Q3 2025 Lincoln Educational Services Corp Earnings Call Transcript

Nov 10, 2025 / 03:00 PM GMT

Release Date Price: €15.2

Transcript 8-K10-Q

Key Points

Positve

Lincoln Educational Services Corp (LINC) reported a 6% growth in student starts, marking the 12th consecutive quarter of growth.
The company achieved double-digit growth in total student population, total revenue, and consolidated adjusted EBITDA.
New campus developments in East Point, Nashville, Levittown, and Houston are generating stronger and faster returns than anticipated.
Lincoln's innovative hybrid teaching platform and program expansions have contributed to solid organic growth at existing campuses.
The company is raising its full-year financial guidance, expecting revenue between $505 to $510 million and adjusted EBITDA between $65 to $67 million.

Negative

Healthcare and other professional programs experienced a 13.7% decline in starts, partly due to the discontinuation of smaller programs.
The company faces regulatory hurdles in expanding its RN programs, which could take 12 to 48 months depending on the state.
Despite positive performance, the market still does not fully understand Lincoln's potential, affecting its market perception.
The company is experiencing a decline in its healthcare segment, although it is not considered meaningful or concerning.
Lincoln's military student population has decreased to 5-6% due to restrictions on housing benefits for hybrid programs.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LINC.OQ - Lincoln Educational Services Corp
Q3 2025 Lincoln Educational Services Corp Earnings Call
Nov 10, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the 3rd quarter 2025 Lincoln Educational Services earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question-and-answer session. To ask a question during the session, you'll need to press 11 on your telephone. You will then hear an automated message advising your hand is raised to withdraw your question, please press 11 again. Please be advised today's conference is being recorded. I would attend the conference over to your speaker today, Michael Poo of you may begin.

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Unidentified_2 [2

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