Lincoln Educational Services(NASDAQ) LINC

Lincoln Educational Services Corporation trains people for technical jobs. Students learn skills for healthcare and skilled trades. These schools help adults start new careers.

Training for the Modern Workforce

• Campus Operations: Career-oriented postsecondary education delivered through 22 campuses in 12 states; accounts for 100% of revenue.
• Transportation and Skilled Trades: Hands-on training for automotive technology, electrical work, welding, and climate control repair.
• Healthcare and Other Professions: Specialized programs for nursing, dental assisting, medical administrative support, and beauty arts.
• Information Technology: Professional courses focused on computer systems and network management.

Growing the Campus Network

• Opened a new campus in Houston, Texas, in August 2025.
• Relocated existing campuses to new facilities in Nashville, Tennessee, and Levittown, Pennsylvania, during 2025.
• Acquired the Melrose Park campus building in Illinois on July 7, 2026, to convert it from a leased to an owned facility.
• Entered into leases for three new campuses in New York, Texas, and Maryland with openings planned through 2027.
• Amended a credit agreement in April 2026 to increase total borrowing capacity to $125.0 million.

What Makes Lincoln Stand Out?

Lincoln uses a hybrid teaching model called Lincoln 10.0 to combine digital learning with traditional hands-on shop and lab instruction. The schools maintain national accreditation, which allow students to access federal student loans and other forms of financial aid.

A Look at the Results

• Revenue rose 22.4% to $142.6 million for the three months ended June 30, 2026.
• Average student population grew 14.5% year over year to 18,343 for the second quarter of 2026.
• Net cash provided by operating activities reached $26.7 million for the six months ended June 30, 2026.
• Selling, general and administrative expenses improved to 55.9% of revenue for the three months ended June 30, 2026, down from 57.6% year over year.

The Evolution of the Business

Lincoln has expanded from a local training school into a multi-state provider of essential vocational education. Its transition to a hybrid teaching platform and the opening of new metropolitan campuses support its long-term growth and operational efficiency.