Published on 20 Mar 2024 on Zacks via Yahoo Finance
Lincoln (LINC) to Witness Solid Student Start Growth in Q1
Lincoln Educational Services Corporation LINC recently unveiled that it expects to continue its strong business momentum in the first quarter of 2024. The company projects student start growth to improve by approximately 15% compared with 6.4% (excluding the transitional segment) in the first quarter of 2023.Scott Shaw, president and CEO of LINC, said, “Our expected strong start growth in Q1 builds on the momentum we generated during 2023, which led to increased student starts, student retention, graduation and placement rates with employers as well as the achievement of all of our financial guidance objectives during the year.”In 2023, new student starts increased 11.4% from 2022. Revenues increased 8.6% to $376.6 million, backed by a 10.3% rise in Campus Operations segment revenues.For 2024, the company expects revenues in the range of $410-$420 million, with starts growth between 7% and 12%. Adjusted EBITDA is likely to be $35-$40 million versus $26.5 million reported in 2023.
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