Lincoln Educational Services Corporation (LINC) Earnings Call Transcripts

Lincoln Educational Services Corporation's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Lincoln Educational Services Corporation (LINC:US) reported a robust 22.5% revenue growth to $144 million, driven by a 19.5% increase in student starts. Adjusted EBITDA surged by 84.7% to $15.5 million, and net income more than doubled to $4.4 million. Management raised their 2026 guidance, now expecting revenue between $590 million and $600 million, reflecting strong operational execution and market demand for skilled trades training.

Reported metrics

Guidance from management

Management raised their full-year guidance to $590 million to $600 million in revenue and $76 million to $80 million in adjusted EBITDA, reflecting confidence in continued growth.

What management said

Sure. So I mean, last year, if you look at the full year, about half of our growth was from organic means. This year, we had anticipated probably be about the same, Luke, as we look for the full year, it's about half of the growth could be from organic sources.

Yes, sorry about that. Yes, we had the full green light. In fact, the graduation rate in Paramus is over 90% for the NCLEX exams. So as a company, we average, frankly, at 89.5% or 89.4% last year. So we're safely well above the benchmark and there's no other restrictions or notification that we need to give the state.

What analysts pressed on

Analysts expressed concerns regarding the sustainability of student start growth and the potential impact of rising costs on margins. There were questions about the company's ability to maintain profitability in new campus operations.

Main topics on the call

• Revenue Growth — Lincoln reported a 22.5% increase in revenue to $144 million, marking three consecutive quarters of double-digit growth. CEO Scott Shaw noted, "Our financial performance as well as the current trends in our business are ...
• Student Start Growth — Student starts grew by 19.5%, with over 5,500 new students enrolled across 22 campuses. This growth was attributed to both organic operations and new campus openings, reflecting strong demand for skilled trades education...
• Adjusted EBITDA Improvement — Adjusted EBITDA increased by 84.7% to $15.5 million, indicating improved operational efficiency. CFO Brian Meyers stated, "This combination led to strong growth across all our key metrics and increased profitability."
• Guidance Increase — Management raised their full-year guidance, now projecting revenue of $590 million to $600 million and adjusted EBITDA of $76 million to $80 million. This reflects confidence in sustained demand and operational momentum.

Read the full Lincoln Educational Services Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 37 Lincoln Educational Services Corporation earnings call transcripts on record, spanning February 26, 2020 to August 10, 2026. Based on this history, Lincoln Educational Services Corporation reports quarterly. The most recent call on file is dated August 10, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

LINC

Exchange

NasdaqGS

Country

US

Sector

Consumer Discretionary

Industry

Diversified Consumer Services

Calls on record

37

First call

February 26, 2020

Most recent

August 10, 2026

Reporting cadence

quarterly