Lincoln Ed Services Q3 revenue up 15% to $114.4M; raises 2024 guidance

LINCOLN EDUCATIONAL SERVICES CORP

2024-Q3 EPS reported $0.10 revenue$320,691,000

Revenue $114.4M (+15% YoY); net income $4.0M; adjusted EBITDA $10.2M (+67% YoY).
Student starts grew 21.1%; quarter-end student population up 13.3%.
Raised 2024 guidance: revenue $430-435M, adjusted EBITDA $41-43M, student start growth 13-15%.
East Point, GA campus generated $5.0M revenue since March launch; Q3 EBITDA positive.
Corporate partnerships expanded; plans to extend hybrid platform to nursing programs over 18 months.

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