Lincoln Educational Q4 revenue up 16.4% to $119.4M; guides 2025 revenue $480-490M

LINCOLN EDUCATIONAL SERVICES CORP

2024-FY EPS reported $0.32 revenue$440,064,000

Q4 net income $6.8M, adjusted EBITDA $19.2M; full-year revenue $440.1M (+16.4% YoY).
Student starts grew 9.6% in Q4 and 15.2% for the full year; end-of-quarter population up 14.1%.
Full-year 2025 guidance: revenue $480-490M, adjusted EBITDA $55-60M, net income $8-13M.
Sale of Summerlin (Las Vegas) campus completed Jan 1, 2025; recorded $1.2M loss on sale in Q4.
Lease signed for new Hicksville, NY campus (~65,000 sq ft); expected to open May 2025.

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