Lincoln Educational Services Q2 revenue $116.5M (+13.2%), raises FY2025 guidance

LINCOLN EDUCATIONAL SERVICES CORP

2025-Q2 EPS reported $0.11 vs consensus -$0.01 ▲ beat (+1024.4%)

Revenue $116.5M (+13.2% YoY); net income $1.6M vs $0.7M net loss in prior year.
Adjusted EBITDA $10.5M (+68.4%); student starts up 19.5% (21.8% ex-Transitional).
Full-year 2025 revenue guidance raised to $490M-$500M; adjusted EBITDA to $60M-$65M.
Student starts growth guidance increased to 12%-15%; capital expenditures to $75M-$80M.
Campus development progress: Houston enrolling, Levittown opened, Nashville exceeding expectations.

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