Lincoln Educational Q4 revenue $142.9M (+19.7%), net income $12.7M; FY2026 guidance revenue $580-590M

LINCOLN EDUCATIONAL SERVICES CORP

2025-FY EPS reported $0.64 vs consensus $0.36 ▲ beat (+78.2%)

Q4 revenue $142.9M, up 19.7% YoY; net income $12.7M ($0.40 EPS) vs $6.8M ($0.22 EPS) a year ago.
Full year 2025 revenue $518.2M (+17.8%), net income $20.0M (+102.2%), adjusted EBITDA $67.1M (+58.7%).
FY2026 guidance: revenue $580-590M (13% YoY midpoint), adjusted EBITDA $72-76M (30% YoY midpoint).
Student starts grew 15.7% ex-Transitional in Q4; 2026 student starts growth forecast 8-13%.
Investor Day scheduled for March 19, 2026, at new Nashville campus to discuss five-year financial targets.

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