Lincoln Educational Q1 revenue up 22.5% to $144M; net income doubles; raises FY 2026 guidance

LINCOLN EDUCATIONAL SERVICES CORP

2026-Q1 EPS reported $0.14 vs consensus $0.12 ▲ beat (+21.1%)

Revenue $144.0M (+22.5% YoY); net income $4.4M ($0.14 EPS) vs $1.9M ($0.06 EPS).
Adjusted EBITDA $15.5M (+85%); student starts 5,500 (+19.5%); ending pop. 18,702 (+17.6%).
Net cash from ops improved to $4.6M generated vs ($8.4M) used a year ago.
Total liquidity ~$72M as of March 31, 2026.
Full-year 2026 guidance raised reflecting strong Q1 and current trends.

item 2.02item 9.01

Source: SEC EDGAR

accession 0001140361-26-020531

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