The following is a summary of the Lincoln Educational Services Corporation (LINC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Lincoln Educational Services reported a revenue of $114.4 million in Q3, an increase of nearly 15% year-over-year.

• Adjusted EBITDA grew 67% to $10.2 million in the third quarter.

• The company has raised its full-year revenue guidance to between $430 million and $435 million and adjusted EBITDA to between $41 million and $43 million.

Business Progress:

• Continued execution of key growth initiatives including new campus development, program replication, and the rollout of Lincoln 10.0 hybrid teaching model.

• Successfully opened HVAC programs at Morristown and Shelton campuses and expanded welding at Melrose Park.

• Announced new corporate partnerships with Hyundai Motor of America, Genesis Motor of America, and the expansion of the Tesla training center.

• Lincoln Tech's focus remains on skilled trades and nursing, providing high ROI on education for middle-skill jobs.

Opportunities:

• Capitalizing on the national trend towards skilled trades education as alternatives to traditional four-year degrees, evidenced by increased lead generation and enrollment numbers.

Risks:

• Regulatory challenges, particularly in New York state, could impact operations, as mentioned regarding the new Long Island campus.

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