Lincoln Educational Services Projects Student Start Growth of Approximately 15% During First Quarter 2024
March 19 2024 - 8:00AM
Lincoln Educational Services Corporation (Nasdaq: LINC), which is
hosting its first Investor Day today at its new East Point campus
in Georgia, expects to continue its strong business momentum during
the first quarter ending March 31, 2024. Student start growth is
projected to significantly improve from the prior year, with growth
of approximately 15.0% compared to 6.4%, excluding the transitional
segment in 2022.
“Our team continues to successfully execute the
Company’s transformative growth strategies as the interest in
skilled trade careers continues to grow,” said Scott Shaw,
President and CEO. “Our expected strong start growth in Q1 builds
on the momentum we generated during 2023, which led to increased
student starts, student retention, graduation and placement rates
with employers as well as the achievement of all of our financial
guidance objectives during the year. During today’s Investor Day we
look forward to reviewing our strategies for 2024 and beyond while
showcasing our new East Point campus.”
The Company’s Investor Day presentations start at 12:00 p.m. ET.
The live webcast of the presentations along with a
question-and-answer session with the Company’s executive leaders
and guests will focus on Lincoln’s strategic priorities and growth
initiatives. To access the live webcast of the Investor Day call,
please go to the investor relations section of Lincoln’s website at
lincolntech.edu. Participants may also register at: Lincoln
Educational Services Investor Day .
An archived version of the webcast and
presentation will be accessible for 90 days at lincolntech.edu.
The Company plans to report financial results for the three
months ending March 31, 2024 on May 6, 2024.
ABOUT LINCOLN EDUCATIONAL SERVICES CORPORATION
Lincoln Educational Services Corporation is a
leading provider of diversified career-oriented post-secondary
education helping to provide solutions to America’s skills gap.
Lincoln offers career-oriented programs to recent high school
graduates and working adults in five principal areas of study:
automotive technology, health sciences, skilled trades, business
and information technology, and hospitality services. Lincoln has
provided the workforce with skilled technicians since its inception
in 1946 and currently operates 22 campuses in 13 states under 4
brands: Lincoln College of Technology, Lincoln Technical Institute,
Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts
and Sciences. For more information, please go to
www.lincolntech.edu.
FORWARD-LOOKING
STATEMENTSStatements in this press release and in oral
statements made from time to time by representatives of Lincoln
Educational Services Corporation regarding Lincoln’s business that
are not historical facts, including those made in a conference
call, may be “forward-looking statements” as that term is defined
in the federal securities law. The words “may,” “will,” “expect,”
“believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,”
and “continue,” and their opposites and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements are based on information available at the time those
statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
not necessarily be accurate indications of the times at, or by,
which such performance or results will be achieved, if at all.
Generally, these statements relate to business plans or strategies
and projections involving anticipated revenues, earnings, or other
aspects of the Company’s operating results. Such forward-looking
statements include the Company’s current belief that it is taking
appropriate steps regarding the pandemic and that student growth
will continue. The Company cautions you that these statements
concern current expectations about the Company’s future performance
or events and are subject to a number of uncertainties, risks, and
other influences, many of which are beyond the Company’s control,
that may influence the accuracy of the statements and the projects
upon which the statements are based including, without limitation,
impacts related to the COVID-19 pandemic or other epidemics or
pandemics; our failure to comply with the extensive regulatory
framework applicable to our industry or our failure to obtain
timely regulatory approvals in connection with acquisitions or a
change of control of our Company; our success in updating and
expanding the content of existing programs and developing new
programs for our students in a cost-effective manner or on a timely
basis; risks associated with changes in applicable federal laws and
regulations; uncertainties regarding our ability to comply with
federal laws and regulations, such as the 90/10 rule and prescribed
cohort default rates; risks associated with the opening of new
campuses; risks associated with integration of acquired schools;
industry competition; our ability to execute our growth strategies;
conditions and trends in our industry; general economic conditions;
and other factors discussed in the “Risk Factors” section of our
Annual Reports and Quarterly Reports filed with the Securities and
Exchange Commission. All forward-looking statements are
qualified in their entirety by this cautionary statement, and
Lincoln undertakes no obligation to publicly revise or update any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date hereof.
Contact:
Lincoln Educational Services
Corporation
Brian Meyers,
CFO973-736-9340bmeyers@lincolntech.edu
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