NASDAQ$LINC
Lincoln Educational Services Corporation · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Lincoln Educational Services returned to student start growth, achieved strong financial results, and graduation rates reached a new company high.
Lincoln Educational Services Corporation reported strong Q4 2022 results, with revenue and Adjusted EBITDA growth compared to the previous year. Student retention and placement rates continued positive trends, and graduation rates reached a new company high. The company is investing in a new hybrid teaching model and program expansions to accelerate growth.
- Lincoln returned to student start growth during the fourth quarter.
- The company achieved strong financial results in its most profitable quarter.
- Student retention and placement rates continued their positive trends.
- Graduation rates reached a new company high.
Headline financials
Revenue & EPS history
Lincoln Tech · Revenue · Quarterly
$91.8M
Forward guidance
Lincoln expects modest revenue growth for the full year 2023, driven by an increase in new student starts and higher revenue per student. Profitability is expected to be depressed due to investments in the hybrid teaching model, centralization of financial aid, and the launch of new programs. Adjusted EBITDA is forecasted to be $19 - $24 million for 2023.
Tailwinds
- Continued strong demand for programs
- Efficiency and growth from investments
- Early contribution from new Atlanta, GA location
- Adjusted EBITDA will approximately double from 2022 levels by 2025
- Evaluating additional locations to open five new campuses in the next five years
Headwinds
- Increased instructional costs over the short term
- Extending investment in centralizing financial aid process into 2023
- Incurring expenses associated with the initial launch of new programs
- Modest revenue growth for the full year
- Profitability will be depressed
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2022
+3.0%
Avg return
Earnings day
+6.4%
Avg return
5 days after
+9.7%
Avg return
30 days after
60%
39 / 65 earnings
Positive
+61.0%
Q3 2015
Best reaction
-25.7%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.5% | +9.6% | — | |
| Q4 2025 | +4.0% | +20.8% | +38.7% | |
| Q3 2025 | +12.9% | +17.2% | +25.6% | |
| Q1 2025 | +1.9% | +3.7% | +3.4% | |
| Q4 2024 | +15.3% | +14.0% | -3.0% | |
| Q3 2024 | +4.3% | -6.2% | +0.9% | |
| Q2 2024 | +2.8% | +1.9% | -2.1% | |
| Q1 2024 | +7.3% | +9.5% | -1.1% | |
| Q4 2023 | +4.4% | +2.7% | +6.6% | |
| Q3 2023 | +6.4% | +11.5% | +7.1% | |
| Q2 2023 | +24.0% | +22.2% | +17.5% | |
| Q1 2023 | +3.1% | +12.6% | +17.6% | |
| Q4 2022 | -2.7% | +3.0% | -6.5% | |
| Q3 2022 | +14.3% | +10.6% | +5.9% | |
| Q2 2022 | -13.0% | -15.7% | -12.4% | |
| Q1 2022 | -15.6% | -19.0% | -5.4% | |
| Q4 2021 | +0.8% | -0.8% | -5.0% | |
| Q3 2021 | +3.7% | +3.7% | +9.4% | |
| Q2 2021 | -6.9% | -3.2% | -14.9% | |
| Q1 2021 | +3.7% | +4.4% | +8.7% | |
| Q4 2020 | -1.3% | -1.2% | +7.6% | |
| Q3 2020 | +6.7% | +9.2% | +10.4% | |
| Q2 2020 | +25.5% | +41.0% | +29.6% | |
| Q1 2020 | +9.8% | +9.0% | +65.9% | |
| Q4 2019 | +14.9% | +15.4% | -5.0% | |
| Q3 2019 | -7.2% | +1.1% | +32.6% | |
| Q2 2019 | -7.0% | +1.1% | +15.6% | |
| Q1 2019 | +4.6% | -5.9% | -12.5% | |
| Q4 2018 | -0.9% | -8.7% | -3.4% | |
| Q3 2018 | +11.5% | +10.7% | +8.6% | |
| Q2 2018 | +22.2% | +17.2% | +26.1% | |
| Q1 2018 | -7.4% | -11.8% | -10.8% | |
| Q4 2017 | +25.0% | +20.4% | +30.9% | |
| Q3 2017 | +11.7% | +11.3% | +3.8% | |
| Q2 2017 | -3.9% | -11.4% | -19.0% | |
| Q1 2017 | +6.3% | +15.7% | +19.9% | |
| Q4 2016 | +15.5% | +19.3% | +50.3% | |
| Q3 2016 | +4.4% | +9.4% | +26.9% | |
| Q2 2016 | -5.3% | +4.3% | +0.5% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | +6.7% | — | — | |
| Q3 2015 | +61.0% | — | — | |
| Q2 2015 | -25.7% | — | — | |
| Q1 2015 | -3.0% | — | — | |
| Q4 2014 | -2.5% | — | — | |
| Q3 2014 | +13.9% | — | — | |
| Q2 2014 | -25.6% | — | — | |
| Q1 2014 | +3.3% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | +6.6% | — | — | |
| Q2 2013 | -4.0% | — | — | |
| Q1 2013 | +9.2% | — | — | |
| Q4 2011 | +4.3% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q3 2012 | +12.4% | — | — | |
| Q2 2012 | -17.9% | — | — | |
| Q1 2011 | -2.1% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2009 | +2.5% | — | — | |
| Q3 2010 | -4.5% | — | — | |
| Q3 2011 | -4.5% | — | — | |
| Q2 2010 | -13.5% | — | — | |
| Q4 2010 | -13.5% | — | — | |
| Q2 2011 | -13.5% | — | — | |
| Q1 2010 | +1.1% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro