NASDAQ$LINC

Lincoln Educational Services Corporation · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Lincoln Educational reported Q4 2025 revenue of $142.9M (+19.7% YoY), exceeding guidance.

Lincoln Educational delivered Q4 revenue of $142.9M, up 19.7% (21.4% excluding transitional segment), beating guidance. The career-education provider cited strong enrollment and program demand. Management forecast continued growth for 2026 and scheduled an investor day for March 2026.

  • Q4 revenue $142.9M (+19.7% YoY).
  • Results exceeded financial guidance.
  • Ex-transitional growth 21.4%.
  • Investor day set for March 19, 2026.

Headline financials

Total Revenue

$143M

Previous: $114M+24.9%
EPS (adj)

$0.40

Previous: $0.22+81.8%
Student Starts

3.9K

No prior period
Average Population

18.2K

No prior period
End of Period Population

17.0K

No prior period
Net Income

$12.7M

Previous: $3.95M+221.3%
Operating Income

$17.7M

Previous: $3.02M+488.1%

Revenue & EPS history

Lincoln Tech · Revenue · Quarterly

$143M

Q4 2025+24.9%vs Q4 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

Management guided continued strong growth for 2026 at the February conference call.

Tailwinds

  • Enrollment momentum in skilled trades programs.
  • Campus expansion in Nashville and other markets.
  • Demand for career education remains robust.

Headwinds

  • Regulatory oversight of for-profit education.
  • Student placement and outcomes metrics closely watched.
  • Transitional segment wind-down affects comparables.

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 2025

Historical avgQ4 2025

+3.0%

Avg return

Earnings day

+6.4%

Avg return

5 days after

+9.6%

Avg return

30 days after

60%

39 / 65 earnings

Positive

+61.0%

Q3 2015

Best reaction

-25.7%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+10.5%+9.6%+6.0%
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 2011-4.5%
Q3 2010-4.5%
Q4 2010-13.5%
Q2 2011-13.5%
Q2 2010-13.5%
Q1 2010+1.1%

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