Lincoln Educational Services Corporation: Q4 and Fiscal Year 2024 Results and Business Developments
On February 24, 2025, Lincoln Educational Services Corporation (NASDAQ: LINC) unveiled its financial and operational data for the fourth quarter and full year that ended on December 31, 2024. Additionally, the company shared some recent business developments.
Financial Highlights
For the quarter ended December 31, 2024, Lincoln Educational Services Corporation reported net income of $14.5 million or $0.45 per diluted share, compared to a net loss of $1.9 million or $0.06 per diluted share in the same period last year. The company’s revenue for the quarter was $183.6 million, up 11.2% from $165.6 million in the fourth quarter of 2023.
For the full year 2024, the corporation reported net income of $38.3 million or $1.18 per diluted share, compared to net income of $28.8 million or $0.92 per diluted share in 2023. Total revenue for the year was $653.3 million, up 10.5% from $589.6 million in 2023.
Operational Highlights
Lincoln Educational Services Corporation experienced growth in several key areas during 2024. The company’s enrollment increased by 5.6% to 13,843 students as of December 31, 2024, from 13,131 students at the same time in 2023. The corporation also reported a 7.5% increase in graduates, with 8,337 graduating in 2024 compared to 7,818 in 2023. Additionally, Lincoln saw a 10.3% increase in program completions, with 9,588 in 2024 versus 8,686 in 2023.
Business Developments
Lincoln Educational Services Corporation announced that it has expanded its partnership with IBM to offer a new data analytics program. This program, which will be available at Lincoln’s campuses and online, will provide students with the skills they need to analyze and interpret data using IBM’s technology. The corporation also revealed that it has opened a new campus in Orlando, Florida, which will offer programs in healthcare, automotive technology, and skilled trades.
Impact on Individuals
The strong financial performance and operational growth of Lincoln Educational Services Corporation could lead to more opportunities for individuals seeking to further their education and career development. The new data analytics program, for example, could provide students with valuable skills that are in high demand in today’s job market. Additionally, the opening of a new campus in Orlando could offer more accessible education options for people in that area.
Impact on the World
The expansion of Lincoln Educational Services Corporation could have a positive impact on the workforce and the economy as a whole. With more people gaining the skills they need to enter the workforce, there could be a reduction in unemployment and an increase in productivity. Additionally, the corporation’s focus on providing education in fields with high demand, such as healthcare and technology, could help to address labor shortages in those industries.
Conclusion
Lincoln Educational Services Corporation’s strong financial performance and operational growth in 2024, as well as its recent business developments, could lead to significant benefits for individuals and the world. The new data analytics program and the opening of a new campus in Orlando are just a few examples of how the corporation is addressing the evolving needs of the workforce and providing accessible education options. As the demand for skilled workers continues to grow, Lincoln Educational Services Corporation is well-positioned to help individuals meet that demand and contribute to a stronger economy.
- Lincoln Educational Services Corporation reported strong financial results for Q4 and FY 2024
- Operational growth included increased enrollment, graduates, and program completions
- New data analytics program with IBM and a new campus in Orlando were announced
- Individuals could benefit from more education and career opportunities
- The world could see a stronger economy and workforce with less unemployment and increased productivity
