LINC - Lincoln Educational Services beats Q2 top and bottom line estimates; raises FY23 outlook

2023-08-07 08:06:05 ET

• Lincoln Educational Services press release ( NASDAQ: LINC ): Q2 GAAP EPS of $0.57 beats by $0.58 .
• Revenue of $88.65M (+7.9% Y/Y) beats by $3.93M .
• New student starts increased 17.9%.
• Adjusted EBITDA of $2.4 million.
• Total liquidity of $95 million; No debt outstanding.
• Raising outlook for revenues and earnings for the full year and refining outlook for start growth to the upper end of previous range: The revised guidance is as follows:
• • Revenue in the range of $360 million to $370 million vs. consensus of $360.07M.
  • Adjusted EBITDA in the range of $22 million to $26 million
  • Adjusted Net income* in the range of $10 million to $13 million
  • Student start growth in the range of 6% to 10%

  The outlook for capital expenditures in the range of $35 million to $40 million remains unchanged.

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