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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Lincoln Educational Services
Lincoln Educational Services (LINC) investor relations material
Lincoln Educational Services Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 starts rose 14.2% to 7,362; revenue increased 12.6% to $159.2 million, Adjusted EBITDA grew 30.8% to $17.4 million, and net income rose 24.1% to $4.7 million.
Average student population increased 10.9%; operating efficiencies and improved conversions supported higher earnings.
FY2026 revenue guidance increased to $600–$605 million, while long-term 2030 objectives remain $850 million revenue and $150 million EBITDA.
Financial highlights
Q3 revenue was $159.2 million vs. $141.4 million; operating income was $7.7 million vs. $6.3 million, and net income was $4.7 million vs. $3.8 million.
Q3 diluted EPS was $0.15 vs. $0.12; operating cash flow increased to $34.9 million from $23.9 million.
9M revenue rose 18.7% to $445.7 million; net income was $11.0 million vs. $7.3 million.
9M operating cash flow increased to $61.5 million from $15.8 million; capital expenditures were $67.4 million.
Outlook and guidance
FY2026 revenue guidance rose to $600–$605 million from $590–$600 million; student-start growth guidance narrowed to 10%–12%.
Adjusted EBITDA guidance remains $76–$80 million, net income $23–$26 million, diluted EPS $0.74–$0.83, and capital expenditures $95–$100 million.
Guidance includes ~$10 million of new-campus and strategic-growth losses; 2026 Adjusted EBITDA no longer excludes pre-opening and first-year campus losses.
Rowlett programs are expected to begin in H1 2027, Suitland in Q4 2027, and Tempe in Q1 2028; future capital spending is expected to use operating cash flow, cash and credit availability.
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Latest events from Lincoln Educational Services
- Enrollment growth lifted revenue 14.4%; sale-leasebacks strengthened cash to $83.3M.LINC
Q4 2021 - Revenue grew, earnings fell, and investment is geared toward margin gains from 2024.LINCQ4 2022
- Student growth, strong liquidity and campus investment underpin FY24 expansion.LINCQ4 2023
- Record FY2010 results met regulatory headwinds and planned admissions changes.LINCQ4 2010
- Record FY09 growth and margins met rising enrollment, credit and regulatory risks.LINCQ4 2009
- Enrollment-led growth lifted FY08 revenue 15% and operating income to $35.6m.LINCQ4 2008
- Record revenue growth masked weaker earnings as organic enrollment softened and investment costs rose.LINCQ4 2006
- Record FY05 earnings and expansion gains met a softer enrollment and regulatory backdrop.LINCQ4 2005
- Q2 2026 revenue up 22.4%, adjusted EBITDA up 42.4%, with guidance and expansion reaffirmed.LINCQ2 2026
Next Lincoln Educational Services earnings date
18th Annual Southwest IDEAS Conference19 Nov, 2026
Lincoln Educational Services
Next Lincoln Educational Services earnings date
18th Annual Southwest IDEAS Conference19 Nov, 2026
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Frequently asked questions
Lincoln Educational Services Corporation provides career-focused education and training programs. The company operates a network of campuses offering programs in fields such as automotive technology, skilled trades, healthcare, and information technology. Lincoln Educational Services caters to individuals seeking to develop technical skills and pursue careers in high-demand industries. The company is headquartered in Parsippany, New Jersey, and its shares are listed on the NASDAQ.