Lincoln Educational Q2 revenue rises 22.4% to $142.6 million; 2026 guidance reiterated
Lincoln Educational Services reported second-quarter 2026 revenue up 22.4% to $142.6 million and net income of $1.9 million, up from $1.6 million a year earlier, and reiterated its full-year 2026 guidance for revenue, adjusted EBITDA, net income and student starts. Student starts grew only 1% in the quarter, and management said fewer enrolled students than expected attended the first day of class, while it raised capital expenditure guidance by about $25 million for a new Suitland, Maryland campus and the Melrose Park, Illinois property purchase.
Key points
- Q2 revenue was $142.6 million versus $116.5 million; diluted EPS was $0.06 versus $0.05
- Q2 student starts rose 1%; full-year student start growth guidance of 10% to 14% was reiterated
- Full-year 2026 guidance: revenue $590.0 million to $600.0 million; adjusted EBITDA $76.0 million to $80.0 million
- Capital expenditure guidance was increased by approximately $25 million to $95.0 million to $100.0 million
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 10, 2026.
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