Lincoln Educational Services — Q3 2026 Earnings Summary

Lincoln Educational Services reported a 14.2% increase in student starts to 7,362 for the third quarter of 2026, driving revenue growth of 12.6% to $159.2 million. Adjusted EBITDA rose 30.8% to $17.4 million, while net income increased 24.1% to $4.7 million during the period. The company expanded its liquidity to approximately $136 million and repurchased over 871,000 shares of common stock for $21.0 million. Additionally, Lincoln raised its full-year 2026 revenue guidance to a range of $600.0 million to $605.0 million and reiterated its student start growth guidance of 10% to 12%.