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Lincoln Educational Services (LINC) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Lincoln Educational Services (LINC) Q2 2026 earnings results →
Q2 2026 Revenue up 22% year over year to $143M · 1¢ of every $1 of revenue kept as net profit · operating margin 2.3%
Lincoln Educational Services made $143M in Q2 2026 (+22% Y/Y). Operating margin 2.3%, net earnings $1.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $142.6M in Q2 2026, up 22% year over year and down 1% from the previous quarter.
Operating profit was $3.3M, a 2.3% margin (down 0.1 points year over year). Of the extra revenue versus Q2 2025, 2% reached operating profit, below the 2% margin then. Total costs grew 23% against revenue growth of 22%. The fastest-growing cost line was Cost of revenue (+27%). Net earnings were $1.9M, up 25% year over year. The effective tax rate was 13.9%.
Operating cash flow was $22.1M (up 7280% year over year), 1134% of net earnings. Non-cash charges added back $7.4M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items added $11.1M. Capital expenditures of $14.5M left free cash flow of $7.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $143M | +22% | 2.3% | $1.9M | $22.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $144M | +22% | 4.5% | $4.4M | $4.6M |
| Q4 2025 | 10-K | Mar 2, 2026 | $143M | +20% | 12.4% | $12.7M | $43.5M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $141M | +24% | 4.4% | $3.8M | $23.9M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $116M | +13% | 2.5% | $1.6M | $299K |
| Q1 2025 | 10-Q | May 12, 2025 | $118M | +14% | 2.9% | $1.9M | −$8.4M |
| Q4 2024 | 10-K | Mar 4, 2025 | $119M | +16% | 9.2% | $6.8M | $30.3M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Lincoln Educational Services
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education helping to provide solutions to America’s skills gap. Lincoln offers career-oriented programs to recent high school graduates and working adults in four principal areas of study: skilled trades, automotive, health sciences and information technology. Lincoln has provided the workforce with skilled technicians since its inception in 1946 and currently operates 22 campuses in 12 states under the brands Lincoln Technical Institute, Lincoln College of Technology and Nashville Auto Diesel College. The Company was incorporated in New Jersey in 2003 as the successor-in-interest to various acquired schools including Lincoln Technical Institute, Inc. which opened its first campus in Newark, New Jersey in 1946. For more information, please go to www.lincolntech.edu .
In its own words, from its 8-K, filed Aug 10, 2026.
Lincoln Educational Services against its Services-Educational Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +22% against the peers' median +4%. Operating margin: 2.3% against the peers' median 12.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LINC Lincoln Educational Services | Q2 2026 | $143M | +22% | 2.3% |
| GHC Graham Holdings | Q3 2026 | $1.3B | +4% | 6.4% |
| BSAA Best SPAC I Acquisition | Q1 2026 | $1.2B | — | 0.0% |
| LRN Stride | Q1 FY27 | $639M | +3% | 13.2% |
| CVSA Covista | Q1 FY27 | $512M | +11% | 19.2% |
| LAUR Laureate Education | Q3 2026 | $485M | +21% | 24.6% |
| STRA Strategic Education | Q3 2026 | $325M | +2% | -26.9% |
| LOPE Grand Canyon Education | Q3 2026 | $267M | +2% | 19.3% |
| PXED Phoenix Education Partners | Q4 FY26 | $261M | +1% | 12.0% |
Source: Lincoln Educational Services 10-Q on SEC EDGAR · CIK 1286613 · Services-Educational Services
13F: who owns LINC and who is buying
More on LINC
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results