Filing Flows › Lincoln Educational Services (LINC) › Q4 2024
Lincoln Educational Services (LINC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 4, 2025
Lincoln Educational Services (LINC) reported revenue of $119M for the fourth quarter 2024 (Q4 2024), +16% from a year earlier and +4% from the quarter before. Operating margin was 9.2%, net earnings $6.8M (5.7% of revenue).
Lincoln Educational Services, Q4 2024: revenue $119M (+16% year over year), operating margin 9.2%, net earnings $6.8M, operating cash flow $30.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $119M | +4% | +16% |
| Operating profit | $10.9M | +88% | +22% |
| Net earnings | $6.8M | +73% | +0.6% |
| Operating cash flow | $30.3M | +440% | +38% |
| Free cash flow | $5.5M | — | -44% |
What changed
Revenue was $119.4M in Q4 2024, up 16% year over year and up 4% from the previous quarter. Campus Operations was the largest line at 94% of revenue.
Operating profit was $10.9M, a 9.2% margin (up 0.4 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, above the 9% margin then. Total costs grew 16% against revenue growth of 16%. The fastest-growing cost line was SG&A (+18%). Net earnings were $6.8M, up 1% year over year. The effective tax rate was 35.3%.
Operating cash flow was $30.3M (up 38% year over year), 443% of net earnings. Non-cash charges added back $3.0M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $19.2M. Capital expenditures of $24.8M left free cash flow of $5.5M.
Questions
What was Lincoln Educational Services' revenue in the fourth quarter 2024?
Lincoln Educational Services (LINC) reported revenue of $119M for the fourth quarter 2024 (Q4 2024), +16% from a year earlier and +4% from the quarter before.
Was Lincoln Educational Services profitable in the fourth quarter 2024?
Operating profit was $10.9M (9.2% of revenue) and net earnings $6.8M.