Lincoln Educational Services posted Q2 revenue up 22.4% to USD 142.6 million; net income rose to USD 1.95 million.
Adjusted EBITDA (non-GAAP) climbed 42.4% to USD 12.7 million; operating income increased 15.1% to USD 3.31 million.
Net cash from operating activities improved to USD 22.1 million generated; total liquidity was about USD 143 million at June 30.
Ending student population rose 10.4% to about 18,900; student starts increased 1%, with fewer enrolled students attending the first day.
Guidance and capital spending
Reiterated full-year guidance for revenue of USD 590 million-USD 600 million; raised capital expenditure outlook to USD 95 million-USD 100 million after the USD 18.8 million Melrose Park purchase.
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