Shares of Lincoln Educational Services Corp. (NASDAQ: LINC) surged 8.09% in pre-market trading on Monday, driven by the company's better-than-expected third-quarter earnings results.
The for-profit education company reported Q3 2024 GAAP earnings per share of $0.13, outpacing the consensus analyst estimate of $0.09 by a significant 44.44%. Revenue for the quarter also exceeded expectations, coming in at $114.41 million compared to the $110.78 million estimate, an upside surprise of 3.28%.
Lincoln Educational's strong earnings performance extended across multiple metrics, with the company reporting Q3 net income of $3.953 million, adjusted EBITDA of $10.236 million, operating income of $5.822 million, and pretax profit of $5.627 million – all surpassing analyst projections.
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