Lincoln Educational Services Corporation (NASDAQ:LINC) Q1 2024 Earnings Call Transcript

Scott Shaw: Sure. So it is an interesting and exciting opportunity. And frankly, we’ve been looking for opportunities like this for years. I mean, we interact with a lot of employers, both at the local and national level. And we had been, frankly, working with a number of people in the shipping area, particularly around trailers that are pulled by tractor trailers for repair programs. And we’ve been working, frankly, with another group and developed a program for them but it never materialized. And then in those conversations and being part of the industry and reaching out to others within the industry, we then secure this opportunity. And so as I mentioned, most of our opportunities are in connection with our students or enhancing the curriculum that we have.

In this case, we’re basically able to take a form of curriculum that we created and then bring it to the employer to upskill their employees. And so what we’ll be doing is basically establishing training sites at four or five locations that they’ve asked us to provide for them, hire the staff, train them, and then use our curriculum to upskill their employees. And obviously, that gives us a lot more operating leverage who is now we are open to doing, I guess, trainings beyond, let’s say, the 14,000 students that we have today, and we are actively talking with, frankly, a number of other organizations involved in logistics and shipping to provide similar type of training.

Operator: Thank you. I’m showing no further questions at this time. I would now like to turn it back to Scott Shaw for closing remarks.

Scott Shaw: Thank you. Thanks, everyone for attending today’s call. We hope to see you at one of our many investor conferences and non-deal roadshow events over the next few months and appreciate your continued interest in our company. We look forward to updating you on our progress in August and wish you all a good day. Thanks, everyone.

Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.