secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2023-02-27T23:59:59+00:00
Accession:  0001019056-23-000162
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational Q4 revenue $91.8M (+4.5%); guides 2023 Adj. EBITDA $19-24M; extends buyback
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- Q4 revenue $91.8M (+4.5% YoY); Adj. EBITDA $15.7M (+7.4%); student starts +2.4%.
- FY 2023 guidance: revenue $345-360M, Adj. EBITDA $19-24M, capex $35-40M.
- Board expands to 10; appoints Sylvia Jean Young; director Harbour not standing for re-election.
- Share repurchase extended: additional $10M authorized, total remaining $30.6M through May 2024.
- Converted Series A preferred to common, saving $1.2M annual dividends; Nashville campus sale expected Q2 2023 for ~$35M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000101905623000162/0001019056-23-000162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000101905623000162/lincoln_8k.htm
  HTML page:      https://secwatch.observer/filing/0001019056-23-000162

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer