---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-21-036924"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2021-11-08T23:59:59+00:00"
generated_at: "2026-06-28T11:18:33.363211+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Ed Q3 rev $89.1M (+13%), operating income up 49.6%; closes sale-leaseback, retires all debt

## Summary
- Revenue $89.1M (+13% YoY), operating income $5.7M (+49.6%), net income $3.8M ($0.11 diluted EPS) vs $3.5M ($0.08).
- Student starts 5,430 (flat YoY); ending student population 14,000, up 6.4% YoY.
- Closed sale-leaseback of Denver and Grand Prairie properties; net proceeds $28.5M used to retire all outstanding debt.
- Full year 2021 guidance: revenue growth 12-14%, adjusted EBITDA $35-37M, pre-tax income $25-27M.
- Transportation & Skilled Trades segment revenue up 14.3%; Healthcare & Other Professions up 9.8%.

## SEC filing metadata
- accession: 0001140361-21-036924
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2021-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036121036924/0001140361-21-036924-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036121036924/brhc10030496_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-21-036924
- JSON: https://secwatch.observer/filing/0001140361-21-036924.json
- Plain text: https://secwatch.observer/filing/0001140361-21-036924.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.