---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-028645"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2022-08-08T23:59:59+00:00"
generated_at: "2026-06-24T02:37:49.596621+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational Q2 revenue $82.1M (+2.1%), lowers FY2022 guidance as student start conversion lags

## Summary
- Revenue $82.1M (+2.1% YoY); student starts up 4.0%, but conversion rate lower than expected.
- Adjusted EBITDA $2.4M; net income not disclosed; cash from operations $4.4M; cash $67.0M debt free.
- FY2022 guidance cut: revenue $340-350M (prev ~$350M?), Adjusted EBITDA $25-30M, net income $10-15M.
- Announced new Atlanta campus (55k sq ft) expected to open Q3 2023, $12M capex, $20M annual revenue at maturity.
- Repurchased 414,963 shares for $2.5M under $30M buyback program; sold Suffield, CT property for $2.4M net.

## SEC filing metadata
- accession: 0001140361-22-028645
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2022-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1286613/000114036122028645/0001140361-22-028645-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036122028645/brhc10040474_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-028645
- JSON: https://secwatch.observer/filing/0001140361-22-028645.json
- Plain text: https://secwatch.observer/filing/0001140361-22-028645.txt

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