secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001140361-22-028645
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122028645/0001140361-22-028645-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122028645/brhc10040474_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-028645

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