secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001140361-22-040228
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational Q3 revenue $91.8M, net income $3.5M; reiterates FY guidance
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- Q3 revenue $91.8M (+3.1% YoY); net income $3.5M, EPS $0.10; adjusted EBITDA $7.4M.
- Student starts declined 9.2% while average revenue per student rose 5.9%; full-year revenue guidance reaffirmed at $340-350M.
- Board approved closing Somerville, MA campus with estimated $2.0M costs; teach-out for ~300 students ending by Dec 2023.
- Repurchased 668,440 shares for $4.2M in Q3; terminated credit agreement (no outstanding debt); cash $69.6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122040228/0001140361-22-040228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122040228/brhc10043755_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-040228

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