---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-023346"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T12:22:51.096827+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational Q1 revenue up 6.9% to $86.4M; raises full-year guidance

## Summary
- Q1 revenue $86.4M, +6.9% YoY; adjusted EBITDA $2.2M; new student starts +6.4%.
- Raising FY2023 guidance: revenue $355-365M, adj. EBITDA $21-25M, adj. net income $9-12M.
- Adopted CECL, reducing retained earnings by $7.9M net of taxes; no Q1 ops impact.
- Repurchased 104k shares for $0.5M in Q1; total repurchases $10M since May 2022.
- Atlanta campus on track for 2023; Somerville campus closing by year-end.

## SEC filing metadata
- accession: 0001140361-23-023346
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2023-05-08T23:59:59+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/1286613/000114036123023346/0001140361-23-023346-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036123023346/brhc20052561_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-023346
- JSON: https://secwatch.observer/filing/0001140361-23-023346.json
- Plain text: https://secwatch.observer/filing/0001140361-23-023346.txt

## Key facts
- Earnings Releases
  LINCOLN EDUCATIONAL SERVICES CORP reported the first quarter ended March 31, 2023 results: revenue $86.4 million. Guidance raised.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $86.4 million
  - Guidance: raised
  - Result: reported results
  source text: First Quarter 2023 Financial Highlights and Recent Operating Developments * • Revenues of $86.4 million grew 6.9% • New student starts increased 6.4% • Adjusted EBITDA of $2.2 million • Increasing outlook for revenues and earnings for the full year *Note: The highlighted financial results exclude the Transitional segment and results and guidance in this release, including the highlights above, include references to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036123023346/0001140361-23-023346-index.htm

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