secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001140361-23-023346
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123023346/0001140361-23-023346-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123023346/brhc20052561_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-023346

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