secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001140361-23-038529
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational Q2 revenue up 9.8% to $88.2M; raises FY2023 guidance
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- Revenue grew 9.8% to $88.2M, driven by 17.9% increase in new student starts and 8.6% higher revenue per student.
- Adjusted EBITDA of $2.4M; net gain of $30.9M from sale of Nashville property, net proceeds $33.3M.
- Full-year 2023 revenue guidance raised to $360M-$370M, adjusted EBITDA to $22M-$26M, adjusted net income to $10M-$13M.
- Student start growth refined to upper end of prior range: 6%-10% (excluding ~150 starts shifted to 2024).
- Closed sale of Nashville campus for $33.8M; entered rent-free lease for up to 15 months while relocating.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123038529/0001140361-23-038529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036123038529/brhc20057056_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-038529

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