Lincoln Educational Q4 revenue $102.5M (+13.6%); guides 2024 rev $410-420M

LINCOLN EDUCATIONAL SERVICES CORP

2023-FY EPS reported $0.85 revenue$378,070,000

Q4 revenue $102.5M (+13.6% YoY); new student starts +16%; EPS $0.23.
FY2023 revenue $376.6M (+10.3%); adj. EBITDA $26.5M; cash $80.3M; no debt.
2024 guidance: rev $410-420M, adj. EBITDA $35-40M, capEx $65-70M, starts +7-12%.
New $40M Fifth Third credit facility; $11M sale-leaseback of Levittown; East Point opens Mar 2024.
Investor Day Mar 19, 2024; Houston campus expected 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LINCOLN EDUCATIONAL SERVICES CORP reported the fourth quarter and year ended December 31, 2023 results: revenue $102.5 million, EPS $0.23.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $102.5 million
EPS: $0.23
Result: reported results

Exact text from the filing

results for the fourth quarter and full year ended December 31, 2023, as well as recent business developments. Fourth Quarter 2023 Financial Highlights* • Revenue grew 13.6% to $102.5 million • New student starts increased 16.0% • Adjusted EBITDA of $15.7 million • Adjusted net income of $10.0 million • Earnings per share of $0.23 • Cashflow from operations of $21.9

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18 earnings releases filed in the last 30 days. Browse all earnings releases →

LINCOLN EDUCATIONAL SERVICES CORP filing history →

Source: SEC EDGAR

accession 0001140361-24-009410

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