---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-009410"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T14:40:05.192026+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-24-009410
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2024-02-26T23:59:59+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/1286613/000114036124009410/0001140361-24-009410-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036124009410/ef20022413_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-009410
- JSON: https://secwatch.observer/filing/0001140361-24-009410.json
- Plain text: https://secwatch.observer/filing/0001140361-24-009410.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036124009410/0001140361-24-009410-index.htm

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