secwatch.observer — SEC 8-K summary
======================================

Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2025-11-10T23:59:59+00:00
Accession:  0001140361-25-041367
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational raises FY2025 guidance after Q3 revenue up 23.6%, adj. EBITDA up 65.1%
--------------------------------------------------------------------------------

- Q3 revenue $141.4M (+23.6% YoY); net income $3.8M ($0.12/share) vs $4.0M ($0.13) prior year which included $2.8M insurance gain.
- Adjusted EBITDA rose 65.1% to $16.9M; student population up 14.8%, student starts up 3.2% (6% ex-Transitional).
- Full-year 2025 guidance raised: revenue $505-510M, adj. EBITDA $65-67M, net income $17-19M, student starts growth 15%-16%.
- Raised 2027 objectives to >$600M revenue and $90M adj. EBITDA; new campus in Rowlett, TX expected early 2027.
- Investor Day scheduled for March 19, 2026 at new Nashville campus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036125041367/0001140361-25-041367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036125041367/ef20058711_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-041367

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer