---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-020531"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2026-05-11T19:47:07+00:00"
generated_at: "2026-05-11T19:48:41.326726+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational Q1 revenue up 22.5% to $144M; net income doubles; raises FY 2026 guidance

## Summary
- Revenue $144.0M (+22.5% YoY); net income $4.4M ($0.14 EPS) vs $1.9M ($0.06 EPS).
- Adjusted EBITDA $15.5M (+85%); student starts 5,500 (+19.5%); ending pop. 18,702 (+17.6%).
- Net cash from ops improved to $4.6M generated vs ($8.4M) used a year ago.
- Total liquidity ~$72M as of March 31, 2026.
- Full-year 2026 guidance raised reflecting strong Q1 and current trends.

## SEC filing metadata
- accession: 0001140361-26-020531
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2026-05-11T19:47:07+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036126020531/0001140361-26-020531-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036126020531/ef20072995_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-020531
- JSON: https://secwatch.observer/filing/0001140361-26-020531.json
- Plain text: https://secwatch.observer/filing/0001140361-26-020531.txt

## Key facts
- Earnings Releases
  LINCOLN EDUCATIONAL SERVICES CORP reported first quarter ended March 31, 2026 results: revenue $144.0 million, net income $4.4 million, or $0.14 per share, EPS $0.14 per share. Guidance raised.
  - Period: first quarter ended March 31, 2026
  - Revenue: $144.0 million
  - Net income: $4.4 million, or $0.14 per share
  - EPS: $0.14 per share
  - Guidance: raised
  - Result: reported results
  source text: Quarter 2026 Financial and Operational Highlights (Quarter ended March 31, 2026, compared to quarter ended March 31, 2025, unless otherwise noted) • Revenue increased 22.5% to $144.0 million from $117.5 million • Net income more than doubled to $4.4 million, or $0.14 per share, compared to $1.9 million, or $0.06 per share • Adjusted EBITDA 1 increased 85% to $15.5
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036126020531/0001140361-26-020531-index.htm

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