Lincoln National Earnings Reports

Lincoln National Group reported a net income of $819 million, or $4.79 per diluted share, for Q3 2023, a significant improvement compared to the net loss of $1.8 billion in Q3 2022. However, adjusted operating income was $39 million, or $0.23 per diluted share, impacted by unfavorable notable items and challenges in the Life Insurance business. Expenses increased across all segments, and Group Protection earnings were affected by higher life severity and weaker disability incidence.

Lincoln National Group reported a net income available to common stockholders of $502 million, or $2.94 per diluted share, for Q2 2023. Adjusted income from operations available to common stockholders was $343 million, or $2.02 per diluted share. The company is focused on improving free cash flow, reducing capital sensitivity to market volatility, and diversifying its business mix.

Lincoln National Group reported a net loss for Q1 2023, driven by unfavorable impacts from market risk benefits and hedge instrument fair value changes. However, the company is taking actions to rebuild capital and increase free cash flow, including a $28 billion block reinsurance transaction. Adjusted operating income remained relatively stable, and the company is focused on shifting to a more capital-efficient product mix.

Lincoln National Group reported a net income of $6 million for Q4 2022, a significant decrease from $220 million in Q4 2021. Adjusted income from operations was $170 million, compared to $286 million in the prior year quarter. The results were impacted by unfavorable equity markets and a net unfavorable notable item of $116 million.

Lincoln Financial Group reported a net loss of $(2.6) billion for the third quarter of 2022, compared to a net income of $318 million in the third quarter of 2021. The adjusted loss from operations was $(1.7) billion, which included net unfavorable notable items of $2.0 billion related to the company's annual review of DAC and reserve assumptions.

Lincoln National Group reported a decrease in net income for Q2 2022, with $238 million compared to $642 million in Q2 2021. Despite equity market headwinds, underlying earnings were solid, with positive developments in Group Protection results and a significant decline in pandemic claims.

Lincoln National Group reported a net income of $104 million, or $0.58 per diluted share, and an adjusted operating income of $294 million, or $1.66 per diluted share. The results were driven by growth in sales, capital returns, and a strong balance sheet, despite headwinds from the pandemic and alternative investment income.

Lincoln National Group reported a net income of $220 million, or $1.20 per diluted share, for the fourth quarter of 2021. Adjusted income from operations was $286 million, or $1.56 per diluted share. The company demonstrated strong underlying earnings power and robust capital returns to shareholders despite a challenging claims environment.

Lincoln National reported a net income of $318 million, or $1.68 per diluted share, for the third quarter of 2021, compared to $398 million, or $2.01 per diluted share, for the third quarter of 2020. Adjusted income from operations was $307 million, or $1.62 per diluted share, compared to an adjusted loss from operations of $(133) million, or $(0.72) per diluted share, in the third quarter of 2020. The current quarter’s adjusted operating results included net unfavorable notable items of $108 million, or $0.57 per share. The company completed $200 million in share repurchases and the board of directors approved raising the quarterly dividend on its common shares to $0.45 per share.

Lincoln National Group reported a net income of $642 million for Q2 2021, a significant increase compared to the net loss of $(94) million in Q2 2020. Adjusted income from operations was $608 million, compared to $187 million in the prior year. The company's diversified business model benefited from positive underwriting results, equity market tailwinds, and solid investment performance.

Lincoln Financial Group reported a net income of $225 million, or $1.16 per diluted share, for the first quarter of 2021, compared to $52 million, or $0.15 per diluted share, for the same period in 2020. Adjusted income from operations was $350 million, or $1.82 per diluted share, compared to $465 million, or $2.24 per diluted share, in the first quarter of 2020. The results reflect increased operating revenues and expense efficiency across all business segments, though were impacted by the pandemic.

Lincoln National Group reported a net income of $143 million for Q4 2020, a decrease compared to $431 million in Q4 2019. Adjusted income from operations was $346 million, also lower than the $482 million in the same quarter of the previous year. The results were impacted by elevated pandemic-related claims experience, offset partially by above-targeted alternative investment income. Despite these challenges, the company's underlying earnings power remained strong.

Lincoln National Group reported a net income of $398 million, or $2.01 per diluted share. However, the adjusted loss from operations was $(133) million, or $(0.72) per diluted share. The results were impacted by the annual review process and elevated claims related to the pandemic.

Lincoln National Group reported a net loss of $(94) million, or $(0.49) per diluted share, for Q2 2020, compared to a net income of $363 million, or $1.79 per diluted share, in Q2 2019. Adjusted income from operations was $187 million, or $0.97 per diluted share, versus $478 million, or $2.36 per diluted share, in the prior year. Results were impacted by COVID-19 related claims and negative alternative investment portfolio returns.

Lincoln National Group reported a net income of $52 million for the first quarter of 2020, a significant decrease from $252 million in the first quarter of 2019. However, adjusted income from operations increased to $465 million, or $2.24 per diluted share. The company returned $304 million of capital to shareholders during the quarter.

Lincoln National Group reported a net income of $431 million, or $2.15 per diluted share, for Q4 2019, compared to $399 million, or $1.80 per diluted share, in Q4 2018. Adjusted income from operations was $482 million, or $2.41 per diluted share, compared to $475 million, or $2.15 per diluted share in the prior year. The company's performance was driven by growth in operating revenues across all four business segments and strong equity market performance.