Lincoln Financial Q1 adjusted EPS $1.66 vs $1.82; pandemic claims reduced EPS by $0.96

LINCOLN NATIONAL CORP

2022-Q1 EPS reported $0.58 revenue$4,687,000,000

Net income $104M ($0.58 diluted) vs $225M ($1.16) in Q1 2021; adjusted operating EPS $1.66 vs $1.82.
Pandemic-related claims and unusual Group Protection adjustments lowered adjusted EPS by $(0.96) combined.
Revenue $4.69B (+3% YoY); Life Insurance sales +36% to $155M; Group Protection sales +42%.
Returned $480M to shareholders including $400M in buybacks; diluted shares fell 9% to 176.4M.
BVPS ex-AOCI $78.32 (+8%); BVPS incl. AOCI $85.59 (-16%) due to higher interest rates.

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