Lincoln National posts Q3 net loss of $2.6B; $15.17 EPS loss on $634M goodwill impairment and $2.0B DAC charge

LINCOLN NATIONAL CORP

2022-Q3 EPS reported -$13.06 revenue$14,589,000,000

Net loss of $2.6B ($15.17 diluted EPS); adjusted operating loss of $1.7B ($10.23 per share).
Includes $634M goodwill impairment and $2.0B net unfavorable notable items from annual assumption review, primarily guaranteed universal life.
Estimated $550M statutory capital impact, 22-point RBC decline; dividend maintained at $0.45/share payable Feb 1, 2023.
Life Insurance segment lost $2.2B from operations; Annuities income up 33% to $449M; Group Protection swung to $37M profit.
Book value per share (ex AOCI) fell 17% to $64.09; average diluted share count down 10% YoY from repurchases.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LINCOLN NATIONAL CORP reported quarter ended September 30, 2022 results: net income Net loss per share of $(15.17), EPS $(15.17) per diluted share available to common stockholders.

Period: quarter ended September 30, 2022
Net income: Net loss per share of $(15.17)
EPS: $(15.17) per diluted share available to common stockholders
Result: reported results

Exact text from the filing

Lincoln Financial Group reports THIRD Quarter 2022 Results

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Source: SEC EDGAR

accession 0000059558-22-000041

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