Lincoln Financial Q1 net loss ($5.37)/share; adjusted EPS $1.52; $28B reinsurance with Fortitude Re

LINCOLN NATIONAL CORP

2023-Q1 EPS reported -$5.37 revenue$3,814,000,000

Net loss available to common stockholders of $(909)M ($5.37/diluted share) vs $1,481M ($8.39) in prior year.
Adjusted operating income of $260M ($1.52/share) vs $273M ($1.55); revenues fell 19% to $3.8B.
Annuities income down 14% to $274M; Life Insurance posted a $13M operating loss; Group Protection swung to $71M income.
Announced $28B block reinsurance transaction with Fortitude Re to bolster capital and balance sheet.
Average diluted share count down 3% YoY to 170.5M; book value per share (ex-AOCI) fell 12% to $56.04.

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 first quarter of 2023 results: net income net loss available to common stockholders for the first quarter of 2023 of $(909) million, EPS $(5.37) per diluted share.

Period: first quarter of 2023
Net income: net loss available to common stockholders for the first quarter of 2023 of $(909) million
EPS: $(5.37) per diluted share
Result: reported results

Exact text from the filing

Lincoln Financial Group (NYSE: LNC) today reported a net loss available to common stockholders for the first quarter of 2023 of $(909) million, or $(5.37) per diluted share, compared to net income available to common stockholders in the first quarter of 2022 of $1,481 million, or $8.39 per diluted share.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

LINCOLN NATIONAL CORP filing history →

Source: SEC EDGAR

accession 0000059558-23-000029

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.