secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000059558-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000005955823000029/0000059558-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000005955823000029/lnc-20230509x8k.htm
  HTML page:      https://secwatch.observer/filing/0000059558-23-000029

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