Lincoln Financial Q1 adj op income $0.41 vs $1.52 prior; legal accrual $90M, severance $39M

LINCOLN NATIONAL CORP

2024-Q1 EPS reported $6.93 revenue$4,116,000,000

Net income available to common $1.2B ($6.93 dil EPS) driven by $1.1B non-economic market risk benefit gain.
Adjusted operating income $71M ($0.41/share) down from $260M ($1.52) in Q1 2023; included $164M significant items.
Group Protection operating income $80M (+13% YoY, second highest quarter); margin expanded 60bps to 6.2%.
Life Insurance operating loss $35M vs loss $13M prior; sales down 30% reflecting shift to capital-efficient mix.
RBC ratio estimated 400-410% (up from ~380% prior year); holding company liquidity $466M.

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 the first quarter ended March 31, 2024 results: net income $1.2 billion, EPS $6.93 per diluted share.

Period: the first quarter ended March 31, 2024
Net income: $1.2 billion
EPS: $6.93 per diluted share
Result: reported results

Exact text from the filing

Lincoln Financial Group (NYSE: LNC) today reported financial results for the first quarter ended March 31, 2024. • Net income available to common stockholders was $1.2 billion, or $6.93 per diluted share.

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Source: SEC EDGAR

accession 0000059558-24-000022

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