---
schema_version: "secwatch.filing_event.v1"
accession: "0000059558-25-000044"
form_type: "8-K"
ticker: "LNC"
cik: "0000059558"
company_name: "LINCOLN NATIONAL CORP"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T05:58:44.303964+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Financial Q1 net loss $756M, adjusted operating income $280M; announces Bain Capital partnership

## Summary
- Q1 net loss available to common stockholders of $756M ($4.41/diluted share) vs prior-year net income $1.19B.
- Adjusted operating income available to common stockholders $280M ($1.60/diluted share), up from $210M ($1.22) YoY.
- Annuities operating income $290M (+12%); Life Insurance loss improved to $16M from $35M loss; Group Protection income up 26% to $101M.
- RBC ratio estimated above 420% in Q1 2025; adjusted book value per share $73.19.
- Announced minority investment partnership with Bain Capital expected to close H2 2025.

## SEC filing metadata
- accession: 0000059558-25-000044
- form_type: 8-K
- ticker: LNC
- cik: 0000059558
- company_name: LINCOLN NATIONAL CORP
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/59558/000005955825000044/0000059558-25-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/59558/000005955825000044/lnc-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000059558-25-000044
- JSON: https://secwatch.observer/filing/0000059558-25-000044.json
- Plain text: https://secwatch.observer/filing/0000059558-25-000044.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.