NYSE$LNC
Lincoln National Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Lincoln National's earnings did not meet expectations due to higher severity in group life and elevated expenses, but sequential sales growth was achieved in Retail Solutions businesses.
Lincoln National Group reported a net income of $819 million, or $4.79 per diluted share, for Q3 2023, a significant improvement compared to the net loss of $1.8 billion in Q3 2022. However, adjusted operating income was $39 million, or $0.23 per diluted share, impacted by unfavorable notable items and challenges in the Life Insurance business. Expenses increased across all segments, and Group Protection earnings were affected by higher life severity and weaker disability incidence.
- Net income available to common stockholders was $4.79 per diluted share.
- Adjusted operating income available to common stockholders was $0.23 per diluted share, including net unfavorable notable items of $0.84 per diluted share.
- Group Protection earnings were impacted by higher life severity and weaker disability incidence.
- Sequential sales growth was achieved in Retail Solutions businesses, with strong sales pipelines in Workplace Solutions businesses.
Headline financials
Revenue & EPS history
Lincoln National · Revenue · Quarterly
$4.2B
Revenue by segment
Lincoln National · $73M total across 5 segments · Q3 2023
- Annuities$248M-44.8%339.7%
- Group Protection$68M+83.8%93.2%
- Retirement Plan Services$43M-17.3%58.9%
- Other Operations-$113M+0.0%-154.8%
- Life Insurance-$173M+92.1%-237.0%
Forward guidance
No specific forward guidance was provided in the earnings report.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.2%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
50%
36 / 72 earnings
Positive
+7.9%
Q3 2009
Best reaction
-35.5%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.3% | -6.8% | -7.7% | |
| Q4 2025 | +5.6% | +8.0% | -15.3% | |
| Q3 2025 | +1.6% | +0.7% | +2.8% | |
| Q1 2025 | -1.9% | +4.4% | -1.7% | |
| Q4 2024 | +5.9% | +13.7% | +5.4% | |
| Q3 2024 | -0.2% | -2.4% | +5.8% | |
| Q2 2024 | -9.8% | -11.6% | -3.6% | |
| Q1 2024 | +1.5% | +5.2% | +19.1% | |
| Q4 2023 | -5.3% | -0.9% | -0.0% | |
| Q3 2023 | +6.2% | +9.4% | +10.8% | |
| Q2 2023 | -0.9% | -2.2% | -7.3% | |
| Q1 2023 | -5.0% | -9.9% | +10.8% | |
| Q4 2022 | -3.2% | -1.0% | -27.6% | |
| Q3 2022 | -35.5% | -38.4% | -28.1% | |
| Q2 2022 | -6.3% | -7.6% | -8.0% | |
| Q1 2022 | -5.4% | -10.6% | -10.8% | |
| Q4 2021 | -5.5% | +0.5% | -13.3% | |
| Q3 2021 | -3.1% | -1.1% | -11.6% | |
| Q2 2021 | +5.7% | +8.8% | +8.9% | |
| Q1 2021 | +6.1% | +7.2% | +10.0% | |
| Q4 2020 | +5.4% | +10.8% | +23.5% | |
| Q3 2020 | -4.0% | +14.0% | +46.4% | |
| Q2 2020 | -1.6% | +7.3% | +4.7% | |
| Q1 2020 | +7.1% | +8.7% | +45.6% | |
| Q4 2019 | +6.6% | +7.2% | -31.5% | |
| Q3 2019 | -8.8% | -3.8% | -4.7% | |
| Q2 2019 | -9.6% | -14.7% | -20.1% | |
| Q1 2019 | -0.5% | +0.1% | -10.9% | |
| Q4 2018 | +0.7% | +0.6% | +2.3% | |
| Q3 2018 | +5.2% | +7.2% | +4.6% | |
| Q2 2018 | -3.5% | -1.9% | -3.7% | |
| Q1 2018 | -5.4% | -2.3% | -4.0% | |
| Q4 2017 | +2.3% | -7.0% | -12.2% | |
| Q3 2017 | +1.2% | +1.1% | +1.0% | |
| Q2 2017 | -0.6% | +0.5% | -6.3% | |
| Q1 2017 | +1.8% | +3.7% | -0.6% | |
| Q4 2016 | +1.5% | +2.3% | +5.4% | |
| Q3 2016 | +5.2% | +6.8% | +33.4% | |
| Q2 2016 | +0.4% | +7.8% | +12.3% | |
| Q1 2016 | -5.3% | — | — | |
| Q4 2015 | -4.3% | — | — | |
| Q3 2015 | +5.0% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | +1.1% | — | — | |
| Q3 2014 | +1.5% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | -0.1% | — | — | |
| Q2 2013 | +7.9% | — | — | |
| Q1 2013 | -6.0% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q3 2012 | +1.7% | — | — | |
| Q2 2012 | +6.4% | — | — | |
| Q1 2012 | -4.7% | — | — | |
| Q4 2011 | +0.4% | — | — | |
| Q3 2011 | +2.1% | — | — | |
| Q2 2011 | -6.1% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2010 | +2.6% | — | — | |
| Q3 2010 | -3.9% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q1 2010 | +4.8% | — | — | |
| Q2 2009 | -0.6% | — | — | |
| Q4 2007 | -0.6% | — | — | |
| Q3 2008 | +7.9% | — | — | |
| Q3 2009 | +7.9% | — | — | |
| Q2 2008 | +6.2% | — | — | |
| Q1 2009 | +6.2% | — | — | |
| Q4 2008 | +6.2% | — | — |
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