Lincoln National reports Q1 adjusted EPS $1.60, consensus $1.52

“We delivered solid results in the first quarter of 2025 as we continued to execute on our strategy to transform Lincoln,” said Ellen Cooper, Chairman, President and CEO of Lincoln Financial. “Year over year, Group Protection earnings increased 26% and margin expanded 120 basis points. Annuities generated significant sales in the quarter supported by a diversified product mix, underlying results in Life Insurance continued to improve, and Retirement Plan Services total deposits increased by 8%. Additionally, our recently announced long-term strategic partnership with Bain Capital is a pivotal milestone in advancing Lincoln’s vision, providing differentiated access to private asset origination, accelerating value creation across multiple value streams, and aligning our interests with a minority ownership stake. Against the current backdrop of macroeconomic uncertainty, the strategic actions we have taken over the past several years to strengthen our capital foundation, optimize our operating model, and shift to a more resilient and diversified business mix leave us well prepared to fulfill our commitments to shareholders and policyholders despite the ongoing volatility.”