Lincoln National (LNC)
NYSE:LNC
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.03Last Year’s EPS
2.36Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a clear net-positive operational and capital story: adjusted operating income growth (16% YoY), diversified and improving business mix (notably in Group Protection, Life, FIAs and spread-based annuities), strong alternative investment returns, and solid capital and liquidity metrics (RBC >420%, leverage at 25%, holding company liquidity ~ $805M net). Near-term challenges include a GAAP net loss driven by market-related items, sizable variable annuity outflows, a higher disability loss ratio (PFML and LTD resolution impacts), a one-time tax true-up and some sequential pressure in annuity balances/fee income. Management framed these headwinds as manageable and largely expected within their strategic transition. Overall, positive execution and financial flexibility outweigh the near-term operational and market-driven headwinds.Company Guidance
Adjusted Operating Income Growth
Adjusted operating income increased 16% year-over-year, marking the seventh consecutive quarter of YoY growth; adjusted operating income available to common stockholders was $326 million or $1.66 per diluted share.
Strong Alternative Investments Performance
Alternative investments delivered an annualized return of 12.3% in the quarter (approximately $129 million pre-tax) and contributed about $19 million after tax above the 10% annualized target.
Life Insurance Turnaround and Sales Growth
Life Insurance operating earnings were $41 million (strongest Q1 in 5 years) vs an operating loss of $16 million a year ago; life sales were $129 million, up over 30% YoY, with Core Life & MoneyGuard sales of $96 million up 20% and executive benefits nearly doubling.
Group Protection Momentum and Margin Expansion
Group Protection operating income was $112 million, up 11% YoY (from $101 million) with operating margin improving 60 basis points to 8%; premiums were up 2% YoY, local market premiums grew >4% (strongest YoY increase in nearly a decade) and supplemental health premiums rose 28% YoY.
Annuities: Rebalanced Mix and Account Balance Growth
Total annuity account balances net of reinsurance were $169 billion, up 7% YoY, supported by 15% growth in RILA balances and 24% growth in fixed annuity balances; spread-based products now represent 31% of annuity balances (up from 28% a year ago).
Fixed Indexed Annuities (FIA) Acceleration
FIA sales increased over 90% YoY, reflecting differentiated crediting strategies, broader distribution and improved digital capabilities; total fixed annuity sales supported account value growth despite lower MYGA volumes.
Retirement Plan Services Improvement
Retirement Plan Services operating income rose 26% YoY to $43 million; first-year sales were $1.1 billion (up nearly 3% YoY), average account balances grew ~10% YoY to $125 billion, and base spreads expanded to 116 basis points (up 13 bps).
Capital and Liquidity Strength
Estimated RBC ratio remained well above the 420% buffer target for the eighth consecutive quarter; leverage ratio improved to 25% (at the long-term target); holding company liquidity ended the quarter at approximately $1.2 billion including $400 million prefunding (net ~$805 million).
LNC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LNC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $37.62 | $35.94 | -4.47% |
Feb 12, 2026 | $38.00 | $40.15 | +5.64% |
Oct 30, 2025 | $39.11 | $39.75 | +1.65% |
Jul 31, 2025 | $33.03 | $36.81 | +11.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Lincoln National (LNC) report earnings?
Lincoln National (LNC) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Lincoln National (LNC) earnings time?
Lincoln National (LNC) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LNC EPS forecast?
LNC EPS forecast for the fiscal quarter 2026 (Q2) is 2.03.