Lincoln National: 3Q Earnings Snapshot
RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported a third-quarter loss of $161 million, after reporting a profit in the same period a year earlier.
The Radnor, Pennsylvania-based company said it had a loss of 83 cents per share. Earnings, adjusted for non-recurring costs and to extinguish debt, were $2.22 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.
The insurance and retirement business posted revenue of $4.64 billion in the period.
Lincoln National shares have increased 20% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 22%. In the final minutes of trading on Wednesday, shares hit $61.63, a climb of nearly 5% in the last 12 months.