Lincoln National Corp Earnings: Misses Estimates
S&P 500 (NYSE:SPY) component Lincoln National Corporation (NYSE:LNC) reported its results for the first quarter. Lincoln National offers a range of wealth protection, accumulation, and retirement income products and solutions through its multiple insurance and investment management businesses.
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Lincoln National Earnings Cheat Sheet for the First Quarter
Results: Net income for Lincoln National Corporation fell to $245.3 million (83 cents per share) vs. $313.5 million (97 cents per share) a year earlier. This is a decline of 21.8% from the year-earlier quarter.
Revenue: Revenue was $2.71 billion last quarter.
Actual vs. Wall St. Expectations: Lincoln National Corporation fell short of the mean analyst estimate of 98 cents per share. It fell short of the average revenue estimate of $2.78 billion.
Quoting Management: “Our strong first quarter operating results continue to reflect the actions we have taken to grow our top line and protect margins across our businesses.” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “Sales increases in Retirement Plan Services and Group Protection are the direct result of strategic investments we have made in these areas, while strong capital generation drove higher share repurchases.”
The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of $1.
Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the second quarter is $1.01 per share, up from 98 cents ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $3.97 per to share to $4.08.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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