Lincoln National Earnings: Beats Forecasts

S&P 500 (NYSE:SPY) component Lincoln National Corporation (NYSE:LNC) reported net income above Wall Street’s expectations for the third 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 Corporation Earnings Cheat Sheet

Results: Net income for Lincoln National Corporation rose to $402 million ($1.41 per share) vs. $147 million (47 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year-earlier quarter.

Revenue: Rose 16% to $2.95 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Lincoln National Corporation reported adjusted net income of $1.18 per share. By that measure, the company beat the mean estimate of $1.01 per share. It beat the average revenue estimate of $2.78 billion.

Quoting Management: “Our positive third quarter results reflect the many actions we continue to take to increase earnings per share and return on equity,” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “We are aggressively investing to further build our franchise, while at the same time maintaining our balance sheet strength and flexibility.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 9 cents in the second quarter and by 2 cents in the first quarter.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from $1.04 a share to $1.07 over the last ninety days. Over the past three months, the average estimate for the fiscal year has climbed from $4.10 per to share to $4.18.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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