Inferra AI / Company / LNC

Lincoln National Corp

LNC · Financials

Last earnings Jul 30, 2026

Key results

Adjusted operating incomequarter

$326 million

First quarter adjusted operating income available to common stockholders was $326 million, or $1.66 per diluted share.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Operating incomequarter

$275 million

Retail Solutions Annuities delivered operating income of $275 million, down 5% compared to the prior-year quarter, driven by the impact of the previously disclosed net investment income allocation refinement and unfavorable tax-related items.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Growthquarter

down 5%

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Adjusting for these items, operating income was up 1%, driven by favorable equity markets and growth in spread income, offset by variable annuity outflows.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Life Insurance delivered operating income of $41 million, a $57 million increase from the prior-year quarter, driven by strong alternative investment income and the impact of the fourth quarter 2025 captive consolidation.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Workplace Solutions Group Protection delivered operating income of $112 million, compared to $101 million in the prior-year quarter, driven by favorable life experience.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Revenuequarter

$150 million

Sales of $150 million were 4% lower year over year and demonstrated a disciplined approach to balanced growth in the segment.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Retirement Plan Services reported operating income of $43 million in the quarter, up 26% year over year, driven by spread expansion and favorable equity markets, partially offset by trailing-twelve-month outflows.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Operating marginquarter

8.0%

Operating margin was 8.0%, 60 basis points higher than the prior-year quarter, and the total loss ratio decreased 130 basis points to 71.1%, driven by favorable life experience partially offset by unfavorable disability severity.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

AI analysis

Q1 2026 · reported May 7, 2026

Based on: Earnings release + Q1 2026 deck + parent 8-K + 10-Q — transcript not held

Revenue · Q1 2026

$150M

EX-99 · May 7, 2026

Adjusted operating income · Q1 2026

$326M

EX-99 · May 7, 2026

Operating income · Q1 2026

$275M

EX-99 · May 7, 2026

Operating margin · Q1 2026

8.0%

EX-99 · May 7, 2026

Headline figures

Metric	Q1 2026	Prior qtr	Year ago
Adjusted operating income	$326 million	—	—
Operating income	$275 million	—	—
Growth	down 5%	—	—
Revenue	$150 million	—	—
Operating margin	8.0%	—	—

EX-99 · May 7, 2026

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating margin8.0%

Capital allocation

(3) Tax-related items including dividends-received deduction and foreign tax credit true-ups.

Adjusted Income (Loss) from Operations Available to Common Stockholders Adjusted income (loss) from operations available to common stockholders is defined as after-tax adjusted income (loss) from operations less preferred stock dividends.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Our first quarter results reflect continued disciplined execution and consistent, meaningful progress against our strategic priorities, said Ellen Cooper, Chairman, President and CEO of Lincoln Financial

Based on: Earnings release + Q1 2026 deck + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

(3) Tax-related items including dividends-received deduction and foreign tax credit true-ups.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Adjusted income (loss) from operations available to common stockholders is defined as after-tax adjusted income (loss) from operations less preferred stock dividends.

SEC original ↗Lincoln National Corp — Presentation / slide deck (8-K exhibit)EX-99May 7, 2026

Leverage ratio is a measure that we use to monitor the level of our debt relative to our total capitalization.

SEC original ↗Lincoln National Corp — Presentation / slide deck (8-K exhibit)EX-99May 7, 2026

Debt used in this metric reflects total debt and preferred stock adjusted for certain items.

SEC original ↗Lincoln National Corp — Presentation / slide deck (8-K exhibit)EX-99May 7, 2026

Total capitalization reflects debt used in the numerator of this ratio and stockholders' equity adjusted for certain items.

SEC original ↗Lincoln National Corp — Presentation / slide deck (8-K exhibit)EX-99May 7, 2026

Strategy & priorities

Sustained progress against strategic and financial objectives drove solid first quarter performance.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Our first quarter results reflect continued disciplined execution and consistent, meaningful progress against our strategic priorities, said Ellen Cooper, Chairman, President and CEO of Lincoln Financial.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

We remain focused on advancing these priorities to further build on this trajectory and create sustainable, long-term value for shareholders.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

1 Business Highlights Our 2026 first quarter performance represents sustained, company-wide progress against our strategic and financial objectives.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Spread-based products accounted for approximately two-thirds of total sales in the quarter, reflecting our continued strategic shift towards spread-based business.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Risks & headwinds

In particular, these include statements relating to future actions, trends in Lincoln s businesses, prospective services or products, future performance or financial results and the outcome of contingencies, such as legal proceedings.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Forward-looking statements are subject to risks and uncertainties.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

The risks and uncertainties included here are not exhaustive.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

SEC original ↗Lincoln National Corp — Earnings release (8-K exhibit)EX-99May 7, 2026

Legal Proceedings 119 Item 1A.

SEC original ↗Lincoln National Corp — 10-Q Quarterly report10-QMay 7, 2026

We assess these risks by continually identifying and monitoring changes in our exposures that may adversely affect expected future cash flows and by evaluating hedging opportunities.

SEC original ↗Lincoln National Corp — 10-Q Quarterly report10-QMay 7, 2026

Documents

Earnings deck slides

0 decks with slide view

Lincoln National Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.