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    LINCOLN NATIONAL (LNC)

    Q1 2024 Earnings Summary

    Reported on Jan 7, 2025 (Before Market Open)
    Pre-Earnings Price$27.69Last close (May 1, 2024)
    Post-Earnings Price$27.57Open (May 2, 2024)
    Price Change
    $-0.12(-0.43%)
    • Lincoln National Corporation (LNC) is improving its capital position, moving towards completing the Osaic transaction, which will help reach their RBC buffer target of 420, providing additional financial flexibility.
    • The hedging program for variable annuities is performing well, with excess capital from a regulatory perspective, and is working as intended, enhancing financial stability.
    • LNC is committed to deleveraging and improving its capital structure, including plans to repay preferred debt due in 2027, reducing the cost of capital and strengthening the balance sheet.
    • Annuity sales decreased by 10% year-over-year, while competitors reported increases, indicating potential market share loss and increased competition.
    • Life Insurance segment reported an operating loss in the quarter, even after adjusting for notable items, raising concerns about profitability in that segment.
    • No significant progress on the affiliated reinsurance initiative in Bermuda, which may delay expected capital relief.

    Research analysts covering LINCOLN NATIONAL.