Lincoln National: 2Q Earnings Snapshot
RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported second-quarter earnings of $385 million.
The Radnor, Pennsylvania-based company said it had net income of $1.70 per share. Earnings, adjusted for non-recurring costs, were $2.02 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.
The insurance and retirement business posted revenue of $4.02 billion in the period.
Lincoln National shares have decreased 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. In the final minutes of trading on Wednesday, shares hit $67.74, a decrease of nearly 8 percent in the last 12 months.