Lincoln National: 4Q Earnings Snapshot
RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported fourth-quarter net income of $387 million.
The Radnor, Pennsylvania-based company said it had profit of $1.80 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $2.15 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.
The insurance and retirement business posted revenue of $4.53 billion in the period.
For the year, the company reported profit of $1.62 billion, or $7.40 per share. Revenue was reported as $16.42 billion.
Lincoln National shares have climbed 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 9 percent. In the final minutes of trading on Wednesday, shares hit $58.97, a decrease of 25 percent in the last 12 months.