Lincoln National reports Q3 adjusted EPS 23c, consensus $1.76

Reports Q3 revenue $4.203B, consensus $4.72B. “Our earnings this quarter did not meet our expectations and reflect that our progress will not always be linear, but I am confident in our path forward,” said Ellen Cooper, Chairman, President and CEO of Lincoln Financial Group. “Our Group business, which produced notably strong performance in the first half of the year, delivered lower than anticipated results this quarter largely driven by higher severity in group life. Across the enterprise, expenses are elevated and are a critical area of focus and opportunity as we look forward. We achieved sequential sales growth in our Retail Solutions businesses and have strong sales pipelines in all four of our businesses heading into the fourth quarter. Additionally, this year’s annual assumption review was comprehensive, and I feel confident in our go-forward assumptions. Our risk-based capital position was stable in the quarter as we continue to be focused on executing on our strategy to rebuild capital.”