Lincoln National: 2Q Earnings Snapshot
RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported a second-quarter loss of $94 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Radnor, Pennsylvania-based company said it had a loss of 49 cents. Earnings, adjusted for non-recurring costs, came to 97 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The insurance and retirement business posted revenue of $3.52 billion in the period. Its adjusted revenue was $4.21 billion.
Lincoln National shares have dropped 34% since the beginning of the year, while the Standard & Poor's 500 index has increased 3%. In the final minutes of trading on Wednesday, shares hit $39, a drop of 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LNC at https://www.zacks.com/ap/LNC