Insurance and financial services company Lincoln National Corporation (LNC) reported a rise in its third quarter net income and revenue late Thursday.
The Radnor, Pennsylvania based company said its third quarter net income was $402 million, or $1.41 per share, compared to $147 million, or 47 cents per share, a year earlier. Adjusted net income for the quarter was $335 million, or $1.18 per share, compared to $329 million, or $1.03 per share, a year ago. This adjusted EPS easiluy beat analysts view, as Wall Street analysts polled by Thomson Reuters expected Lincoln National to earn $1.02 per share.
Total revenue for the company rose to $2.914 billion from $2.735 billion a year earlier. Analysts expected revenues of $2.83 billion.
CEO Dennis R. Glass commented, “Our positive third quarter results reflect the many actions we continue to take to increase earnings per share and return on equity. We are aggressively investing to further build our franchise, while at the same time maintaining our balance sheet strength and flexibility.”
Lincoln National shares were down 11 cents, or -0.4%, in premarket trading on Friday.
Lincoln National Corporation (LNC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.