LINCOLN NATIONAL CORPLNCEarnings & Financial Report
Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.
Revenue
$5.2B
Gross Profit
N/A
Operating Profit
$1.1B
Net Profit
$895.0M
Gross Margin
N/A
Operating Margin
21.3%
Net Margin
17.4%
YoY Growth
75.9%
EPS
$5.11
LINCOLN NATIONAL CORP Q2 FY2024 Financial Summary
LINCOLN NATIONAL CORP reported revenue of $5.2B (up 75.9% YoY) for Q2 FY2024, with a net profit of $895.0M (up 75.1% YoY) (17.4% margin).
Key Financial Metrics
| Total Revenue | $5.2B |
|---|---|
| Net Profit | $895.0M |
| Gross Margin | N/A |
| Operating Margin | 21.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
LINCOLN NATIONAL CORP Q2 FY2024 revenue of $5.2B breaks down across 5 segments, led by Life Segment at $1.5B (29.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Life Segment | $1.5B | 29.3% |
| Group Protection Segment | $1.4B | 28.0% |
| Annuities Segment | $1.2B | 23.5% |
| Other | $665.0M | 12.9% |
| Retirement Plan Services Segment | $327.0M | 6.3% |
LINCOLN NATIONAL CORP Revenue by Segment — Quarterly Trend
LINCOLN NATIONAL CORP revenue by segment across the last 4 reported quarters, showing how each business line (such as Life Segment and Group Protection Segment) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Life Segment | $1.6B | $1.6B | $1.6B | $1.6B |
| Group Protection Segment | $1.5B | $1.5B | $1.5B | $1.5B |
| Annuities Segment | $1.3B | $1.3B | — | $1.2B |
| Other | $435.0M | — | $573.0M | $378.0M |
| Retirement Plan Services Segment | — | $343.0M | $331.0M | $4.0M |
LINCOLN NATIONAL CORP Annual Revenue by Year
LINCOLN NATIONAL CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $18.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $18.2B |
| 2024 | $18.4B |
| 2022 | $18.9B |
LINCOLN NATIONAL CORP Quarterly Revenue & Net Profit History
LINCOLN NATIONAL CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $4.9B | -2.8% | $755.0M | 15.3% |
| Q3 FY2025 | $4.6B | +10.8% | $445.0M | 9.8% |
| Q2 FY2025 | $4.0B | -21.5% | $699.0M | 17.3% |
| Q1 FY2025 | $4.7B | +14.0% | $-722.0M | -15.4% |
| Q4 FY2024 | $5.1B | +624.2% | $1.7B | 33.3% |
| Q3 FY2024 | $4.1B | -2.2% | $-528.0M | -12.8% |
| Q2 FY2024 | $5.2B | +75.9% | $895.0M | 17.4% |
| Q1 FY2024 | $4.1B | +7.9% | $1.2B | 29.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.12B | $5.15B | $4.11B | $5.06B | $4.69B | $4.04B | $4.55B | $4.92B |
| YoY Growth | 7.9% | 75.9% | -2.2% | 624.2% | 14.0% | -21.5% | 10.8% | -2.8% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $383.38B | $384.53B | $396.84B | $390.83B | $382.90B | $399.06B | $415.27B | $417.20B |
| Liabilities | $375.83B | $376.58B | $387.83B | $382.56B | $374.70B | $389.52B | $404.82B | $406.30B |
| Equity | $7.55B | $7.95B | $9.01B | $8.27B | $8.19B | $9.55B | $10.45B | $10.91B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-1.34B | $-859.0M | $-27.0M | $222.0M | $-272.0M | $1.01B | $-1.14B | $233.0M |