LNC Lincoln National (LNC) Q2 FY26 earnings call
Lincoln National reported its eighth consecutive quarter of adjusted operating income growth, driven by strategic execution across its businesses. The company announced a significant reinsurance deal for legacy life reserves and prefunded preferred stock redemption, marking an inflection point for capital flexibility. Management emphasized a shift towards profitable, durable growth and a more balanced earnings profile, positioning the company for increased shareholder value.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
LNC operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Net new assets Annuities | ~-$2.2BTotal net outflows for the quarter were approximately $2.2 billion, an increase from the prior year quarter, reflecting higher traditional variable annuity outflows, partially offset by continued positive net flows in spread-based products.Source: earnings call transcript | ~-$2.9BTotal net outflows were approximately $2.9 billion, driven by traditional variable annuities.Source: earnings call transcript | — |
| Net new assets Traditional variable annuity | ~-$2.6BTraditional variable annuity net outflows for the quarter were approximately $2.6 billion.Source: earnings call transcript | ~-$2.7BTraditional variable annuity net outflows were about $2.7 billion with the pace of outflows consistent with recent quarters and in line with our expectations.Source: earnings call transcript | — |
| Net new assets Retirement Plan Services | ~-$200MNet outflows for the quarter were approximately $200 million, a meaningful improvement from the prior year quarter.Source: earnings call transcript | ~-$2.4BNet outflows were approximately $2.4 billion in the quarter, driven by 3 large plan sponsor terminations, none of which met our profitability thresholds.Source: earnings call transcript | — |
| Leverage ratio | 25%Second, our leverage ratio improved further during the quarter to 25%, which is now at our long-term target.Source: earnings call transcript | ~25%Our estimated RBC ratio remains well above our 400% target and the 20-point buffer we hold on top of it, and we maintained our leverage ratio at roughly 25%, in line with our long-term target.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.