Jun 2026 (Q2 FY26) — Jul 30, 2026
Lincoln National Corporation Q2 FY26 — Strategic Repositioning and Capital Flexibility
Read the full callLincoln National (LNC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Lincoln National earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,542 | +12.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 1,332 | +90.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$39.28 −1.38% · −$0.55
Performance +1.9% 1Y
1Y: $38.54 on 17 Oct 2025 → $39.28. High $47 (4 Aug 2026), low $32.59 (12 Mar 2026).
- Previous close
- $39.83
- 52-week range
- $32.59 – $47
- One year
- +0.72%
Overview
- Symbol
- LNC
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Lincoln National Corporation Q1 FY26 — Strong Execution Drives 16% Adjusted Operating Income Growth
Read the full callEvery analysed call
Lincoln National earnings calls (LNC)
Financials
What the filings say
Net profit, year on year: +91% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,111 | 5,062 | 4,691 | 4,044 | 4,555 | 4,922 | 5,306 | 4,542 |
| Profit before tax | -703 | 2,101 | -949 | 848 | 524 | 915 | -246 | 1,643 |
| Tax rate | 24.9% | 19.8% | 23.9% | 17.6% | 15.1% | 17.5% | 30.1% | 18.9% |
| Net profit | -528 | 1,686 | -722 | 699 | 445 | 755 | -172 | 1,332 |
| EPS ($ per share) | -3.29 | — | -4.41 | 3.88 | 2.15 | — | -1.08 | 6.85 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 8,551 | 8,854 | 8,686 | 9,578 | 5,924 | 4,778 | 7,645 | 8,386 |
| Total liabilities | 283,797 | 315,072 | 343,249 | 366,191 | 329,229 | 365,520 | 382,562 | 406,298 |
| Total assets | 298,147 | 334,761 | 365,948 | 386,945 | 334,331 | 372,413 | 390,831 | 417,204 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,943 | -2,686 | 534 | -217 | 3,609 | -2,074 | -2,007 | -167 |
| Cash from investing | -5,815 | -5,499 | -9,481 | -3,584 | -11,646 | -3,334 | 821 | -4,013 |
| Cash from financing | 4,589 | 8,403 | 8,092 | 4,705 | 8,768 | 5,430 | 3,622 | 7,881 |
| Net cash flow | — | — | — | 904 | 731 | 22 | 2,436 | 3,701 |
LNC operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | 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.
Insider filings
63 filings between Nov 12, 2025 and Aug 24, 2026.
Open market
decisions to buy or sellPurchases
$94.1K
2 purchases by 2 insiders
Sales
$3.69M
8 sales by 5 insiders
Compensation
not trading decisions- 23
- Award — granted as compensation
- 1
- Option exercise — converted options into shares
- 28
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Woodroffe Sean | — | $1.97M | Aug 17, 2026 |
| Beazer CraigT T | — | $1.03M | Jun 5, 2026 |
| KELLY GARY C | — | $397.7K | Aug 12, 2026 |
| Kennedy John Christopher | — | $155.4K | Dec 10, 2025 |
| Reid James Waltman | — | $127.5K | Feb 18, 2026 |
| Ryan Owen | $84.3K | — | Nov 12, 2025 |
| Charters Jennifer | $9.8K | — | Mar 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 24, 2026 | Cohen Adam M Interim CFO & CAO | Award | 23,597 | $0 |
| Aug 24, 2026 | Cohen Adam M Interim CFO & CAO | Award | 7,866 | $0 |
| Aug 17, 2026 | Woodroffe Sean EVP, Ch Ppl Comms Ent Srvc Off | Sale | 11,000 | $498.1K |
| Aug 17, 2026 | Chesney Curtis W. EVP, President of Annuities | Gift | 637 | $0 |
| Aug 12, 2026 | KELLY GARY C Director | Sale | 15,007 | $397.7K |
| Aug 9, 2026 | Neczypor Christopher M EVP & CFO | Tax withheld | 2,464 | $113.4K |
| Jun 5, 2026 | Beazer CraigT T EVP & General Counsel | Sale | 30,000 | $1.03M |
| Jun 1, 2026 | Rallis Andrew EVP, Chief Risk Officer | Tax withheld | 20,052 | $694.4K |
| Jun 1, 2026 | Woodroffe Sean EVP, Ch Ppl Comms Ent Srvc Off | Sale | 25,000 | $868.8K |
| May 24, 2026 | Rallis Andrew EVP, Chief Risk Officer | Tax withheld | 32,281 | $1.16M |
| May 24, 2026 | Kennedy John Christopher EVP, Chief Dist. & Brand Off | Tax withheld | 23,801 | $857.6K |
| May 24, 2026 | Woodroffe Sean EVP, Ch Ppl Comms Ent Srvc Off | Tax withheld | 45,150 | $1.63M |
| Mar 13, 2026 | Charters Jennifer EVP, Chief Information Officer | Purchase | 300 | $9.8K |
| Mar 9, 2026 | Woodroffe Sean EVP, Ch Ppl Comms Ent Srvc Off | Sale | 8,000 | $261.9K |
| Mar 2, 2026 | Woodroffe Sean EVP, Ch Ppl Comms Ent Srvc Off | Sale | 10,000 | $344.6K |
| Feb 19, 2026 | Cooper Ellen Chairman, President & CEO | Award | 109,227 | $0 |
| Feb 19, 2026 | Kroll Brian EVP, Head of Life & Annuities | Award | 20,574 | $0 |
| Feb 19, 2026 | Morriss John G EVP, Chief Investment Officer | Award | 13,716 | $0 |
| Feb 19, 2026 | Adhya Nilanjan EVP Chf AI Data Analytics Off | Award | 19,951 | $0 |
| Feb 19, 2026 | Reid James Waltman EVP, Pres. Workplace Solutions | Tax withheld | 20,697 | $829.9K |
| Feb 19, 2026 | Reid James Waltman EVP, Pres. Workplace Solutions | Award | 37,158 | $0 |
| Feb 19, 2026 | Rallis Andrew EVP, Chief Risk Officer | Award | 30,549 | $0 |
| Feb 19, 2026 | Neczypor Christopher M EVP & CFO | Award | 48,925 | $0 |
| Feb 19, 2026 | Neczypor Christopher M EVP & CFO | Tax withheld | 19,970 | $800.8K |
| Feb 19, 2026 | Neczypor Christopher M EVP & CFO | Award | 41,148 | $0 |
| Feb 19, 2026 | Kennedy John Christopher EVP, Chief Dist. & Brand Off | Award | 22,026 | $0 |
| Feb 19, 2026 | Kennedy John Christopher EVP, Chief Dist. & Brand Off | Tax withheld | 7,353 | $294.9K |
| Feb 19, 2026 | Kennedy John Christopher EVP, Chief Dist. & Brand Off | Award | 16,085 | $0 |
| Feb 19, 2026 | Reid James Waltman EVP, Pres. Workplace Solutions | Award | 42,810 | $0 |
| Feb 19, 2026 | Woodroffe Sean EVP, Ch Ppl Culture Comms Off | Award | 53,368 | $0 |
| Feb 19, 2026 | Woodroffe Sean EVP, Ch Ppl Culture Comms Off | Tax withheld | 19,037 | $763.4K |
| Feb 19, 2026 | Woodroffe Sean EVP, Ch Ppl Culture Comms Off | Award | 22,444 | $0 |
| Feb 19, 2026 | Beazer CraigT T EVP & General Counsel | Award | 30,142 | $0 |
| Feb 19, 2026 | Beazer CraigT T EVP & General Counsel | Tax withheld | 11,413 | $457.7K |
| Feb 19, 2026 | Beazer CraigT T EVP & General Counsel | Award | 21,198 | $0 |
| Feb 19, 2026 | Charters Jennifer EVP, Chief Information Officer | Award | 18,704 | $0 |
| Feb 19, 2026 | Cohen Adam M CAO | Award | 8,266 | $0 |
| Feb 19, 2026 | Cohen Adam M CAO | Tax withheld | 2,272 | $91.1K |
| Feb 19, 2026 | Cohen Adam M CAO | Award | 9,337 | $0 |
| Feb 19, 2026 | Cooper Ellen Chairman, President & CEO | Award | 189,295 | $0 |
| Feb 19, 2026 | Cooper Ellen Chairman, President & CEO | Tax withheld | 80,413 | $3.22M |
| Feb 19, 2026 | Cooper Ellen Chairman, President & CEO | Award | 28,992 | $0 |
| Feb 19, 2026 | Cooper Ellen Chairman, President & CEO | Tax withheld | 12,316 | $493.9K |
| Feb 18, 2026 | Reid James Waltman EVP Workplace Solutions | Sale | 3,050 | $127.5K |
| Feb 15, 2026 | Reid James Waltman EVP Workplace Solutions | Tax withheld | 7,338 | $300.0K |
| Feb 15, 2026 | Cohen Adam M CAO | Tax withheld | 1,260 | $51.5K |
| Feb 15, 2026 | Kennedy John Christopher EVP, Chief Dist. & Brand Off | Tax withheld | 3,069 | $125.5K |
| Feb 15, 2026 | Neczypor Christopher M EVP & CFO | Tax withheld | 5,162 | $211.0K |
| Feb 15, 2026 | Beazer CraigT T EVP & General Counsel | Tax withheld | 4,195 | $171.5K |
| Feb 15, 2026 | Cooper Ellen President & CEO | Tax withheld | 18,669 | $763.2K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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