Lincoln National Q4 net income $1.7 billion; adjusted operating income $332 million
Lincoln National reported fourth-quarter 2024 net income available to common stockholders of $1.7 billion, or $9.63 per diluted share, compared with a loss of $1.2 billion a year earlier. Adjusted operating income available to common stockholders rose to $332 million, or $1.91 per diluted share, from $252 million, and the company said the large net income figure was driven mainly by non-economic items such as a $1.2 billion pre-tax change in market risk benefits. For shareholders, the headline earnings measures improved, but the reported net income is heavily affected by items the company excludes from its adjusted figures.
Key points
- Q4 2024 net income available to common stockholders was $1.7 billion, or $9.63 per diluted share, versus a loss of $1.2 billion, or $7.35 per share, in Q4 2023
- Q4 2024 adjusted operating income available to common stockholders was $332 million, or $1.91 per diluted share, versus $252 million, or $1.47 per share, a year earlier
- Full-year 2024 adjusted operating income available to common stockholders was $1.2 billion, or $7.07 per diluted share, versus $5.32 in 2023
- Group Protection reported Q4 operating income of $107 million with an 8.4% margin, while Life Insurance posted an operating loss of $15 million
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 06, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.