Lincoln National posts $756 million Q1 net loss; adjusted operating income $280 million
Lincoln National reported a first-quarter 2025 net loss available to common stockholders of $756 million, or $4.41 per diluted share, compared with net income of $1,191 million a year earlier. The company said the loss mainly reflected changes in market risk benefits from lower interest rates and equity markets, while adjusted operating income rose to $280 million, or $1.60 per diluted share, from $210 million, or $1.22.
Key points
- Net loss available to common stockholders was $756 million, or $4.41 per diluted share, versus net income of $1,191 million, or $6.93 per diluted share, in Q1 2024.
- Adjusted operating income available to common stockholders was $280 million, or $1.60 per diluted share, up from $210 million, or $1.22.
- Group Protection operating income rose 26% to $101 million, with an operating margin of 7.4%.
- A minority investment from Bain Capital is expected to close in the second half of 2025.
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 May 08, 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.