)

Lincoln National Corporation (LNC) investor relations material
Lincoln National Corporation Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Adjusted operating income rose 32% year over year to $427M, marking the fourth consecutive quarter of growth and reflecting strategic repositioning and operational efficiency.
Net income for Q2 2025 was $688M–$699M, down from the prior year, impacted by capital market volatility and one-time items.
Group Protection achieved record earnings, up 33% year over year, with a margin of 12.5%.
Closed partnership transaction with Bain Capital, raising $825M to support strategic priorities and capital position.
Life Insurance returned to positive operating income of $32M, supported by improved mortality and investment income.
Financial highlights
Q2 2025 adjusted operating income was $427M ($2.36 per diluted share), up from $324M in Q2 2024.
Net income per diluted share was $3.80–$3.88; revenues were $4.04B, down from $5.15B in Q2 2024.
Group Protection delivered record operating earnings of $173M, up 33% year over year, with a margin of 12.5%.
Life Insurance sales rose 15% year over year; Group Protection sales grew 16% year over year.
Stockholders' equity rose to $9.55B; book value per share (excluding AOCI) was $67.95.
Outlook and guidance
Group Protection margin for 2025 expected to be broadly in line with 2024, with a projected 9%+ margin for the year.
Free cash flow conversion guidance of 45–60% for 2026 remains intact, with potential to exceed as Bain capital is deployed.
Management expects to deploy new capital toward growth in spread-based earnings and legacy life portfolio optimization.
Anticipates positive net flows in Retirement Plan Services in the third quarter, supported by a strong sales pipeline.
Ongoing focus on maintaining an RBC ratio above 400% and improving operational efficiency.
Next Lincoln National Corporation earnings date

Next Lincoln National Corporation earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage