Lincoln National Beats 2Q Profit Forecasts

RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported second-quarter net income of $411 million.

The Radnor, Pennsylvania-based company said it had profit of $1.81 per share. Earnings, adjusted for non-recurring costs, were $1.85 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.

The insurance and retirement business posted revenue of $3.58 billion in the period.

Lincoln National shares have climbed 11 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. In the final minutes of trading on Wednesday, shares hit $73.30, an increase of 71 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LNC at https://www.zacks.com/ap/LNC

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