Lincoln National Beats 3Q Profit Forecasts
RADNOR, Pa. (AP) _ Lincoln National Corp. (LNC) on Wednesday reported third-quarter net income of $467 million.
The Radnor, Pennsylvania-based company said it had net income of $2 per share. Earnings, adjusted for non-recurring gains and pretax gains, were $1.83 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The insurance and retirement business posted revenue of $3.53 billion in the period.
Lincoln National shares have decreased roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 3 percent. In the final minutes of trading on Wednesday, shares hit $48.46, a fall of 11 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
Keywords: Lincoln National, Earnings Report
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