Q2 2025 Lincoln National Corp Earnings Call Transcript
Key Points
- Lincoln National Corp (LNC) reported a 32% year-over-year increase in adjusted operating income, marking the fourth consecutive quarter of growth.
- The Group Protection business delivered a record quarter for earnings with a 33% year-over-year increase and the highest-ever margin of 12.5%.
- Annuities generated its third highest sales quarter, supported by a diverse and balanced product mix, with fixed annuity sales increasing by 41% sequentially.
- Retirement Plan Services saw a year-over-year increase in total deposits, driven by strong first-year sales growth.
- Life insurance achieved positive earnings due to favorable mortality and improved expense management.
- Traditional variable annuity outflows contributed to a decline in annuities' operating income compared to the prior year.
- Retirement Plan Services reported a decline in operating earnings year-over-year, pressured by stable value outflows.
- The life insurance segment, while improved, still faces challenges with quarterly variability in mortality trends.
- The company anticipates potential margin headwinds in the Group business if LTD incidence rates revert to historical levels.
- Despite strong sales, RILA net flows were down year-over-year due to the aging of the block and increased outflows.
Good morning, and thank you for joining Lincoln Financial's 2025 Second Quarter Earnings Call. (Operator Instructions)
Now I would like to turn the call over to the Senior Vice President, Head of Investor Relations, Tina Madon. Please go ahead.
Thank you. Good morning, everyone, and welcome to our second quarter earnings call. We appreciate your interest in Lincoln. Our quarterly press release, earnings supplement and statistical supplement can all be found on the Investor Relations page of our website, www.lincolnfinancial.com. These documents include reconciliations of the non-GAAP measures used in today's call, including adjusted income from operations or adjusted operating income and adjusted income from operations available to common stockholders to their most comparable GAAP measures.
Before we begin, I want to remind you that any statements made during today's call regarding
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
