Earnings Releases·Nov 5, 2026, 6:02 AM ET

Lincoln Financial — Third Quarter 2026 Earnings Summary

Net income available to common stockholders surged to $1.3 billion ($6.77 per share) in Q3 2026, up from $411 million ($2.12 per share) in the prior-year quarter, while adjusted operating income declined to $339 million ($1.72 per share) from $397 million ($2.04 per share).
Segment performance showed mixed results: Annuities sales rose 21% sequentially to $4.3 billion with fixed annuity sales more than doubling, whereas Life Insurance sales dropped 64% year-over-year to $106 million and Group Protection operating income fell $33 million year-over-year.
The company resumed share repurchases with $50 million of common stock and retired $437 million of preferred stock, while holding company available liquidity increased to $1.0 billion.
Management confirmed the closing of a reinsurance transaction with Talcott in October as a final milestone in the 2023 plan to further de-risk the balance sheet, citing confidence in disciplined growth and increased free cash flow.
Book value per share excluding AOCI rose to $84.05 as of September 30, 2026, compared to $69.66 in the prior year, though the company reported a net unrealized loss of $12.4 billion on available-for-sale securities.