RADNOR, Pa. (AP) — RADNOR, Pa. (AP) — Lincoln National Corp. (LNC) on Wednesday reported fourth-quarter net income of $6 million.
The Radnor, Pennsylvania-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 97 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The insurance and retirement business posted revenue of $4.2 billion in the period. Its adjusted revenue was $4.68 billion, exceeding Street forecasts. Five analysts surveyed by Zacks expected $4.52 billion.
For the year, the company reported a loss of $2.23 billion, or $13.10 per share, swinging to a loss in the period. Revenue was reported as $18.67 billion.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
