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Lincoln National (LNC) Q1 FY2024 earnings: revenue $4.1 billion, up 7.9% on the year

Lincoln National Corp. (LNC) reported revenue of $4.1 billion for Q1 FY2024, the quarter ended 31 March 2024, up 7.9% on the same quarter a year earlier. Net income was $1.2 billion, and diluted earnings per share $6.93. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2024.

Revenue$4.1 billionup 7.9%
Net income$1.2 billion
Diluted EPS$6.93
QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Revenue4,116699n/an/a
Operating income1,528-1,614n/an/a
Operating margin37.1%-230.9%n/a
Interest expense81.080.0n/an/a
Pre-tax income1,528-1,614n/an/a
Income tax306-379n/an/a
Effective tax rate20.0%n/an/a
Net income1,222-1,235n/an/a
Net margin29.7%-176.7%n/a
Diluted EPS$6.93-$7.35n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Operating cash flow-1,343-1,868n/an/a
Cash from investing1,639-714n/an/a
Cash from financing4613,418n/an/a
Dividends paid77.076.0n/an/a
Dividend per share$0.45n/an/an/a
Diluted shares, weighted172m171mn/an/a
Shares outstanding at period end170m170mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Shareholders' equity7,5466,893n/an/a
Debt6,2295,949n/an/a
Other liabilities369,606359,571n/an/a
Total liabilities and equity383,381372,413n/an/a
Goodwill1,1441,144n/an/a
Securities held for sale or to maturity87,76488,738n/an/a
Loans19,26618,963n/an/a
Cash and equivalents4,1223,365n/an/a
Other assets271,085260,203n/an/a
Total assets383,381372,413n/an/a

Questions

What was Lincoln National's revenue in Q1 FY2024?

Lincoln National (LNC) reported revenue of $4.1 billion for Q1 FY2024, the quarter ended 31 March 2024, up 7.9% on the same quarter a year earlier.

How much did Lincoln National earn in Q1 FY2024?

Net income for Q1 FY2024 was $1.2 billion, and diluted earnings per share $6.93.

When did Lincoln National report Q1 FY2024 results?

Lincoln National filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 2 May 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue4,2036994,1165,1534,1115,0624,6914,0444,5554,9225,3064,542
Operating income1,034-1,6141,5281,096-7032,101-949848524915-2461,643
Operating margin25%-231%37%21%-17%42%-20%21%12%19%-5%36%
Interest expense84.080.081.086.086.083.080.0n/an/an/an/an/a
Pre-tax income1,034-1,6141,5281,096-7032,101-949848524915-2461,643
Tax rate18%n/a20%18%n/a20%n/a18%15%17%n/a19%
Net income853-1,2351,222895-5281,686-722699445755-1721,332
Net margin20%-177%30%17%-13%33%-15%17%10%15%-3%29%
Diluted EPS$4.79-$7.35$6.93$5.11-$3.29$9.63-$4.41$3.80$2.12$3.80-$1.10$6.72
Operating cash flow46.0-1,868-1,343-859-27.0222-2721,013-1,141233138-558
Dividends paid76.076.077.076.077.077.077.076.086.086.086.086.0
Shares outstanding170m170m170m170m170m170m171m190m190m190m191m191m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 2 May 2024, accession 0000059558-24-000024: the filing on EDGAR. All of Lincoln National Corp.'s filings: EDGAR company page.

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