Lincoln National Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 5, 2026, reporting third-quarter net income of $1.399 billion and diluted earnings per share of $6.77.

Key Highlights

  • Net income of $1.399 billion for the three months ended September 30, 2026, compared to $445 million in the same period of 2025, according to the filing.
  • Diluted EPS of $6.77 for Q3 2026, up from $2.12 in Q3 2025; nine-month diluted EPS reached $12.42 versus $1.87 for the same period in 2025.
  • Total revenues of $5.481 billion for the third quarter of 2026, compared to $4.555 billion in Q3 2025, driven in part by net investment income of $1.724 billion.
  • Market risk benefit gain of $1.017 billion recorded as an expense reduction in Q3 2026, compared to a gain of $343 million in Q3 2025.
  • Total assets of $418.695 billion as of September 30, 2026, versus $417.204 billion as of December 31, 2025.
  • Repurchase of Series C preferred stock resulted in a $262 million reduction to preferred stock balance and a $36 million preferred stock repurchase premium recorded in the quarter.
  • 190,420,659 shares of common stock issued and outstanding as of September 30, 2026, per the filing.

Lincoln National's Third-Quarter 2026 Financial Results and Balance Sheet Position

According to the Form 10-Q filed for NYSE:LNC, Lincoln National Corporation reported total revenues of $5.481 billion for the three months ended September 30, 2026, up from $4.555 billion in the comparable prior-year quarter. Net investment income rose to $1.724 billion from $1.544 billion, while insurance premiums increased to $1.665 billion from $1.637 billion. The company also reported a realized gain of $442 million in Q3 2026, compared to a realized loss of $216 million in Q3 2025.

Total expenses for the third quarter were $3.746 billion, down from $4.031 billion in Q3 2025. The decline was largely attributable to a market risk benefit gain of $1.017 billion, which reduced total expenses in the period. Income before taxes reached $1.735 billion for Q3 2026, compared to $524 million in the prior-year quarter. Federal income tax expense was $336 million for the quarter. After preferred stock dividends of $34 million and a $36 million preferred stock repurchase premium, net income available to common stockholders was $1.329 billion, or $6.90 per basic share and $6.77 per diluted share.

On the balance sheet as of September 30, 2026, total investments stood at $139.291 billion, with fixed maturity available-for-sale securities at fair value of $91.075 billion. Policyholder account balances totaled $140.342 billion, and separate account assets were $182.209 billion. Total stockholders' equity was $9.424 billion, down from $10.906 billion at December 31, 2025, reflecting accumulated other comprehensive loss of $7.278 billion, which the filing attributes in part to unrealized investment losses. Cash dividends declared per common share were $0.45 for the quarter and $1.35 for the nine months ended September 30, 2026.

What Was Disclosed

Lincoln National Corporation disclosed its unaudited financial results for the three and nine months ended September 30, 2026, including income statements, balance sheet data, stockholders' equity changes, and cash flow information, along with accompanying notes covering investments, reinsurance, derivatives, and segment results.