Lincoln National (NYSE: LNC) reported Q2 EPS of $0.97, $0.42 worse than the analyst estimate of $1.39.

“Second quarter results were impacted by elevated claims experience from COVID-19 and negative returns within our alternative investment portfolio, consistent with our expectations,” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “Based on what we know today, we expect earnings to recover to more normal levels in the third quarter, excluding potential impacts from our annual assumption review. During these unpredictable times, we remain focused on further improving our already strong balance sheet, achieving appropriate returns on capital, and executing initiatives to improve productivity and lower expenses, which will drive long-term shareholder value.”

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