Lincoln National (NYSE: LNC) reported Q3 EPS of $2.01, which may not compare to the analyst estimate of $2.03. The company reported adjusted operating EPS of $(0.72). Adjusted operating EPS included $(3.07) from notable items, elevated claims experience from COVID-19, and above targeted alternative investment income

“Third quarter results were impacted by our annual review process, predominantly from adjustments to our interest rate assumptions, and elevated claims related to the pandemic,” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “Importantly, excluding these factors, our operating results would have been consistent with our strong track record of financial performance. Our focus on achieving targeted returns on capital has slowed sales momentum and our reprice, shift and add new product strategy positions us to achieve sales growth in 2021. Additionally, we are resuming buybacks in the fourth quarter, and the board approved an increase in our dividend per share, reflecting our strong balance sheet and positive outlook.”

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