LNC - Lincoln Financial stock slumps as pandemic cuts into Q4 earnings

Lincoln Financial Group (LNC) slides 3.9% in after-hours trading after Q4 earnings were hurt by the pandemic's effects on its Life Insurance and Group Protection segments.Q4 adjusted income from operations was $1.78 per share vs. $1.91 consensus estimate and $2.41 in the year-ago quarter.Q4 revenue of $4.14B vs. $4.34B a year earlier; total adjusted operating revenue of $4.66B increased from $4.51B a year ago; consensus estimate is $4.61B.Operating revenue in all four business segments rose Y/Y.Q4 adjusted operating ROE, excluding AOCI, of 10.1% fell from 13.9% a year ago.Book value per share, excluding AOCI, was $71.59 at Dec. 31, 2020 vs. $71.27 at Dec. 31, 2019.For the quarter, annuities net income from operations of $289M, rose 7% Y/Y, driven by higher account values from strong equity market performance; net outflows were $644M.Retirement Plan services income from operations of $49M rose 4% Y/Y, driven primarily by favorable returns within the company’s alternative investment portfolio and higher

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Lincoln Financial stock slumps as pandemic cuts into Q4 earnings