LNC - Lincoln National Non-GAAP EPS of -$10.23 misses by $12.02 revenue of $4.8B beats by $410M

• Lincoln National press release ( NYSE: LNC ): Q3 Non-GAAP EPS of -$10.23 misses by $12.02 .
• Revenue of $4.8B (-8.4% Y/Y) beats by $410M .
• Shares -17% .
• “The significant charge we recorded during the third quarter and the statutory capital impact to be booked at the end of 2022 resulted from our annual assumption review primarily due to policyholder lapsation behavior in our guaranteed universal life insurance block and will contribute to a decline in our RBC ratio,” said Ellen Cooper, president and CEO of Lincoln Financial Group. “We are confident we have ample capital to effectively operate the business as we replenish statutory capital back to our targeted level.”

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