Stock Monitor: American Equity Investment Life Holding Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 1, 2018 / If you want access to our free earnings report on Lincoln National Corp. (NYSE: LNC) ("Lincoln"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LNC. The Company posted its financial results on May 02, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company's consolidated adjusted net income per diluted share grew 2.6% y-o-y, outperforming Wall Street's estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for American Equity Investment Life Holding Company (NYSE: AEL), which also belongs to the Financial sector as the Company Lincoln National. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lincoln National most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During Q1 FY18, Lincoln reported total revenues of $3.61 billion, rising from the $3.50 billion recorded at the end of Q1 FY17. However, the Company's total revenue numbers for the reported quarter missed market expectations of $3.72 billion. Meanwhile, the Company's total adjusted operating revenues grew to $3.65 billion in Q1 FY18 from $3.58 billion in Q1 FY17.
The insurance and retirement business Company reported a net income available to common stockholders of $365 million, or $1.64 per diluted share, in Q1 FY18, which came in lower than $435 million, or $1.89 per diluted share, in Q1 FY17. Furthermore, the Company's adjusted income from operations improved to $441 million, or $1.97 per diluted share, during Q1 FY18 from $442 million, or $1.92 per diluted share, in Q1 FY17. Moreover, market analysts had forecasted the Company to report an adjusted income of $1.94 per diluted share for Q1 FY18.
Operating Metrics
For the three months ended March 31, 2018, the Radnor, Pennsylvania-based Company's total expenses were $3.17 billion compared to $3.03 billion in Q1 FY17. The Company's income before income tax expenses came in at $435 million in Q1 FY18 versus $475 million in the year ago comparable quarter.
Lincoln reported a return on equity (ROE), including AOCI, of 8.8% in Q1 FY18 compared to 11.8% in Q1 FY17. The Company's ROE, excluding AOCI, was 13.0% in the reported quarter compared to 13.6% in Q1 FY17. The Company's book value per share, including AOCI, was $73.09 as on March 31, 2018, versus $66.58 as on March 31, 2017. Furthermore, the Company's book value per share, excluding AOCI, stood at $62.88 as on March 31, 2018, compared to $58.37 as on March 31, 2017.
Segment Performance
Annuities - The segment's total operating revenues improved marginally to $1.07 billion in Q1 FY18 from $1.06 billion in Q1 FY17. However, the segment's income from operations fell to $267 million in Q1 FY18 from $281 million in the year ago same quarter.
Retirement Plan Services - During Q1 FY18, the segment's revenues were $292 million compared to $282 million in the prior year's corresponding quarter. The segment's income from operations was $43 million in Q1 FY18 compared to $37 million in Q1 FY17.
Life Insurance - The segment generated revenues of $1.66 billion in Q1 FY18 compared to $1.61 billion in Q1 FY17. The segment's income from operations increased to $144 million in Q1 FY18 from $130 million in Q1 FY17.
Group Protection - For Q1 FY18, the segment reported revenues of $553 million versus $541 million in the year ago comparable quarter. Furthermore, the segment's income from operations came in at $29 million in Q1 FY18, up from $7 million in Q1 FY17.
Other Operations - The segment's adjusted revenues were $67 million in Q1 FY18, which came in below the $88 million reported in the year ago same quarter. The segment posted a loss from operations of $42 million in the reported quarter versus a loss from operations of $13 million in Q1 FY17.
Balance Sheet
Lincoln generated $140 million of cash from its operating activities in Q1 FY18 compared to $109 million in Q1 FY17. The Company had a cash and invested cash balance of $2.26 billion as on March 31, 2018, compared to $1.63 billion at the close of books on December 31, 2017. Furthermore, the Company's long-term debt stood at $5.65 billion at the end of the reported quarter compared to $4.89 billion as on December 31, 2017.
Dividend
In a separate press release on May 25, 2018, Lincoln's Board of Directors declared a quarterly cash dividend of $0.33 per share on its common stock. The dividend will be payable on August 01, 2018, to shareholders of record at the close of business on July 10, 2018.
Stock Performance Snapshot
May 31, 2018 - At Thursday's closing bell, Lincoln National's stock fell 1.21%, ending the trading session at $66.29.
Volume traded for the day: 1.98 million shares, which was above the 3-month average volume of 1.59 million shares.
Stock performance in the past twelve-month period — up 2.02%
After yesterday's close, Lincoln National's market cap was at $14.61 billion.
Price to Earnings (P/E) ratio was at 21.05.
The stock has a dividend yield of 1.99%.
The stock is part of the Financial sector, categorized under the Life Insurance industry.
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