Lincoln National Corp. today reported first-quarter earnings of $329 million, or $1.21 per diluted share, a 38 percent increase from the $239 million, or 86 cents a share, posted for the same three months of 2013.
The Radnor, Pa., company also reported first-quarter revenue of $3.18 billion, a 12 percent increase from last year’s first-quarter revenue of $2.84 billion.
Lincoln, which was founded in Fort Wayne in 1905, reported earnings after markets closed.
Like other financial services companies, Lincoln manages investment and annuity accounts invested in the stock market. The company, which assesses fees based on a percentage of customers’ account balances, collects more money when those balances rise, tying Lincoln’s earnings closely to the stock markets’ performance.