Lutherans teach that our Lord Jesus Christ “will come again to judge the living and the dead” (Apostles’ Creed).
As Scripture teaches, Christ will come once at the end of time, not to "rapture” believers away from earth, nor to establish an earthly kingdom, nor to begin a thousand year reign on earth, but to separate the believers from the unbelievers (Matthew 25:32–33) and to give each of them their eternal reward or punishment.
On the Last Day, those who have rejected Christ, along with the devil and his evil angels, “will go away to eternal punishment” while those who trust in Christ and His forgiveness, life, and salvation will go “into eternal life” (Matthew 25:46).
Other blog posts describing what Lutherans teach: