Loews Q1 2023 Earnings Report
Key Takeaways
Loews Corporation reported a net income of $375 million, or $1.61 per share, in the first quarter of 2023, compared to $322 million, or $1.29 per share, in the first quarter of 2022. The increase was driven by higher investment returns at the Parent Company and improved results at Loews Hotels & Co.
Loews Corporation reported net income of $375 million, or $1.61 per share, in the first quarter of 2023 compared to $322 million, or $1.29 per share, in the first quarter of 2022.
The increase in net income was driven by higher investment returns at the Parent Company and improved results at Loews Hotels & Co.
Loews repurchased 8.2 million shares for a total cost of $486 million, which represents nearly 3.5% of its shares outstanding at the beginning of the quarter.
Book value per share increased to $63.41 at March 31, 2023, from $60.81 at December 31, 2022 due to repurchases of common shares and operating results during the quarter.
Loews
Loews
Loews Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the release.