Loews Q2 2020 Earnings Report
Key Takeaways
Loews Corporation reported a net loss of $835 million for the second quarter of 2020, compared to a net income of $249 million in the second quarter of 2019. The results were primarily impacted by an investment loss from Diamond Offshore Drilling, significant catastrophe losses at CNA Financial Corporation, and operating losses at Loews Hotels & Co.
Loews Corporation reported a net loss of $835 million, or $2.96 per share, for the three months ended June 30, 2020.
The net loss was driven by an investment loss of $957 million related to Diamond Offshore Drilling's bankruptcy filing.
CNA Financial Corporation experienced significant catastrophe losses during the quarter.
Loews Hotels & Co. faced operating losses due to the COVID-19 pandemic.
Loews
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Loews Revenue by Segment
Forward Guidance
The full impact of COVID-19 on Loews and its businesses will depend on the pandemic's duration and scope, economic policies, and other responses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income