Loews Q2 2023 Earnings Report

Loews reported net income for the second quarter of 2023, driven by higher net income from subsidiaries and increased net investment income at the parent company.

Key Takeaways

Loews Corporation reported a strong second quarter in 2023, with net income reaching $360 million, a significant increase from $167 million in the same period last year. This growth was fueled by improved performance across its consolidated subsidiaries, particularly CNA Financial, and higher investment income at the parent company.

Net income for Q2 2023 was $360 million, or $1.58 per share, compared to $167 million, or $0.68 per share, in Q2 2022.

CNA Financial Corporation's net income attributable to Loews Corporation improved to $255 million from $170 million.

Loews Hotels & Co’s net income increased $30 million to $74 million compared to $44 million.

Loews Corporation repurchased 1.8 million shares of its common stock for a total cost of $107 million.

Total Revenue

$3.93B

Previous year: $3.39B