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Jun 30, 2024
Loews Q2 2024 Earnings Report
Loews reported a net income of $369 million for Q2 2024, driven by strong results at CNA and Boardwalk.
Key Takeaways
Loews Corporation reported a net income of $369 million, or $1.67 per share, in the second quarter of 2024. Excluding the prior period’s $36 million gain at Loews Hotels, net income increased 14% year-over-year, driven by CNA and Boardwalk.
CNA Financial Corporation’s net income attributable to Loews improved year-over-year due to higher net investment income partially offset by higher catastrophe losses.
Boardwalk Pipelines’ results improved year-over-year mainly due to increased revenues from re-contracting at higher rates and recently completed growth projects.
Book value per share, excluding AOCI, increased to $85.42 as of June 30, 2024, from $81.92 as of December 31, 2023 due to strong operating results and repurchases of common shares during the year.
As of June 30, 2024, the parent company had $3.1 billion of cash and investments and $1.8 billion of debt.
Revenue by Segment
Forward Guidance
Loews had another good quarter driven by strong results at CNA and Boardwalk. CNA continued to experience profitable growth while Boardwalk capitalized on strong fundamentals in the natural gas pipeline business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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