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Dec 31, 2019
Loews Q4 2019 Earnings Report
Loews reported net income, driven by higher earnings at CNA Financial Corporation and Boardwalk Pipelines, as well as higher parent company net investment income, partially offset by lower results at Diamond Offshore Drilling, Inc. and Loews Hotels & Co.
Key Takeaways
Loews Corporation reported a net income of $217 million, or $0.73 per share, for the three months ended December 31, 2019, a significant improvement compared to a net loss of $165 million, or $0.53 per share, in the prior year period.
Net income increased due to higher earnings at CNA Financial Corporation and Boardwalk Pipelines.
Parent company net investment income also contributed to the increase in net income.
Lower results at Diamond Offshore Drilling, Inc. and Loews Hotels & Co partially offset the increases.
Results improved mainly due to increased net investment income at CNA and the parent company.
Loews
Loews
Loews Revenue by Segment
Forward Guidance
The company did not provide any forward guidance in the earnings report.