Loews Q4 2022 Earnings Report
Key Takeaways
Loews Corporation reported a strong fourth quarter, with net income of $364 million, or $1.53 per share, compared to $343 million, or $1.36 per share, in the fourth quarter of 2021. The increase in net income was driven by improved results at Boardwalk Pipelines and higher investment returns at the parent company.
Net income increased due to improved results at Boardwalk Pipelines and higher investment returns at the parent company.
Net income at CNA declined due to lower returns on limited partnership and common stock investments and higher net catastrophe losses, partially offset by improved underlying underwriting results.
Operating results at Loews Hotels & Co improved due to higher occupancy, but net income was lower due to accelerated state and local government grant payments in last year’s comparable period.
Loews repurchased 2.2 million shares of its common stock at an aggregate cost of $124 million.
Loews
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Loews Revenue by Segment
Forward Guidance
Loews may from time-to-time purchase shares of its and its subsidiaries’ outstanding common stock in the open market, in privately negotiated transactions or otherwise.