Loews Q4 2023 Earnings Report
Key Takeaways
Loews Corporation reported a strong fourth quarter in 2023, with a net income of $446 million, representing a 26% increase compared to the same period in 2022. The positive results were driven by improved performance across its subsidiaries, including CNA Financial, Boardwalk Pipelines, and Loews Hotels & Co.
Net income attributable to Loews Corporation increased to $446 million, or $1.99 per share, compared to $355 million, or $1.49 per share, in Q4 2022.
CNA Financial Corporation's net income improved due to higher net investment income and higher underwriting income.
Boardwalk Pipelines' results improved due to higher revenues from re-contracting.
Loews Corporation repurchased 2.1 million shares of its common stock for a total cost of $141 million during the quarter.
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Loews Revenue by Segment
Forward Guidance
The report does not contain specific forward guidance. It mentions that Loews may from time to time purchase shares of its and its subsidiaries’ outstanding common stock depending on market conditions.