Loews Q3 net income $253M ($1.12/sh) vs loss $22M YoY; CNA results improve sharply

LOEWS CORP

2023-Q3 EPS reported $4.31 revenue$11,643,000,000

Net income $253M ($1.12 EPS) vs loss $22M ($0.09) in Q3 2022; includes $37M after-tax pension plan termination charge.
CNA net income improved to $235M from a loss of $37M YoY, driven by higher investment income and lower LTC reserve charge.
Loews repurchased 1.9M shares for $118M in Q3, plus 1.0M shares for $64M after quarter-end; also bought 4.5M CNA shares for $175M.
Book value per share ex-AOCI $79.92, up from $74.88 at Dec 2022.
Boardwalk acquired Bayou Ethane pipeline for $348M from Williams Companies on Sept 29.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LOEWS CORP reported the third quarter of 2023 results: net income $253 million, EPS $1.12 per share.

Period: the third quarter of 2023
Net income: $253 million
EPS: $1.12 per share
Result: reported results

Exact text from the filing

Loews Corporation reported net income of $253 million, or $1.12 per share, in the third quarter of 2023

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Source: SEC EDGAR

accession 0000060086-23-000173

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