Loews Q1 net income $457M ($2.05 EPS), +22% YoY; Boardwalk CEO Horton retiring in June

LOEWS CORP

2024-Q1 EPS reported $2.05 revenue$4,231,000,000

Net income $457M ($2.05 diluted EPS) vs $375M ($1.61) in Q1 2023, up 22% year-over-year.
CNA contributed $310M (+16% YoY) driven by higher net investment income; core income $355M, up 9%.
Boardwalk net income $121M (+41% YoY); EBITDA $307M (+20%); CEO Stan Horton retiring in June, succeeded by Scott Hallam.
Loews Hotels net income $16M (down from $24M) due to lower Orlando occupancy and pre-opening expenses at new Arlington property.
Parent company held $3.2B cash/investments; repurchased 0.9M shares for $67M since Q4 2023.

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 first quarter of 2024 results: net income $457 million, EPS $2.05 per share.

Period: first quarter of 2024
Net income: $457 million
EPS: $2.05 per share
Result: reported results

Exact text from the filing

Loews Corporation reported net income of $457 million, or $2.05 per share, in the first quarter of 2024, which represents a 22% increase over $375 million, or $1.61 per share, in the first quarter of 2023.

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Source: SEC EDGAR

accession 0000060086-24-000083

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