earnings
confidence high
sentiment neutral
materiality 0.85
Loews Q3 net income $401M ($1.82/sh); CEO Tisch to step down within 2 months
LOEWS CORP
2024-Q3 EPS reported
$5.54
revenue$12,964,000,000
- Net income $401M ($1.82/sh) vs $253M ($1.12/sh) in Q3 2023; up 38% ex-pension charge.
- CNA earned premiums +8%, combined ratio 97.2% (94.3% prior); Hurricane Milton loss est. $25-55M pre-tax.
- Boardwalk EBITDA $249M (+23% YoY); Delaware court ruled for Loews in 2018 acquisition litigation.
- CEO James Tisch to step down in ~2 months, become Chairman; no successor named.
- Loews repurchased 0.8M shares in Q3 ($64M) and 1.2M in early Q4 ($92M).