earnings
confidence high
sentiment positive
materiality 0.75
Loews Q2 net income up 14% to $444M; all subsidiaries contribute to growth
LOEWS CORP
- Net income $444M ($2.16/sh) vs $391M ($1.87/sh) YoY; book value ex-AOCI rose to $99.27 from $95.89.
- CNA net income attributable to Loews $294M (+7%); P&C combined ratio 96.5% vs 94.1% on higher loss costs.
- Boardwalk net income $100M (+14%); EBITDA $279M on higher gas transportation rates and product sales.
- Loews Hotels net income $48M (+71%); Adjusted EBITDA $137M (+26%) on higher occupancy (81%) and ADR (+7%).
- Loews repurchased 1.4M shares for $146M in Q2; parent cash & investments $4.4B.