Loews Corporation (L) Releases Earnings Results, Misses Expectations By $-0.22 EPS

Loews Corporation (L) reported quarterly earnings results on Monday, May-2-2016. The company reported $0.30 earnings per share for the quarter, missing the analyst consensus estimate by $-0.22. Analysts had a consensus of $0.52. The company posted revenue of $3173.00 million in the period. The company’s revenue was down -8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Loews Corporation opened for trading at $40.14 and hit $40.5 on the upside on Wednesday, eventually ending the session at $40.24, with a gain of 0.37% or 0.15 points. The heightened volatility saw the trading volume jump to 8,18,959 shares. Company has a market cap of $13,641 M.

In a different news, on Mar 22, 2016, Gary W Garson (Sr. Vice Pres., GC & Sec.) sold 4,857 shares at $38.92 per share price. According to the SEC, on Mar 3, 2016, Ann E Berman (director) sold 1,500 shares at $36.79 per share price. On Mar 3, 2016, Philip A Laskawy (director) sold 1,500 shares at $36.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Loews Corporation is a holding company. The Company through its subsidiaries is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling Inc. (Diamond Offshore); Boardwalk Pipeline Partners LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels). CNA’s insurance products primarily include commercial property and casualty coverages including surety. Diamond Offshore is engaged in the business of operating drilling rigs. Boardwalk Pipeline is engaged in natural gas and natural gas liquids transportation and storage and natural gas gathering and processing. The subsidiaries of Loews Hotels Holding Corporation operate a chain of 21 hotels.

Loews Corporation

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