Welcome to our dedicated page for Loews Corporation news (Ticker: L), a resource for investors and traders seeking the latest updates and insights on Loews Corporation stock.
Loews Corporation (NYSE: L) stands as a multifaceted holding company with diverse business operations. Its primary subsidiaries include CNA Financial Corporation (NYSE: CNA), a prominent property and casualty insurance entity providing services such as risk management, information services, and claims administration. Another significant subsidiary, Diamond Offshore Drilling, Inc. (NYSE: DO), specializes in offshore oil and gas drilling rigs, catering to key players in the energy sector. Additionally, Loews owns Boardwalk Pipeline Partners, LP (NYSE: BWP), which excels in the transportation, storage, and processing of natural gas and natural gas liquids.
Furthermore, Loews Corporation wholly owns Loews Hotels & Resorts, a hospitality chain extending its reach across various strategic locations in the U.S. and beyond. The company champions a progressive, employee-centric work environment, fostering a culture where innovation and collaboration thrive.
In recent developments, Loews Corporation reported net income of $253 million for the third quarter of 2023, marking a substantial turnaround from a net loss in the same period of the previous year. This financial uplift is attributed to focused strategic initiatives and efficient operational management across its subsidiaries.
The company recently expanded its hospitality footprint with the opening of the Loews Arlington Hotel and Convention Center in Texas. This state-of-the-art facility features 888 guest rooms, extensive meeting spaces, and modern amenities, reinforcing Loews' commitment to excellence in the hospitality industry.
Loews Corporation invites stakeholders to stay informed about its continuous growth and financial health, consistently delivering valuable updates and insights through its official channels. Visit www.loews.com for more information.
Loews (NYSE: L) has announced it will release its third quarter 2024 financial results on Monday, November 4, 2024. The company will also post earnings remarks on its website, featuring commentary from CEO James S. Tisch and CFO Jane Wang. Loews is inviting shareholders to submit questions for management in advance, which may be addressed in the earnings remarks. Questions can be submitted to cnugent@loews.com, and contributors will remain anonymous. Both the news release and earnings remarks will be available on the Loews website (www.loews.com).
Loews (NYSE: L) has announced a favorable resolution in the litigation concerning its 2018 acquisition of minority partner interests in Boardwalk Pipelines. The Delaware Court of Chancery found no liability in connection with the acquisition, overturning a previous ruling from November 2021 that had awarded approximately $690 million plus interest to former minority unitholders. This decision follows the Delaware Supreme Court's reversal of the initial ruling in December 2022. Loews CEO James S. Tisch expressed satisfaction with the ruling, stating that the company believes the 2018 acquisition process was appropriate. The company hopes this ruling will resolve the litigation definitively.
Loews (NYSE: L) has declared a quarterly dividend of $0.0625 per share on its Common Stock. The dividend is payable on September 3, 2024 to shareholders of record at the close of business on August 21, 2024. Loews is a diversified company with interests in various sectors including insurance, energy, hospitality, and packaging industries. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite the diverse nature of its business portfolio.
Loews (NYSE: L) has announced a significant leadership transition. James Tisch will retire as President & CEO on December 31, 2024, to be succeeded by Benjamin Tisch, the current Senior Vice President of Corporate Development and Strategy. James Tisch will become Chairman of the Board of Directors, while Benjamin Tisch and Alexander Tisch (CEO of Loews Hotels & Co) will join the Board. Andrew Tisch and Jonathan Tisch will transition to Directors Emeriti.
The Board of Directors expressed confidence in Benjamin Tisch's leadership abilities, citing his deep knowledge of Loews and his decade-long experience with the company. James Tisch's 25-year tenure as CEO was praised for creating substantial shareholder value through strategic capital allocation and portfolio management, reducing the share count by two-thirds.
Loews (NYSE: L) reported net income of $369 million, or $1.67 per share, in Q2 2024, up from $360 million in Q2 2023. Excluding a prior period gain, net income increased 14% year-over-year, driven by CNA Financial and Boardwalk Pipelines. CNA's net income improved due to higher net investment income, while Boardwalk's results benefited from increased revenues. Book value per share, excluding AOCI, rose to $85.42 as of June 30, 2024. The company repurchased 2.4 million shares for $180 million in Q2 2024. Key highlights include:
- CNA's net income attributable to Loews increased 14% to $291 million
- Boardwalk's net income rose 23% to $70 million
- Loews Hotels' net income decreased to $35 million from $74 million
- Parent company had $3.1 billion in cash and investments and $1.8 billion in debt
Loews (NYSE: L) announced it will release its second quarter 2024 financial results on Monday, July 29, 2024.
The company will post earnings remarks on its website, including commentary from CEO James S. Tisch and CFO Jane Wang.
Shareholders are invited to submit questions for management in advance via email at cnugent@loews.com. The management team may address these questions in their earnings remarks. The press release and remarks will be available on the Loews website.
Loews (NYSE: L) announced its quarterly dividend of $0.0625 per share of Common Stock.
The dividend will be payable on June 11, 2024, to shareholders of record as of May 29, 2024.
Loews operates in the insurance, energy, hospitality, and packaging sectors.
Loews reported net income of $457 million for the first quarter of 2024, representing a 22% increase over the same period last year. Key highlights include improvements in CNA Financial 's net income, Boardwalk Pipelines' results, and parent company investment returns. Book value per share increased to $83.68 as of March 31, 2024. The company also repurchased 0.9 million shares of its common stock for $67 million since December 31, 2023.
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