Welcome to our dedicated page for Loews news (Ticker: L), a resource for investors and traders seeking the latest updates and insights on Loews stock.
Loews Corporation reports developments for a diversified holding company with businesses in insurance, energy, hospitality and packaging. Recurring updates cover quarterly and annual results, including contributions from CNA Financial, Boardwalk Pipelines, Loews Hotels & Co and the Corporate segment, along with business drivers such as insurance performance, natural gas transportation and storage activity, and hotel operations.
Company news also includes common-stock dividends, share repurchases, debt and capital-allocation activity, hotel portfolio development, and litigation updates related to the 2018 acquisition of minority limited partner interests in Boardwalk Pipelines.
Loews Corporation (NYSE: L) reported a significant net loss of $835 million, or $2.96 per share, for Q2 2020, compared to a profit of $249 million in Q2 2019. The loss was attributed to a $957 million investment write-down related to Diamond Offshore's bankruptcy, along with substantial catastrophe losses at CNA Financial and operating losses at Loews Hotels. For the six months ending June 30, 2020, the net loss was $1.47 billion, marking a substantial decline from a net income of $643 million in the same period last year. Book value per share decreased from $65.71 to $61.35.
Loews Corporation (NYSE: L) is set to announce its second quarter 2020 financial results on August 3, 2020, with a conference call for investors scheduled at 10:00 a.m. ET. CEO James S. Tisch and CFO David B. Edelson will host the call, inviting shareholders to submit questions beforehand. The press release and a live webcast will be accessible on the company's website. A replay will also be available until September 8, 2020. Loews operates in diversified sectors including insurance, energy, hospitality, and packaging.