Loews (L -0.6%) Q2 income from continuing operations of $303M or $0.79 per share vs. $261M and $0.67 a year ago.
Book value per share excluding AOCI of $49.74 vs. $49.38 at end of Q1, and current price of $42.10. 3.9M shares repurchased during Q2 for a total of $171M. Another 2.5M shares were bought back during July. Current float is 383M shares.
Improved results at Loews came primarily from better earnings at CNA Financial along with improved performance in the trading portfolio. A 52% decline in Diamond Offshore quarterly profit helped to offset.
Conference call at 11 ET
Previously: Loews EPS of $0.79
Previously: CNA Financial beats by $0.18