Seeking Alpha

More on Loews results

  • 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
  • Previously: Diamond Offshore Drilling beats by $0.07, beats on revenue

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