- The Highmount bet "shows we are not always right," says Loews (L -0.6%) management on the earnings call. Persistently low natural gas prices and the continued grim outlook had Loews taking a $167M charge in Q2 against Highmount Exploration and Production as it evaluates proposals for a sale of the company's assets.
- While Loews' income from continuing operations improved thanks to investment gains and improvement at CNA Financial, overall net income fell to $116M or $0.30 per share from $269M and $0.69 a year earlier thanks to the writedown.
- Previously: More on Loews results
From other sites
at Investor's Business Daily (Feb 26, 2015)
at Nasdaq.com (Feb 25, 2015)
at MarketWatch.com (Dec 31, 2014)
at MarketWatch.com (Dec 22, 2014)
at CNBC.com (Dec 9, 2014)
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