Loews Corp. (L) Reports Q3 EPS of $0.24
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Loews Corp. (NYSE: L) reported Q3 EPS of $0.24, versus $0.88 reported last year.
- Net income of $72 million, or $0.24 per share, for the three months ended September 30, 2019, compared to $278 million, or $0.88 per share, in the comparable prior year period.
- Net income for the nine months ended September 30, 2019 was $715 million, or $2.34 per share, compared to $801 million, or $2.49 per share, in the comparable prior year period.
- CNA's earnings decreased primarily due to a charge of $216 million ($151 million after tax and noncontrolling interests) resulting from the recognition of an active life reserve premium deficiency in long term care. Absent this charge, earnings decreased mainly due to unfavorable net prior year development in the Property & Casualty business as compared to favorable net prior year development in 2018, partially offset by lower catastrophe losses in 2019.
For earnings history and earnings-related data on Loews Corp. (L) click here.
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