Loews Corp. (L) Tops Q4 EPS by 16c

February 6, 2017 6:05 AM EST

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Loews Corp. (NYSE: L) reported Q4 EPS of $0.79, $0.16 better than the analyst estimate of $0.63.

Net income for the year ended December 31, 2016 included asset impairment charges of $267 million (after tax and noncontrolling interests) at Diamond Offshore Drilling, Inc. In 2015, net income for the three months and year ended December 31, 2015 included asset impairment charges at Diamond Offshore of $182 million and $341 million (after tax and noncontrolling interests) and a reserve charge of $177 million (after tax and noncontrolling interests) related to the long term care business at CNA Financial Corporation.

Book value per share increased to $53.89 at December 31, 2016 from $51.67 at December 31, 2015. Book value per share excluding accumulated other comprehensive income (AOCI) increased to $54.56 at December 31, 2016 from $52.72 at December 31, 2015.

For earnings history and earnings-related data on Loews Corp. (L) click here.



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