Loews Corp. (L) Reports Q2 Loss of $2.96

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Loews Corporation Reports Net Loss Of $835 Million For The Second Quarter Of 2020

August 3, 2020 6:00 AM EDT

NEW YORK, Aug. 3, 2020 /PRNewswire/ -- Loews Corporation (NYSE: L) today reported a net loss of $835 million, or $2.96 per share, for the three months ended June 30, 2020, compared to net income of $249 million, or $0.82 per share, in the second quarter of 2019. Net loss for the six months ended June 30, 2020 was $1.47 billion, or $5.16 per share, compared to net income of $643 million, or $2.09 per share, for the six months ended June 30, 2019.

The net loss for the three months ended June 30, 2020, was driven by (i) an  investment loss of $957 million to write down the... More