Loews Corp. Earnings Cheat Sheet: The Profit Streak Continues

S&P 500 (NYSE:SPY) component Loews Corporation (NYSE:L) reported its results for the first quarter. Through its subsidiaries, Loews is involved in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, production of natural gas and liquids, operation of interstate natural gas pipeline, and operation of hotels.

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Loews Earnings Cheat Sheet for the First Quarter

Results: Net income for the insurance-multiline fell to $367 million (92 cents per share) vs. $379 million (92 cents per share) a year earlier. This is a decline of 3.2% from the year-earlier quarter.

Revenue: Rose 1.8% to $3.71 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Loews Corporation beat the mean analyst estimate of 82 cents per share.

Key Stats:
The company beat estimates last quarter after falling short in the previous two quarters. In the fourth quarter of the last fiscal year, it missed the mark by 6 cents, and in the third quarter of the last fiscal year, it came in under estimates by 10 cents.

Looking Forward: Over the past ninety days, the average estimate for the second quarter has fallen from 76 cents per share to 69 cents, indicating that analysts are growing pessimistic about the company’s performance next quarter. In the last thirty days, the average estimate for the fiscal year has moved up from $2.90 per share to $2.94.

Competitors to Watch: CNA Financial Corporation, The Chubb Corporation, The Travelers Companies, Inc., W.R. Berkley Corporation, Markel Corporation, American Financial Group, American Intl. Group, Inc., Old Republic Intl. Corp., Cincinnati Financial Corp., and RLI Corp.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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