Loews Q2 net income, revenue rise on gains at CNA Financial
L•Outlook
- Loews did not provide specific guidance or outlook commentary in the press release
Overview
- US diversified conglomerate's Q2 net income and revenue rose yr/yr across key segments
- Book value per share increased to $93.52 from $90.71 at year-end
- Company repurchased 1.4 mln shares for $146 mln in Q2
Key details
| Metric | Actual |
|---|---|
| Q2 Revenue | $4.73 bln |
| Q2 EPS | $2.16 |
| Q2 Net Income Attributable | $444 mln |
Result drivers
- Investment income - CNA Financial's net income rose mainly due to higher investment income and reduced investment losses
- Contracting rates - Boardwalk Pipelines' net income increased on higher gas transportation contracting rates and product sales
- Hotel occupancy - Loews Hotels net income grew on higher average daily rates and more occupied room nights, especially at Universal Orlando Resort and Miami Beach Hotel
