New York based Loews Corporation (L) is a diversified holding company operating through its subsidiaries.
Loews aims to strengthen its hotel business, its smallest unit, with the addition of more hotels to its portfolio to take the count to over 30 and triple its net income by 2015.
Though offshore drilling market faces challenges from soft day rates and very few long-term contracts, Diamond Offshore continues to improve its fleet.
CNA Specialty as well as Commercial continues to experience rate increase as well as solid retentions thereby aiding solid performances at CNA Financial.
A still soft interest rate environment continues to hurt the investment results.
Currently, Loews has a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
Loews beat on earnings. Our consensus called for EPS of 53 cents per share, and the company reported EPS of 57 cents per share.
Key Stats to Note
· Total revenue of $3.5 billion declined 6.9% year over year.
· Total expenses decreased 5.3% year over year to $3.1 billion.
· Book value as of Dec 31, 2014 was $50.95 per share, up about 3.2% from $49.38 as of Dec 31, 2013.
· Capital deployment via share repurchases totaled $622 million in 2014.
Check back later for our full write up on this L earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment