Loews Corporation (NYSE: L), a diversified company with businesses in areas like insurance, energy, and hospitality, reported financial results for the fourth quarter of 2024.
- Net income attributable to Loews decreased sharply to $187 million in Q4 from $446 million in the year-ago quarter
- Core income for the CNA subsidiary, on an adjusted basis, dropped to $342 million in the December quarter from $362 million in Q4 2023
- At $4.55 billion, fourth-quarter revenues were up 7% from the prior-year period
- On a per-share basis, Q4 earnings slid to $0.86 per share from $1.99 per share in the fourth quarter of 2023
- Book value per share, excluding Accumulated Other Comprehensive Income, increased to $88.18 in the December quarter from $81.92 as of December 2023
- The company repurchased 4.2 million shares of its common stock for a total cost of $349 million in the final three months of fiscal 2024