Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported a sharp increase in revenues and earnings for the first quarter of 2024.
Net income increased an impressive 22% year-over-year to $457 billion in the March quarter. On a per-share basis, Q1 earnings were $2.05 per share, compared to $1.61 per share in the same period last year.
The bottom line benefitted from a 12% growth in first-quarter revenues to $4.23 billion, with all three operating segments registering growth.
“Loews had an exceptional quarter driven by stellar results at CNA and Boardwalk. CNA continues to experience strong profitable growth, reporting its highest ever first quarter core income,” said James Tisch, chief executive officer of Loews Corporation.