Loews Corporation (NYSE: L) has announced financial results for the fourth quarter of 2022, reporting higher earnings and revenues.
Net income attributable to the company advanced to $364 million or $1.53 per share in the December quarter from $343 million or $1.36 per share in the comparable period of 2021.
The bottom line growth was driven by a 4% increase in revenues to $3.79 billion. Higher revenues at the CNA Financial and Boardwalk Pipelines divisions more than offset weakness in the Loews Hotel segment.
“Loews Corporation had a strong fourth quarter, with stellar performance from our consolidated subsidiaries. We were also pleased with the December Delaware Supreme Court reversal of the state Chancery Court’s decision that had awarded former Boardwalk minority unitholders damages of just over $900 million, including interest,” said Loews’ CEO James Tisch.