Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported higher revenue and profit for the third quarter of 2024.
- Net income attributable to Loews increased to $401 million in Q3 from $253 million in the year-ago quarter
- Core income for the CNA subsidiary, on an adjusted basis, edged up to $293 million in the September quarter from $289 million in Q3 2023
- At $4.47 billion, third-quarter revenues were up 14% from the prior-year period
- On a per-share basis, Q3 earnings moved up to $1.82 per share from $1.12 per share in the third quarter of 2023
- Excluding the prior-year third quarter’s $37 million charge for the termination of Loews’s defined benefit pension plan, net income grew 38% year-over-year
- The company repurchased 0.8 million shares of its common stock during the quarter for a total cost of $64 million
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