Profit Up for Loews
While revenue slowed, Loews' (NYSE: L) profit still increased in the most recent quarter. What's behind the company's falling revenue? Let's first dig into the numbers. Then we can look a bit deeper and see what steps you can take.
Earnings and Revenue:
Loews announced EPS of 40 cents/share versus the 54 cents/share estimate. Revenue for the quarter was $3.44 billion. EPS rose 344.4% while revenue declined 7.1% from the same period last year.
Last quarter's profit boost ends a two-quarter streak of year-over-year profit decreases. Loews saw falling revenues last quarter after rising 1.6% to $3.54 billion the quarter before.
Income:
For the year, Loews reported net income of $3.05/share. The company trumped analyst projections of $2.92 by 4.5%. According to the reported number, the company's income rose 350% from last year's levels.
Conference Call:
The conference call for third quarter earnings can be accessed here.
Industry:
With price/earnings growth of 0.8%, Loews' industry, insurance-multiline, is expanding.
What to Do Next:
Now you can make a better-informed decision about whether to buy, sell or hold Loews shares until the next earnings announcement. Whatever you do, be sure to check back in with us before the company's next earnings release for a full prep sheet, just like the one we did here.
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