Welcome to our dedicated page for Loews Corporation news (Ticker: L), a resource for investors and traders seeking the latest updates and insights on Loews Corporation stock.
Loews Corporation (NYSE: L) stands as a multifaceted holding company with diverse business operations. Its primary subsidiaries include CNA Financial Corporation (NYSE: CNA), a prominent property and casualty insurance entity providing services such as risk management, information services, and claims administration. Another significant subsidiary, Diamond Offshore Drilling, Inc. (NYSE: DO), specializes in offshore oil and gas drilling rigs, catering to key players in the energy sector. Additionally, Loews owns Boardwalk Pipeline Partners, LP (NYSE: BWP), which excels in the transportation, storage, and processing of natural gas and natural gas liquids.
Furthermore, Loews Corporation wholly owns Loews Hotels & Resorts, a hospitality chain extending its reach across various strategic locations in the U.S. and beyond. The company champions a progressive, employee-centric work environment, fostering a culture where innovation and collaboration thrive.
In recent developments, Loews Corporation reported net income of $253 million for the third quarter of 2023, marking a substantial turnaround from a net loss in the same period of the previous year. This financial uplift is attributed to focused strategic initiatives and efficient operational management across its subsidiaries.
The company recently expanded its hospitality footprint with the opening of the Loews Arlington Hotel and Convention Center in Texas. This state-of-the-art facility features 888 guest rooms, extensive meeting spaces, and modern amenities, reinforcing Loews' commitment to excellence in the hospitality industry.
Loews Corporation invites stakeholders to stay informed about its continuous growth and financial health, consistently delivering valuable updates and insights through its official channels. Visit www.loews.com for more information.
Loews Corporation (NYSE: L) announced a leadership transition, with Jonathan Tisch transitioning to Executive Chairman and Alex Tisch stepping up as President and CEO, effective January 1, 2023. Jonathan Tisch has played a pivotal role in Loews Hotels' growth and development since 1986, fostering strategic partnerships and a strong corporate culture. Alex Tisch, who has been with Loews Hotels since 2017, has been instrumental in executing the company’s strategic plan and expanding its footprint across several U.S. cities. This transition aims to ensure continued growth and operational success.
Loews Corporation reported a net income of $130 million ($0.54 per share) for Q3 2022, down from $220 million ($0.85 per share) in Q3 2021. Year-to-date net income is $648 million ($2.64 per share), compared to $1.2 billion ($4.70 per share) in 2021. Key drivers included higher underwriting income and improved performance in Loews Hotels & Co, offset by investment losses at CNA. Book value per share declined to $58.14, reflecting market challenges. Share repurchases totaled 10.5 million shares at a cost of $614 million.
Loews Corporation (NYSE: L) will announce its third quarter 2022 financial results on October 31, 2022, at 10:00 a.m. ET. CEO James S. Tisch and CFO Jane Wang will lead the conference call. Shareholders can submit questions for management prior to the call. The event will be accessible via a live webcast on Loews Corporation's website, and a replay will be available until November 22, 2022. Loews operates in diverse sectors including insurance, energy, hospitality, and packaging.
Loews Corporation (NYSE: L) has declared a quarterly dividend of $0.0625 per share on its Common Stock. This dividend will be payable on August 30, 2022, to shareholders of record by the close of business on August 17, 2022. Loews operates in diversified sectors including insurance, energy, hospitality, and packaging, reflecting its broad market interests.
Loews Corporation (NYSE:L) reported a net income of $180 million, or $0.73 per share, for Q2 2022, significantly down from $754 million, or $2.86 per share, in Q2 2021. For the first half of 2022, net income was $518 million, compared to $1.0 billion in the same period last year.
The decline was mainly due to lower net investment income and net investment losses in Q2 2022, partially offset by improved underwriting income and better results from Loews Hotels & Co. Book value per share dropped to $62.90 from $71.84 since year-end 2021.
Loews Hotels & Co has topped off its $550 million Loews Arlington Hotel and Convention Center, set to open in early 2024 with 888 rooms and 266,000 square feet of event space. The venue aims to boost Arlington's status as a premier destination for meetings and events. The hotel's signature restaurant, Soy Cowboy, will offer a pan-Asian dining experience, enhancing the culinary landscape of Arlington's Entertainment District. This development represents a significant investment in local tourism and community engagement.
Loews Corporation (NYSE: L) plans to report its second quarter 2022 financial results on August 1, 2022. The call for investors will start at 10:00 a.m. ET, featuring CEO James S. Tisch and CFO Jane J. Wang. Shareholders are encouraged to submit questions in advance, which may be addressed during the call. A live webcast and replay of the conference will be accessible on the Loews Corporation website until August 22, 2022.
Loews Corporation (NYSE: L) has appointed Ben Tisch as Senior Vice President of Corporate Development and Strategy, effective immediately. Tisch, who joined Loews in 2011, will manage the performance of subsidiaries and collaborate with the Chief Investment Officer, Richard Scott, on portfolio management for Loews and its subsidiary, CNA Financial. His experience includes leading strategic planning and overseeing capital allocation. Tisch has also played a key role in the significant sale of a stake in Altium Packaging to Singapore's sovereign wealth fund.
Loews Corporation (NYSE: L) has declared a quarterly dividend of $0.0625 per share, set to be paid on June 7, 2022. Shareholders of record as of May 25, 2022 will be eligible for this dividend. Loews operates across various sectors, including insurance, energy, hospitality, and packaging.
Loews Corporation (NYSE:L) reported a net income of $338 million, or $1.36 per share, for Q1 2022, a significant increase from $261 million or $0.97 per share in Q1 2021. This increase was driven by strong performances from CNA Financial, Boardwalk Pipelines, and Loews Hotels, with CNA reporting improved underwriting results despite lower net investment income. The company also repurchased 2.15 million shares at a cost of $129 million. However, book value per share decreased to $67.27 from $71.84 since December 2021.
FAQ
What is the current stock price of Loews Corporation (L)?
What is the market cap of Loews Corporation (L)?
What are the primary subsidiaries of Loews Corporation?
What services does CNA Financial Corporation offer?
What is the role of Diamond Offshore Drilling, Inc.?
What does Boardwalk Pipeline Partners specialize in?
What recent financial performance highlights were reported by Loews Corporation?
What new hospitality project has Loews Corporation launched?
Where can stakeholders find more information about Loews Corporation?
How does Loews Corporation engage with its employees?
What industries does Loews Corporation operate in?
How can shareholders submit questions to Loews Corporation?
