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.
On October 12, 2021, Loews Hotels & Co commenced construction on the $550 million Loews Arlington Hotel and Convention Center in Arlington, Texas. This full-service resort aims to bolster the city’s appeal as a top destination for conventions and leisure travel, complementing existing attractions like AT&T Stadium. Scheduled to open in early 2024, the hotel will feature 888 guestrooms, vast meeting spaces, and various dining options, furthering Loews' commitment to the travel and tourism sector's recovery post-pandemic.
Loews Corporation (NYSE: L) has declared a quarterly dividend of $0.0625 per share, payable on August 31, 2021, to shareholders of record as of the close of business on August 18, 2021. As a diversified company, Loews operates across various industries, including insurance, energy, hospitality, and packaging. The dividend reflects the company's commitment to returning value to shareholders.
Loews Corporation (NYSE:L) reported a net income of $754 million, or $2.86 per share, for Q2 2021, improving from a net loss of $835 million, or $2.96 per share, in Q2 2020. For the first half of 2021, net income reached $1.0 billion, or $3.82 per share, compared to a net loss of $1.5 billion, or $5.16 per share, in the same period last year. A key factor was a $438 million after-tax gain from the sale of Altium Packaging. Additionally, CNA Financial and Boardwalk Pipelines contributed positively to revenue growth, with hotel operations recovering from pandemic impacts.
Loews Corporation (NYSE: L) will announce its second quarter 2021 financial results on August 2, 2021. A conference call for investors is scheduled for 10:00 a.m. ET, featuring CEO James S. Tisch and CFO David B. Edelson. Shareholders are encouraged to submit questions beforehand, which management may address during the call. The news release and a live webcast will be accessible on the Loews Corporation website. Replays of the call will be available until September 30, 2021.
Loews Corporation (NYSE: L) has declared a quarterly dividend of $0.0625 per share of Common Stock, scheduled for payment on June 8, 2021. Shareholders must be on record by the close of business on May 26, 2021 to receive this dividend. Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging, reflecting its robust business model. This dividend announcement underscores the company’s commitment to returning value to its shareholders while maintaining a diverse portfolio.
Loews Corporation (NYSE:L) reported a net income of $261 million, or $0.97 per share, for Q1 2021, rebounding from a net loss of $632 million in Q1 2020. This strong performance was largely driven by CNA Financial's improved net investment income and solid underwriting results. Boardwalk Pipelines also contributed positively, while Loews Hotels experienced a net loss due to COVID-19 impacts. The company sold 47% of its interest in Altium Packaging for approximately $420 million, expecting a pretax gain of about $560 million in Q2 2021.
Loews Corporation (NYSE: L) will announce its first quarter 2021 financial results on May 3, 2021, at 10:00 a.m. ET. The conference call will be led by CEO James S. Tisch and CFO David B. Edelson. Shareholders are invited to submit questions before the call, which may be addressed by management. A live webcast will be available on the company's website, along with details for a replay after the call, accessible until June 7, 2021.
Loews Corporation (NYSE: L) has signed a definitive agreement to sell 47% of its subsidiary, Altium Packaging, to GIC, Singapore's sovereign wealth fund. The deal is poised to close within 30 days. Altium is recognized for its sustainable plastic packaging solutions and recycled resin production in North America. CEO Sean Fallmann emphasized the partnership with GIC will aid in executing Altium's growth strategy and expanding market offerings. The transaction is subject to customary closing conditions and may face uncertainties, as noted in forward-looking statements.
Loews Corporation (NYSE: L) has declared a quarterly dividend of $0.0625 per share on its Common Stock. This dividend will be payable on March 9, 2021, to shareholders who are on record as of the close of business on February 24, 2021. The company operates across various sectors, including insurance, energy, hospitality, and packaging, demonstrating its diversified business model.
Loews Corporation (NYSE: L) reported a fourth-quarter net income of $397 million, or $1.45 per share, a significant increase from $217 million, or $0.73 per share, in Q4 2019. However, the company experienced a full-year net loss of $931 million, or $3.32 per share, compared to a net income of $932 million in 2019. Key contributors to the fourth quarter included strong results from CNA Financial and Boardwalk Pipelines, while Loews Hotels faced challenges due to the COVID-19 pandemic. The company’s book value per share increased to $66.34.
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