Loews Reports Q4 Loss

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Loews (NYSE: L  ) came in with a quarterly loss, as revealed in its Q4 and 2012 results. Q4 saw a bottom-line loss of $32 million ($0.08 per diluted share), as opposed to the $271 million ($0.68) it posted in Q4 2011. Revenue was $3.7 billion, up from the year-ago quarter's $3.5 billion.

The company attributed much of the shortfall to losses at CNA (NYSE: CNA  ) , the insurance company it controls and the entity that typically provides nearly two-thirds of Loews' revenue. CNA booked catastrophe losses of $171 million during the quarter in the wake of Hurricane Sandy. In addition, Loews' natural gas unit HighMount booked a $97 million charge in Q4.

For the full year, Loews posted $568 million in net profit ($1.43 per share), which was down significantly from the $1.1 billion ($2.62) it netted in 2011. Revenue was $14.5 billion, up from the previous year's $14.2 billion.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2248798, ~/Articles/ArticleHandler.aspx, 9/28/2016 11:38:50 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 hour ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:02 PM
L $40.94 Up +0.51 +1.26%
Loews CAPS Rating: ***
CNA $34.86 Up +1.80 +5.44%
CNA Financial CAPS Rating: *****