Loews posts $444 million quarterly profit and buys back 1.4 million shares
Loews Corporation reported quarterly net income of $444 million, or $2.16 per share, up 13.5% from a year earlier. Revenue rose 3.7% year over year to $4.73 billion, and book value per share increased to $93.52. During the quarter, the company repurchased 1.4 million shares for $146 million. Subsidiary CNA contributed $294 million in net income, while its core underwriting income slipped slightly.