Loews Corporation Beats Q3 Estimates as Revenue Climbs 25.8% (L)
Mon. November 02, 2009; Posted: 10:04 AM
Nov 02, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 11/2/2009 - Loews Corporation (NYSE:L) reported Q3 EPS of $1.08, beating consensus estimates of $0.89. Revenues for the quarter rose 25.8% to $3.74 billion, coming out ahead of consensus estimates of $3.35 billion. The improved income from operations reflects improved investment income and significantly lower impairment losses at CNA Financial Corporation. The company's reported earnings includes net investment losses of $61 million (after tax and noncontrolling interests) compared to $379 million in the comparable quarter last year. Shares of Loews are up 3.5% in early Monday trading.
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