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Loews (L) Q2 Earnings Miss Estimates, Revenues Rise Y/Y
Have you been eager to see how Loews Corporation (L - Free Report) performed in the second quarter in comparison with the market expectations? Let’s quickly scan through the key facts from this OH-based property and casualty insurer’s earnings release this morning
An Earnings Miss
Loews reported earnings per share of 72 cents per share, missing the Zacks Consensus Estimate of 73 cents. Earnings however increased 4.3% year over year.
Share buybacks aided the bottom line.
How Was the Estimate Revision Trend?
You should note that there was no earnings momentum for Loews prior to the earnings release. Loews has a superb earnings surprise history. The company surpassed the Zacks Consensus Estimate by an average of 557% in the trailing four quarters.
Loews Corporation Price and EPS Surprise
Loews Corporation Price and EPS Surprise | Loews Corporation Quote
Key Takeaways
• Operating revenue of $3.6 billion increased 8.3% year over year.
• Total expenses decreased increased nearly 9% year over year to $3.3 billion.
• Book value as of Jun 30, 2018 was $59.72 per share, up 3.3% from $57.83 as of Dec 31, 2017.
• Repurchased $290 million worth shares.
What Zacks Rank Says
Loews carries Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
Check back later for our full write up on this L earnings report later!
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