New York based Loews Corporation (L Quick QuoteL - Free Report) is a diversified holding company operating through its subsidiaries.

Loews aims to strengthen its hotel business, its smallest unit, with the addition of more hotels to its portfolio.

Though offshore drilling market faces challenges from soft day rates and very few long-term contracts, Diamond Offshore continues to improve its fleet.

CNA Specialty as well as Commercial continues to experience rate increase as well as solid retentions thereby aiding solid performances at CNA Financial.

Currently, Loews has a Zacks Rank #3 (Hold), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

How was the Bottom Line?

Loews beats on earnings. Our consensus called for EPS of 57 cents per share, and the company delivered EPS of 60 cents per share. Including asset impairment charges at Diamond Offshore, net loss came in at 19 cents per share.
 

LOEWS CORP Price and EPS Surprise

LOEWS CORP Price and EPS Surprise | LOEWS CORP Quote

Key Stats to Note

•    Total revenue of $3.3 billion declined 2.9% year over year.
•    Total expenses increased 16% year over year to $3.6 billion.
•    Book value as of Jun 30, 2016 was $52.84 per share, up about 0.2% from $52.72 as of Dec 31, 2015.
•    Capital deployment via share repurchases totaled $65 million in the quarter.


Check back later for our full write up on this L earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>