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Loews (L) Beats Q4 Earnings Estimates on Higher Premiums
Have you been eager to see how Loews Corporation (L - Free Report) performed in the fourth 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 Beat
Loews reported adjusted earnings per share of 83 cents per share, beating the Zacks Consensus Estimate of 72 cents. Earnings declined 3.5% year over year.
Higher premiums drove the upside.
Loews Corporation Price and EPS Surprise
Loews Corporation Price and EPS Surprise | Loews Corporation Quote
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 decent earnings surprise history. Overall, the company surpassed the Zacks Consensus Estimate by an average of 561.77% in the trailing four quarters.
Key Takeaways
• Operating revenue of $3.6 billion increased 6.7% year over year.
• Total expenses decreased increased 7.5% year over year to $3.1 billion.
• Book value as of Dec 31, 2017 was $57.83 per share, up about 7.2% from $53.96 as of Dec 31, 2016.
• Repurchased $237 million worth shares in 2017.
What Zacks Rank Says
Loews carries Zacks Rank #2 (Buy) . 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 seethe 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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