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Loews (L) Q4 Earnings Miss Estimates, Expenses Rise Y/Y
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 Miss
Loews reported loss per share of 53 cents per share, missing the Zacks Consensus Estimate earnings of 53 cents. The bottom line compares unfavorably with $1.43 per share earned in the year ago quarter.
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. The company surpassed the Zacks Consensus Estimate in two of the last four trailing four quarters.
Key Takeaways
• Operating revenue of $3.4 billion decreased 4.7% year over year.
• Total expenses increased 13.7% year over year to $3.5 billion.
• Book value as of Dec 31, 2018 was $62.16 per share, up 7.3% from $57.91 as of Dec 31, 2017.
• Repurchased $1 billion worth shares.
What Zacks Rank Says
Loews carries Zacks Rank #4 (Sell). 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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