Loews (L) Gears Up To Report Q3 Earnings: What's In Store?
Zacks Investment Research | Oct 23, 2019 11:27PM ET
Loews Corporation (NYSE:L) is slated to report third-quarter 2019 results on Oct 28, before market open. The company delivered positive earnings surprise in two of the reported quarters of 2019.
Let’s see how things have shaped up for this announcement.
Better performances at CNA Financial (NYSE:CNA) , Loews Hotels and Boardwalk Pipeline are likely to have aided Loews’ third-quarter performance.
CNA Financial’s third-quarter premiums are likely to have benefited from increase in new business, renewal premium change, rate increase and solid retention. This, in turn, may have driven Loews' performance as it has a stake in CNA Financial. A not-so-active catastrophe environment is expected to have aided underwriting results. Its Life & Group unit is expected to have benefited from favorable persistency.
Loews Hotel is expected to have performed well given solid performance across its properties.
Boardwalk Pipeline, Loews’ subsidiary, is likely to have benefited from growth-enhancing projects and transportation storage of natural gas liquids.
Diamond Offshore’s (NYSE:DO) , in which Loews has a stake, results are likely to have been hurt by lower day rate, drop in contract drilling revenues, higher drilling expense and a decline in rigs working. Loews' results are also expected to reflect challenging conditions in the global offshore drilling market.
Sustained share buybacks are likely to have boosted the bottom line.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 75 cents, implying 14.8% decrease from the year-ago reported figure.
Loews Corporation Price and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.