NYSE$L

Loews Corp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Loews reported a solid fourth quarter and year, driven by progress in its consolidated subsidiaries and significant improvements in Loews Hotels' results due to the rebound in leisure travel.

Loews Corporation reported a net income of $343 million for the fourth quarter of 2021, compared to $397 million for the fourth quarter of 2020. The decrease was primarily due to lower net investment gains at CNA, lower results from CNA's Life & Group business, and higher net catastrophe losses, partially offset by higher Property & Casualty non-catastrophe underwriting results.

  • Loews reported fourth quarter net income of $343 million, or $1.37 per share.
  • CNA's results decreased due to lower net investment gains, lower results from the Life & Group business, and higher net catastrophe losses.
  • Boardwalk Pipelines’ earnings decreased mainly due to the absence of proceeds related to a customer bankruptcy.
  • Loews Hotels’ results improved significantly due to the rebound in leisure travel.

Headline financials

Total Revenue

$3.66B

Previous: $3.71B-1.3%
EPS (adj)

$1.37

Previous: $1.45-5.5%
Capital Expenditures

$155M

Previous: $126M+23.0%
Free Cash Flow

$792M

Previous: $328M+141.5%
Net Income

$343M

Previous: $397M-13.6%
Gross Profit

$3.66B

Previous: $3.71B-1.3%
Cash & Equivalents

$621M

Previous: $478M+29.9%
Total Assets

$81.6B

Previous: $80.2B+1.7%

Revenue & EPS history

Loews · Revenue · Quarterly

$3.66B

Q4 2021-1.3%vs Q4 2020
Beat estimate in 2 of 5 quarters(40%)
ActualEstimate

Revenue by segment

Loews · $3.6B total across 3 segments · Q4 2021

  • CNA Financial
    $3.05B+4.2%
  • Boardwalk Pipelines
    $358M-4.8%
  • Loews Hotels & Co
    $191M+354.8%

Forward guidance

Statements contained in this press release which are not historical facts are “forward-looking statements” within the meaning of the federal securities laws.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.2%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.1%

Avg return

30 days after

49%

33 / 67 earnings

Positive

+9.3%

Q3 2020

Best reaction

-6.2%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.2%-6.5%-7.8%
Q4 2025-0.3%-2.2%-2.2%
Q3 2025-0.1%+3.0%+6.2%
Q1 2025-2.0%+0.3%+0.1%
Q4 2024-1.0%-4.3%-3.2%
Q3 2024-1.1%+4.8%+8.3%
Q2 2024+0.5%-1.7%+1.5%
Q1 2024+1.8%+2.1%-1.9%
Q4 2023-0.3%-0.4%+3.3%
Q3 2023+1.9%+4.7%+9.1%
Q2 2023+1.2%+1.2%-0.2%
Q1 2023+2.5%+1.8%-2.7%
Q4 2022+4.4%+3.4%-2.1%
Q3 2022-2.6%-4.3%+0.3%
Q2 2022-5.0%-5.4%-5.0%
Q1 2022-0.1%+2.5%+3.0%
Q4 2021+0.8%+0.6%-0.4%
Q3 2021+2.4%+2.1%-4.7%
Q2 2021-0.1%+2.4%+3.8%
Q1 2021+3.1%+4.8%+4.6%
Q4 2020+0.6%+1.7%+5.6%
Q3 2020+9.3%+8.7%+22.8%
Q2 2020-2.8%+3.7%+0.5%
Q1 2020-2.6%-1.9%+12.2%
Q4 2019+2.8%+1.8%-25.4%
Q3 2019-3.2%-2.4%+0.0%
Q2 2019-1.8%-2.9%-7.4%
Q1 2019+2.2%+1.3%+2.1%
Q4 2018-3.3%-1.6%+0.5%
Q3 2018+7.0%+7.1%+1.5%
Q2 2018+2.0%+2.8%+1.4%
Q1 2018+1.3%-1.5%-5.7%
Q4 2017+2.9%+7.2%+9.1%
Q3 2017+3.3%+3.5%+5.0%
Q2 2017+1.9%+1.8%-3.4%
Q1 2017+0.9%+0.8%+1.2%
Q4 2016-0.4%-0.3%+1.4%
Q3 2016+3.3%+1.0%+8.8%
Q2 2016-2.8%-0.4%+1.3%
Q1 2016+0.5%
Q4 2015+0.2%
Q3 2015+2.2%
Q2 2015-1.6%
Q1 2015-1.1%
Q4 2014+1.9%
Q3 2014-1.0%
Q2 2014-0.3%
Q1 2014-0.1%
Q4 2013-2.9%
Q3 2013+0.7%
Q2 2013-0.7%
Q1 2013+0.5%
Q4 2012-0.5%
Q3 2012-0.3%
Q2 2012-5.1%
Q1 2012+1.3%
Q4 2011+1.1%
Q3 2011-2.0%
Q2 2011-1.9%
Q1 2011+1.1%
Q4 2009-0.1%
Q4 2010-0.1%
Q3 2010+0.5%
Q2 2010+0.6%
Q1 2010+1.7%
Q2 2009-1.4%
Q2 2008-1.4%

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