Loews Corporation (L ) reported fourth quarter results before the opening bell on Monday morning, posting lower earnings and revenues compared to last year.
L’s Earnings in Brief
- Loews reported fourth quarter revenues of $3.52 billion, down from last year’s $3.78 billion.
- Income from continuing operations came in at $215 million, or 57 cents per share, down from last year’s $248 million, or 64 cents per share.
- Loews’ Q4 results missed analysts’ estimates of 58 cents EPS on revenues of $3.78 billion.
Lowes made no mention of changing its quarterly dividend in its Q4 earnings release. The company currently pays a 6 cent dividend, and has not raised it since 2007. We expect the company to declare its next quarterly dividend in the coming weeks.
Loews stock was up $1.09, or 2.87%, in pre-market trading. YTD, the stock is down 2.4%.
The Bottom Line
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