Loews Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Loews (NYSE:L) will unveil its latest earnings on Monday, July 30, 2012. Through its subsidiaries, Loews is involved in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, production of natural gas and liquids, operation of interstate natural gas pipeline, and operation of hotels.

Loews Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 70 cents per share, a rise of 18.6% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 69 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 70 cents during the last month. Analysts are projecting profit to rise by 14.4% compared to last year’s $3.09.

Past Earnings Performance: Last quarter, the company topped expectations by 17 cents, coming in at net income of 99 cents per share versus a mean estimate of profit of 82 cents per share. This followed two straight quarters of missing estimates.

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A Look Back: In the first quarter, profit fell 3.9% to $367 million (92 cents a share) from $382 million (92 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 2.1% to $3.74 billion from $3.67 billion.

Stock Price Performance: Between May 25, 2012 and July 24, 2012, the stock price had risen $1.08 (2.8%), from $39.22 to $40.30. The stock price saw one of its best stretches over the last year between June 25, 2012 and July 3, 2012, when shares rose for seven straight days, increasing 5.1% (+$2.02) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 6.5% (-$2.68) over that span.

Key Stats:

After experiencing income drops the past two quarters, the company is hoping to use this earnings announcement to rebound. Net income dropped 42.5% in the fourth quarter of the last fiscal year and then again in the first quarter.

On the top line, the company is looking to build a positive trend after last quarter’s growth snapped a string of drops. Revenue fell 7.1% in the third quarter of the last fiscal year and 6.4% in the fourth quarter of the last fiscal year before climbing in the first quarter.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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