Loews Earnings: Here’s Why Investors Didn’t Love These Results
Loews Corporation (NYSE:L) had a loss and missed Wall Street’s expectations. Shares are down 0.7%.
Loews Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.08 in the quarter versus EPS of $0.77 in the year-earlier quarter.
Revenue: Rose 6.55% to $3.71 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Loews Corporation reported adjusted EPS loss of $-0.08 per share. By that measure, the company missed the mean analyst estimate of $0.30.
Quoting Management: Technical indicators are “looking very good” and could give the market a floor Monday, according to Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
Key Stats (on next page)…
Revenue decreased 0.22% from $3.72 billion in the previous quarter. EPS decreased to $-0.08 in the quarter versus EPS of $0.45 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.84 to a profit $0.82. For the current year, the average estimate has moved down from a profit of $2.55 to a profit of $1.73 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)