By Denny Jacob
Loews logged a smaller profit in its fourth quarter as a charge to its insurance business was a drag on overall results.
The operator of insurance, energy and hotel businesses posted net income of $187 million, or 86 cents a share, compared with $446 million, or $1.99 a share, a year earlier.
Loews said its quarterly results included a pension settlement charge for CNA Financial for $265 million.
Revenue rose to $4.55 billion from $4.26 billion.
Earnings from the company's CNA Financial insurance business, its largest by revenue, declined to $19 million from $336 million.
Earnings from its Boardwalk Pipelines business rose to $145 million from $92 million, while its hotel business edged down slightly to $27 million from $32 million.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 10, 2025 06:24 ET (11:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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