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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.