Loews Corporation (L)

Loews Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	10,011	9,480	8,667	8,175	7,649	7,428
Total Interest & Dividend Income	2,308	2,180	1,805	1,861	1,780	2,110
Gain (Loss) on Sale of Investments	122	-15	-196	683	-1,158	90
Non-Insurance Activities Revenue	1,615	1,624	1,574	1,430	1,252	1,161
Other Revenue	3,166	2,632	2,194	2,508	3,060	4,142
Total Revenue	17,222	15,901	14,044	14,657	12,583	14,931
Revenue Growth (YoY)	11.57%	13.22%	-4.18%	16.48%	-15.73%	6.15%
Policy Benefits	7,518	7,068	6,653	6,371	6,170	5,806
Policy Acquisition & Underwriting Costs	1,772	1,644	1,490	1,443	1,410	1,383
Selling, General & Administrative	3,710	3,381	3,052	2,957	3,916	4,851
Non-Insurance Activities Expense	1,559	1,544	1,471	1,328	1,159	1,082
Total Operating Expenses	14,559	13,637	12,666	12,099	12,655	13,122
Operating Income	2,663	2,264	1,378	2,558	-72	1,809
Interest Expense	-427	-376	-378	-424	-515	-591
Earnings From Equity Investments	75	120	139	26	-73	-
EBT Excluding Unusual Items	2,311	2,008	1,139	2,160	-660	1,218
Asset Writedown	-12	-12	-25	-	-804	-99
Pretax Income	2,299	1,996	1,114	2,160	-1,464	1,119
Income Tax Expense	517	451	223	475	-173	248
Earnings From Continuing Ops.	1,782	1,545	891	1,685	-1,291	871
Net Income to Company	1,782	1,545	891	1,685	-1,291	871
Minority Interest in Earnings	-109	-111	-69	-123	360	61
Net Income	1,673	1,434	822	1,562	-931	932
Net Income to Common	1,673	1,434	822	1,562	-931	932
Net Income Growth	24.57%	74.45%	-47.38%	-	-	46.54%
Shares Outstanding (Basic)	222	227	243	260	280	303
Shares Outstanding (Diluted)	222	228	243	260	280	303
Shares Change (YoY)	-4.05%	-6.36%	-6.50%	-7.18%	-7.59%	-5.18%
EPS (Basic)	7.55	6.30	3.39	6.02	-3.32	3.08
EPS (Diluted)	7.53	6.29	3.38	6.00	-3.32	3.07
EPS Growth	29.61%	86.09%	-43.67%	-	-	54.27%
Free Cash Flow	1,880	3,221	2,654	2,141	1,035	700
Free Cash Flow Per Share	8.47	14.14	10.91	8.23	3.69	2.31
Dividend Per Share	0.250	0.250	0.250	0.250	0.250	0.250
Operating Margin	15.46%	14.24%	9.81%	17.45%	-0.57%	12.12%
Profit Margin	9.71%	9.02%	5.85%	10.66%	-7.40%	6.24%
Free Cash Flow Margin	10.92%	20.26%	18.90%	14.61%	8.23%	4.69%
EBITDA	3,234	2,802	1,890	3,073	662	2,752
EBITDA Margin	18.78%	17.62%	13.46%	20.97%	5.26%	18.43%
D&A For EBITDA	571	538	512	515	734	943
EBIT	2,663	2,264	1,378	2,558	-72	1,809
EBIT Margin	15.46%	14.24%	9.81%	17.45%	-0.57%	12.12%
Effective Tax Rate	22.49%	22.60%	20.02%	21.99%	-	22.16%
Revenue as Reported	17,222	15,901	14,044	14,657	12,583	14,931

Source: S&P Capital IQ. Insurance template. Financial Sources.