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Loews Corp. on Monday reported a second-quarter loss of $65 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 19 cents per share. Earnings, adjusted for asset impairment costs, were 60 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The commercial property and casualty insurance company posted revenue of $3.31 billion in the period.
Loews shares have risen almost 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 6 percent. The stock has climbed nearly 8 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.
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