New York, May 6, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced its first quarter 2024 financial results today, revealing a net income of $457 million, or $2.05 per share. This represents a 22% increase over the first quarter of 2023, where the company reported $375 million, or $1.61 per share.

In a statement, James S. Tisch, President and CEO of Loews Corporation, expressed his satisfaction with the quarter's performance, stating, "Loews had an exceptional quarter driven by stellar results at CNA and Boardwalk. CNA continues to experience strong profitable growth, reporting its highest ever first quarter core income."

The financial results for the first quarter of 2024 showcased positive performances across different sectors of the company:

- CNA

- Boardwalk

- Loews Hotels

- Corporate & Other

- Share Purchases

The company also provided a reconciliation of GAAP measures to non-GAAP measures, highlighting the use of core income for CNA, EBITDA for Boardwalk, and Adjusted EBITDA for Loews Hotels.

Loews Corporation, a diversified company with interests in the insurance, energy, hospitality, and packaging industries, continues to focus on delivering strong financial results across its portfolio. More information about the company can be found at www.loews.com.

The news release also included a disclaimer on forward-looking statements, emphasizing the inherent uncertainty and risks associated with such statements. Investors were urged to review the company's reports filed with the Securities and Exchange Commission for a comprehensive understanding of the risks involved.

In conclusion, Loews Corporation's first quarter of 2024 showed significant growth in net income, driven by successful performances in key sectors of the business. The company remains committed to maintaining transparency and providing valuable insights into its financial performance.

SOURCE: Loews Corporation