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Home > Fortune 500 Companies > Loews Corp
Loews Corp
Loews Corp is a publicly traded company having a good stock performance result. Loews Corp is a fortune 500 stock listed company trading under LTR. Loews Corporation, a holding company, is one of the largest diversified financial corporations in the United States. Its principal subsidiaries are CNA Financial Corporation, Lorillard, Inc., Boardwalk Pipeline Partners, LP, Diamond Offshore Drilling, Inc., Loews Hotels, and Bulova Corporation.
Loews Corporation Common Stock trades on the New York Stock Exchange under the symbol LTR. Loews Corporation today reported consolidated net income including both the Loews Group and Carolina Group for the 2005 fourth quarter of 127.6 million dollars, compared to 500.3 million dollars in the 2004 fourth quarter. Consolidated net income for the year ended December 31, 2005 was 1,211.6 million dollars, compared to 1,215.8 million dollars in the prior year.
Net income attributable to Loews common stock for the year ended 2005 amounted to 960.3 million dollars or 5.16 dollars per share, compared to 1,031.3 million dollars, or 5.56 dollars per share, in the prior year. The results for the year ended December 31, 2005 include a benefit of 136.5 million dollars related to a federal income tax settlement due primarily to net refund interest and the release of federal income tax reserves and catastrophe losses at CNA of 304.8 million dollars primarily related to Hurricanes Wilma, Katrina, Rita, Dennis and Ophelia.
Consolidated revenues for the year ended 2005 amounted to 16.0 billion dollars compared to 15.2 billion dollars in the prior year. The increase in revenues is primarily due to the acquisition of Gulf South in December of 2004, improved results at Diamond Offshore and the impact of a loss recorded in 2004 related to CNA's sale of its individual life business.
Loews Corporate Headquarters seeks to attract individuals of exceptional talent. It’s relatively small corporate workforce, which is comprised of professionals and support staff performing a wide range of functions, works together to provide direction and services for the company and its diverse holdings. Loews is an equal opportunity employer, and offers its staff outstanding flexible benefits, competitive compensation and a stimulating work environment.
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