Loews Reports Q4 Loss

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Loews came in with a quarterly loss, as revealed in its Q4 and 2012 results. Q4 saw a bottom-line loss of $32 million ($0.08 per diluted share), as opposed to the $271 million ($0.68) it posted in Q4 2011. Revenue was $3.7 billion, up from the year-ago quarter's $3.5 billion.

The company attributed much of the shortfall to losses at CNA , the insurance company it controls and the entity that typically provides nearly two-thirds of Loews' revenue. CNA booked catastrophe losses of $171 million during the quarter in the wake of Hurricane Sandy. In addition, Loews' natural gas unit HighMount booked a $97 million charge in Q4.

For the full year, Loews posted $568 million in net profit ($1.43 per share), which was down significantly from the $1.1 billion ($2.62) it netted in 2011. Revenue was $14.5 billion, up from the previous year's $14.2 billion.

The article Loews Reports Q4 Loss originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Loews. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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