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Loews Q1 net income $295 million

Staff Writer |
Loews Corporation reported net income of $295 million, or $0.87 per share, for the fist quarter ended March 31, 2017, compared to $102 million, or $0.30 per share, in the prior year period.

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Net income increased $193 million as compared to the prior year due to higher earnings at CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels & Co, as well as higher income generated by the parent company investment portfolio.

These increases were partially offset by lower earnings at Diamond Offshore Drilling, Inc.

Book value per share increased to $54.91 at March 31, 2017 from $53.96 at December 31, 2016.

Book value per share excluding accumulated other comprehensive income (AOCI) increased to $55.35 at March 31, 2017 from $54.62 at December 31, 2016.


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