Loews Q1 Profit Rises - Quick Facts

(RTTNews) - Loews Corp. (L) on Monday reported first-quarter net income of $394 million or $1.27 per share, up from $293 million or $0.89 per share in the prior-year quarter.

Net income increased from the prior year period due to higher earnings contributed by CNA Financial Corp. and Boardwalk Pipeline Partners, LP as well as higher parent company net investment income. These increases were partially offset by an income decline at Diamond Offshore Drilling, Inc.

Revenues for the quarter increased to $3.76 billion from $3.58 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.