May 4, 2020 / 12:16 PM / a month ago

BRIEF-Loews Posts Q1 Loss Per Share Of $2.20

May 4 (Reuters) - Loews Corp:

* ORATION REPORTS NET LOSS OF $632 MILLION FOR THE FIRST QUARTER OF 2020

* Q1 LOSS PER SHARE $2.20

* BOOK VALUE PER SHARE DECREASED TO $60.28 AT MARCH 31, 2020 FROM $65.71 AT DECEMBER 31, 2019

* ECONOMIC DISRUPTION CAUSED BY COVID-19 PANDEMIC & MEASURES TO MITIGATE SPREAD OF VIRUS SIGNIFICANTLY AFFECTED CO’S RESULTS IN Q1 OF 2020

* QTRLY TOTAL REVENUE $3,099 MILLION VERSUS $3,757 MILLION

* EXPECT TO RECORD A SIGNIFICANT NON-CASH LOSS IN Q2 OF 2020 IN CONNECTION WITH DECONSOLIDATION OF DIAMOND OFFSHORE

* CARRYING VALUE OF DIAMOND OFFSHORE AS OF MARCH 31, 2020 WAS $1.0 BILLION, NET OF TAX Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below