NEW YORK (AP) — Loews Corp. (L) on Monday reported a fourth-quarter loss of $165 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 53 cents. Earnings, adjusted for non-recurring costs, were 36 cents per share.
The commercial property and casualty insurance company posted revenue of $3.29 billion in the period.
For the year, the company reported profit of $636 million, or $1.99 per share. Revenue was reported as $14.07 billion.
Loews shares have risen slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 8 percent. The stock has risen roughly 2 percent in the last 12 months.