Loews Corporation (L) Earnings
Loews Corporation is expected to report next earnings on August 3, 2026 (in NaN days). L has beaten EPS estimates in 3 of its last 5 reported quarters (average surprise +25.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | — | $1.63 | — | $4.6B | — |
| May 1, 2023 | — | $1.61 | — | $3.8B | — |
| Feb 6, 2023 | — | $1.63 | — | $3.8B | — |
| Oct 31, 2022 | — | $0.86 | — | $3.5B | — |
| May 2, 2022 | — | $1.37 | — | $3.4B | — |
| Feb 7, 2022 | $0.81 | $1.37 | +70.0% | $3.6B | — |
| May 3, 2021 | $0.75 | $0.81 | +8.0% | $3.6B | -35.7% |
| Feb 8, 2021 | — | $1.60 | — | $3.6B | — |
| May 4, 2020 | — | $-0.25 | — | $3.2B | — |
| Feb 10, 2020 | $0.72 | $0.71 | -1.4% | $3.9B | — |
| Apr 29, 2019 | $0.95 | $1.20 | +26.3% | $3.8B | +54.6% |
| Feb 11, 2019 | $0.53 | $0.36 | -32.1% | $3.3B | -44.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2024 · February 20, 2025
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
### Management Statement and Operational Highlights - **Retail Excellence Focus**: Maintained focus on quality, value, service, and convenience. Delivered revenue growth and adjusted earnings. Repurchased shares and increased dividend. - **Store Expansion**: Opened 52 new food and drug retail stores and 78 pharmacy care clinics in 2024. Plan to open 80 stores and 100 pharmacist care clinics in 2025. - **Digital Growth**: Online sales increased by 18.4% in the quarter. PC Optimum program liability revalued due to higher redemption rates. - **ESG Initiatives**: Early release of 2024 ESG disclosures, focus on social equity and climate change.
Guidance
### Guidance - **2025 Plans**: Plan to open approximately 50 hard discount stores, 30 Shoppers Drug Mart, and 2 TNT stores. Estimate incremental impact on EPS of approximately 2% from an extra week in 2025. Expect retail business to grow earnings faster than sales with adjusted earnings per share growth in the high single digits. - **Capital Expenditures**: Plan to invest approximately $2.2 billion in capital expenditures and $1.9 billion net of proceeds from property disposal.
Segment performance
### Segment Performance - **Food Retail**: Absolute sales grew 3.7%, reported same-store sales increased 2.5%, adjusted same-store sales growth was up 2% in the quarter. Contributed significantly to overall revenue. - **Drug Retail**: Absolute sales increased 1.3% and same-store sales grew 1.3%. Pharmacy and healthcare services grew same-store sales by 6.3%. Front store same-store sales declined 3.1% due to Canada Post strike and exit of electronics categories. - **PC Financial**: Revenue decreased 2.3%, but adjusted earnings before tax increased by $20 million due to higher interchange and credit card fee income, lower operating costs, and positive ECL provisions.
Risks & headwinds
### Risks - **Inflation Pressures**: Higher than normal pricing increases from global vendors, Canadian dollar weakness impacting US imports, potential tariffs on imports. - **Competitive Environment**: Impact of competitors entering territories, potential drag on gross margins from new store openings and DC ramp-up.
Analyst Q&A
Q: Discuss momentum drivers and share of customer wallet
A: Driven by new stores, delayed cough and cold sales benefits, and market share gains. PC Optimum and store harmonization initiatives contributing.
Q: Impact of new stores and DC on financial results
A: Quantified impact incorporated in guidance, DC ramp-up on plan, new stores expected to provide long-term tailwind.
Q: Tariff exposure and sourcing
A: Less than 10% of COGS from US, mostly in produce; working to mitigate impact, control brands help with tariffs.
Q: Small format stores and consumer response
A: Small formats like No Frills perform well, customers can do full shops, sales increasing weekly.
Q: Retail media business and EPS growth
A: Retail media and trade as a service business expected to grow double-digit, EPS growth expected to be steady with slight gross margin increase.