• Loews average gross margin for 2023 was 54.1%, a 0.82% increase from 2022.
• Loews average gross margin for 2022 was 53.66%, a 4.72% increase from 2021.
• Loews average gross margin for 2021 was 56.32%, a 5.31% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.