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LOEWS CORPORATION REPORTS NET INCOME OF $504 MILLION FOR THE THIRD QUARTER OF 2025

LCNA
  • Loews Corporation reported third quarter 2025 net income of $504 million ($2.43 per share), up from $401 million ($1.82 per share) in the prior year period.
  • CNA Financial's net income attributable to Loews rose 43% year-over-year to $371 million, driven by lower catastrophe losses, improved underwriting results, & higher net investment income.
  • CNA's Property & Casualty combined ratio improved 4.4 points to 92.8%, with catastrophe losses dropping to $41 million from $143 million in the same quarter last year.
  • Boardwalk Pipelines net income increased 22% to $94 million due to higher re-contracting rates, completed growth projects, & increased storage, parking, & lending revenues.
  • On October 30, 2025, Boardwalk executed a precedent agreement for the Texas Gateway Project to add 1.5 Bcf/d of capacity, bringing total announced growth projects to 4.2 Bcf/d at an estimated cost of $3.0 billion.
  • Boardwalk's revenue backlog stood at $15.6 billion as of September 30, 2025, with $5.7 billion linked to growth projects under precedent agreements.
  • Loews Hotels' net loss narrowed to $3 million from $8 million, driven by higher equity income from Universal Orlando Resort joint ventures & new property openings, partially offset by Miami Beach Hotel renovations.
  • Corporate segment net income fell to $42 million from $73 million due to lower investment income from the parent company's trading portfolio.
  • Book value per share increased to $88.39 as of September 30, 2025, from $79.49 at the end of 2024, while book value excluding AOCI rose to $94.00.
  • Loews Corporation repurchased 0.6 million shares for $56 million during the third quarter of 2025, with an additional 0.3 million shares bought for $29 million in early October.
  • As of September 30, 2025, the parent company held $3.6 billion in cash & investments against $1.8 billion in debt.
  • For the nine months ended September 30, 2025, consolidated net income reached $1,265 million ($6.03 per share), compared to $1,227 million ($5.54 per share) in 2024.
  • Loews Hotels' nine-month Adjusted EBITDA increased 7% to $259 million, supported by new Universal Orlando properties & improved results at the Arlington Hotel, despite higher interest expenses.