Loews Corporation (L)

LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCKMay 12, 2026 11:45 AM
PR Newswire (US) NEW YORK, May 12, 2026 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable June 9, 2026 to shareholders of record as of the close of business on May 27, 2026.Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. For more information please visit www.loews.com.  View original content:https://www.prnewswire.com/news-releases/loews-corporation-announces-quarterly-dividend-on-common-stock-302769826.htmlSOURCE Loews Corporation Original: LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCK

LOEWS CORPORATION REPORTS NET INCOME OF $337 MILLION FOR THE FIRST QUARTER OF 2026May 4, 2026 6:00 AM
PR Newswire (US)

NEW YORK, May 4, 2026 /PRNewswire/ -- Loews Corporation (NYSE: L) today released its first quarter 2026 financial results.First Quarter 2026 highlights:
Loews Corporation reported net income of $337 million, or $1.63 per share, in the first quarter of 2026, compared to $370 million, or $1.74 per share, in the first quarter of 2025. The following are key highlights of our first quarter results:CNA Financial Corporation's (NYSE: CNA) net income attributable to Loews Corporation decreased year-over-year primarily due to lower underlying underwriting results and unfavorable net prior year loss reserve development, partially offset by higher net investment income.Boardwalk Pipelines' net income increased year-over-year primarily due to higher contracting rates and utilization-based revenues on gas transportation, as well as higher rates on storage, parking and lending.Loews Hotels' net income increased year-over-year primarily due to higher equity income from joint ventures, driven mainly by the Universal Orlando Resort joint ventures.Corporate segment results decreased year-over-year primarily due to lower investment income from the parent company trading portfolio and higher interest expense.Book value per share increased to $90.90 as of March 31, 2026, from $90.71 as of December 31, 2025.Book value per share, excluding AOCI, increased to $97.20 as of March 31, 2026, from $95.89 as of December 31, 2025.On March 31, 2026, the parent company had $4.5 billion of cash and investments and $1.8 billion of debt.Loews Corporation repurchased 0.3 million shares of its common stock during the first quarter of 2026 for a total cost of $31 million.Consolidated highlights:
Three Months Ended March 31,(In millions)20262025Net Income (Loss) Attributable to Loews Corporation:

CNA Financial$              194$              252Boardwalk Pipelines159152Loews Hotels & Co26—Corporate(42)(34)Net income attributable to Loews Corporation$              337$              370Net income per share attributable to Loews Corporation$             1.63$             1.74

March 31, 2026
December 31, 2025



Book value per share$                     90.90
$                     90.71Book value per share excluding AOCI$                     97.20
$                     95.89Shares of common stock outstanding (in millions)205.8
206.0Three months ended March 31, 2026 compared to 2025CNA:Net income attributable to Loews Corporation was $194 million compared to $252 million.Core income decreased to $225 million compared to $281 million, driven by lower underlying underwriting results and unfavorable net prior year loss reserve development, partially offset by higher net investment income.Net earned premiums grew by 3% and net written premiums grew by 1%.Property and Casualty's combined ratio increased by 3.8 points to 102.2% compared to 98.4% largely due to a higher underlying loss ratio and unfavorable net prior year loss reserve development. Property and Casualty's underlying combined ratio increased to 94.5% from 92.1%.Property and Casualty's underlying loss ratio increased by 2.6 points, mainly driven by higher loss cost trends and lower than expected rate in certain lines in recent quarters.Property and Casualty's unfavorable net prior year loss reserve development increased from $61 million to $100 million mainly driven by professional errors & omissions and excess casualty in recent accident years.Net investment income increased due to higher income from fixed income securities, as a result of a larger invested asset base and favorable reinvestment rates, partially offset by lower common stock returns.Boardwalk:Net income increased to $159 million compared to $152 million.EBITDA increased to $360 million compared to $346 million.Net income and EBITDA improved due to higher contracting rates and utilization-based revenues on gas transportation as well as higher rates on storage, parking and lending, partially offset by lower product sales and higher operating expenses.Loews Hotels:Net income increased to $26 million compared to less than $1 million.Adjusted EBITDA increased 53% to $124 million compared to $81 million.Net income and adjusted EBITDA improved primarily due to higher equity income from joint ventures driven by growth in the overall average daily rate and an increase in both the number of available and the number of occupied room nights at the Universal Orlando Resort, including the addition of the three new hotels that opened in 2025.Corporate:Net loss of $42 million compared to a net loss of $34 million.Results decreased primarily due to lower investment income from the parent company trading portfolio and higher interest expense related to recent debt refinancing.Share Purchases:On March 31, 2026, there were 205.8 million shares of Loews common stock outstanding.During the three months ended March 31, 2026, Loews Corporation repurchased 0.3 million shares of its common stock for a total cost of $31 million.Depending on market conditions, Loews may from time to time purchase shares of its and its subsidiaries' outstanding common stock in the open market (including, with respect to Loews common stock, in open market transactions that may or may not satisfy all of the conditions of the Rule 10b-18 voluntary safe harbor), in privately negotiated transactions or otherwise.Reconciliation of GAAP Measures to Non-GAAP MeasuresThis news release contains financial measures that are not in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management believes some investors may find these measures useful to evaluate our and our subsidiaries' financial performance. CNA utilizes core income, underlying loss ratio and underlying combined ratio. Boardwalk utilizes earnings before interest, income tax expense, depreciation and amortization ("EBITDA"), and Loews Hotels utilizes Adjusted EBITDA. These non-GAAP measures are defined and reconciled to the most comparable GAAP measures on pages 6 and 7 of this release.Earnings RemarksFor Loews CorporationToday, May 4, 2026, earnings remarks will be available on the Investors section of our website at www.loews.com. Remarks will include commentary from Loews's president and chief executive officer and chief financial officer.For CNAToday, May 4, 2026, earnings remarks will be available on the Investor Relations section of CNA's website at www.cna.com. Remarks will include commentary from CNA's president and chief executive officer and chief financial officer.About Loews Corporation Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality and packaging industries. For more information, please visit www.loews.com. Forward-Looking StatementsStatements contained in this news release which are not historical facts are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by the Company. A discussion of the important risk factors and other considerations that could materially impact these matters, as well as the Company's overall business and financial performance, can be found in the Company's reports filed with the Securities and Exchange Commission and readers of this release are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company's website (www.loews.com). Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Any such forward-looking statements speak only as of the date of this news release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.Loews Corporation and SubsidiariesSelected Financial Information 
Three Months Ended March 31,(In millions)20262025Revenues:

CNA Financial (a)$           3,677$           3,627Boardwalk Pipelines631622Loews Hotels & Co254245Corporate investment income (loss), net and other(7)—Total$           4,555$           4,494Income (Loss) Before Income Tax:

CNA Financial (a)$              267$              349Boardwalk Pipelines211202Loews Hotels & Co374Corporate:

Investment income (loss), net(4)—Other (b)(48)(41)Total$              463$              514Net Income (Loss) Attributable to Loews Corporation:

CNA Financial (a)$              194$              252Boardwalk Pipelines159152Loews Hotels & Co26—Corporate:

Investment income (loss), net(3)—Other (b)(39)(34)Net income attributable to Loews Corporation$              337$              370

(a) The three months ended March 31, 2026 and 2025 include net investment losses of $18 million and $9 million ($13 million and $6 million after tax and noncontrolling interests).(b) Consists of parent company interest expense, corporate expenses and the equity income (loss) of Altium Packaging. Loews Corporation and SubsidiariesConsolidated Financial Review 
Three Months Ended March 31,(In millions, except per share data)20262025Revenues:

Insurance premiums$           2,699$           2,626Net investment income613608Investment losses(18)(9)Operating revenues and other1,2611,269Total4,5554,494


Expenses:

Insurance claims and policyholders' benefits2,1752,027Operating expenses and other1,9171,953Total4,0923,980


Income before income tax463514Income tax expense(109)(122)Net income354392Amounts attributable to noncontrolling interests(17)(22)Net income attributable to Loews Corporation$              337$              370


Net income per share attributable to Loews Corporation$             1.63$             1.74


Weighted average number of shares206.27212.60Definitions of Non-GAAP Measures and Reconciliation of GAAP Measures to Non-GAAP Measures:CNA Financial CorporationCore income is calculated by excluding from CNA's net income attributable to Loews Corporation the after-tax effects of investment gains or losses and gains or losses resulting from pension settlement transactions. In addition, core income excludes the effects of noncontrolling interests. The calculation of core income excludes investment gains or losses because they are generally driven by economic factors that are not necessarily reflective of CNA's primary insurance operations. The calculation of core income excludes gains or losses resulting from pension settlement transactions as they result from decisions regarding CNA's defined benefit pension plans which are unrelated to its primary insurance operations.The following table presents a reconciliation of CNA net income attributable to Loews Corporation to core income:
Three Months Ended March 31,(In millions)20262025CNA net income attributable to Loews Corporation$              194$              252Investment losses147Noncontrolling interests1722Core income$              225$              281In evaluating the results of Property & Casualty operations, CNA utilizes the loss ratio, the underlying loss ratio, the expense ratio, the dividend ratio, the combined ratio and the underlying combined ratio. These ratios are calculated using GAAP financial results. The loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums. The underlying loss ratio excludes the impact of catastrophe-related reinstatement premiums, catastrophe losses and development-related items from the loss ratio. Development-related items represent net prior year loss reserve and premium development, and includes the effects of interest accretion and change in allowance for uncollectible reinsurance. The expense ratio is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums. The dividend ratio is the ratio of policyholders' dividends incurred to net earned premiums. The combined ratio is the sum of the loss ratio, the expense ratio and the dividend ratio. The underlying combined ratio is the sum of the underlying loss ratio, the expense ratio and the dividend ratio. The underlying loss ratio and the underlying combined ratio are deemed to be non-GAAP financial measures, and management believes some investors may find these ratios useful to evaluate CNA's underwriting performance since they remove the impact of catastrophe losses which are unpredictable as to timing and amount, and development-related items as they are not indicative of current year underwriting performance.The following table presents a reconciliation of CNA's loss ratio to underlying loss ratio and CNA's combined ratio to underlying combined ratio:
Three Months Ended March 31,
20262025Loss ratio71.8 %67.8 %Expense ratio29.930.2Dividend ratio0.50.4Combined ratio102.2 %98.4 %Less: Effect of catastrophe impacts3.63.8Less: Effect of development-related items4.12.5Underlying combined ratio94.5 %92.1 %Underlying loss ratio64.1 %61.5 %Boardwalk PipelinesEBITDA is defined as earnings before interest, income tax expense, depreciation and amortization. The following table presents a reconciliation of Boardwalk's net income attributable to Loews Corporation to its EBITDA:
Three Months Ended March 31,(In millions)20262025Boardwalk net income attributable to Loews Corporation$              159$              152Interest, net3838Income tax expense5250Depreciation and amortization111106EBITDA$              360$              346Loews Hotels & CoAdjusted EBITDA is calculated by excluding from Loews Hotels & Co's EBITDA, the noncontrolling interest share of EBITDA adjustments, gains or losses on asset acquisitions and dispositions, asset impairments, and equity method income, and including Loews Hotels & Co's pro rata Adjusted EBITDA of equity method investments. Pro rata Adjusted EBITDA of equity method investments is calculated by applying Loews Hotels & Co's ownership percentage to the underlying equity method investment's components of Adjusted EBITDA and excluding distributions in excess of basis.The following table presents a reconciliation of Loews Hotels & Co net income attributable to Loews Corporation to its Adjusted EBITDA:
Three Months Ended March 31,(In millions)20262025Loews Hotels & Co net income attributable to Loews Corporation$               26$                —Interest, net1213Income tax expense114Depreciation and amortization2624EBITDA7541Noncontrolling interest share of EBITDA adjustments
(1)Asset impairments9
Equity investment adjustments:

Loews Hotels & Co's equity method income(44)(6)Pro rata Adjusted EBITDA of equity method investments8346Consolidation adjustments11Adjusted EBITDA$              124$               81The following table presents a reconciliation of Loews Hotels & Co's equity method income to the Pro rata Adjusted EBITDA of its equity method investments:
Three Months Ended March 31,(In millions)20262025Loews Hotels & Co's equity method income$               44$                 6Pro rata share of equity method investments:

Interest, net1710Income tax expense

Depreciation and amortization1713Asset impairments
9Distributions in excess of basis79Other adjustments(2)(1)Pro rata Adjusted EBITDA of equity method investments$               83$               46 



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Original: LOEWS CORPORATION REPORTS NET INCOME OF $337 MILLION FOR THE FIRST QUARTER OF 2026

LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCKFebruary 10, 2026 11:08 AM
PR Newswire (US)

NEW YORK, Feb. 10, 2026 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable March 10, 2026 to shareholders of record as of the close of business on February 25, 2026. Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. For more information please visit www.loews.com. 



View original content:https://www.prnewswire.com/news-releases/loews-corporation-announces-quarterly-dividend-on-common-stock-302684004.htmlSOURCE Loews Corporation

Original: LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCK

Loews Posts Strong Q4 as Earnings More Than Double Year on YearFebruary 9, 2026 9:52 AM
IH Market News
Loews Corporation (NYSE:L) reported a sharp improvement in fourth-quarter results on Monday, with net income rising to $402 million, or $1.94 per share, compared with $187 million, or $0.86 per share, in the same quarter a year earlier. Quarterly revenue increased to $4.73 billion from $4.55 billion last year.Despite the stronger earnings, Loews shares slipped 0.78% in after-hours trading following the release.The year-on-year jump in profit largely reflected the absence of a $265 million pension settlement charge that weighed on results at CNA Financial Corporation in the prior-year period.Adjusting for that pension charge in 2024, CNA’s contribution to Loews’ earnings edged lower, mainly due to an unfavorable non-economic charge tied to an asbestos and environmental pollution loss portfolio transfer, as well as softer underwriting income. These factors were partly offset by higher net investment income. CNA’s net earned premiums increased 5% compared with a year earlier.At Boardwalk Pipelines, net income declined to $110 million from $145 million in the prior-year quarter, primarily because a $36 million income tax benefit recorded in the fourth quarter of 2024 did not recur. Loews Hotels also delivered a weaker contribution, with net income falling to $6 million from $27 million, reflecting a $20 million after-tax asset impairment charge linked to the planned replacement of the Arlington Sheraton Hotel.Loews’ book value per share rose to $90.71 as of December 31, 2025, up from $79.49 a year earlier. The group ended the year with $3.9 billion in cash and investments at the parent company level, alongside $1.8 billion in outstanding debt.Loews Corporation stock price

Original: Loews Posts Strong Q4 as Earnings More Than Double Year on Year

LOEWS CORPORATION REPORTS NET INCOME OF $402 MILLION FOR THE FOURTH QUARTER OF 2025 AND $1,667 MILLION FOR THE FULL YEARFebruary 9, 2026 6:00 AM
PR Newswire (US)

8.9 MILLION COMMON SHARES REPURCHASED IN 2025 FOR $782 MILLIONNEW YORK, Feb. 9, 2026 /PRNewswire/ -- Loews Corporation (NYSE: L) today released its fourth quarter 2025 financial results.Fourth Quarter 2025 highlights:
Loews Corporation reported net income of $402 million, or $1.94 per share, in the fourth quarter of 2025, compared to $187 million, or $0.86 per share, in the fourth quarter of 2024. The fourth quarter results for 2024 included a pension settlement charge for CNA of $265 million (after-tax and noncontrolling interests). The following are key highlights of our fourth quarter results:CNA Financial Corporation's (NYSE: CNA) net income attributable to Loews Corporation excluding the 2024 pension charge decreased slightly year-over-year due to an unfavorable non-economic charge related to the asbestos and environmental pollution loss portfolio transfer and lower underwriting income, partially offset by higher net investment income.Boardwalk Pipelines' net income decreased year-over-year primarily due to the non-recurrence of an income tax benefit of $36 million recorded in the fourth quarter of 2024.Loews Hotels' net income decreased year-over-year primarily due to an asset impairment charge of $20 million (after tax) related to the planned replacement of the Arlington Sheraton Hotel with the Americana by Loews Hotels in Arlington, Texas.Corporate segment results improved year-over-year due to higher investment income from the parent company trading portfolio.Book value per share increased to $90.71 as of December 31, 2025, from $79.49 as of December 31, 2024.Book value per share, excluding AOCI, increased to $95.89 as of December 31, 2025, from $88.18 as of December 31, 2024.On December 31, 2025, the parent company had $3.9 billion of cash and investments and $1.8 billion of debt.Loews Corporation repurchased 1.0 million shares of its common stock during the fourth quarter of 2025 for a total cost of $98 million.Consolidated highlights:
December 31,
Three MonthsYears Ended(In millions)2025202420252024Net Income (Loss) Attributable to Loews Corporation:



CNA Financial$          276$           19$       1,173$          879Boardwalk Pipelines110145444413Loews Hotels & Co6273170Corporate10(4)1952Net income attributable to Loews Corporation$          402$          187$       1,667$       1,414Net income per share attributable to Loews Corporation$         1.94$         0.86$         7.97$         6.41 
December 31, 2025
December 31, 2024



Book value per share$                         90.71
$                         79.49Book value per share excluding AOCI$                         95.89
$                         88.18Shares of common stock outstanding (in millions)206.0
214.7Three months ended December 31, 2025 compared to 2024CNA:Net income attributable to Loews Corporation was $276 million compared to $19 million.Net income for 2024 includes a pension settlement charge of $265 million. Excluding this pension charge, net income attributable to Loews Corporation was $284 million in the fourth quarter of 2024.Core income decreased to $317 million compared to $342 million, driven by an unfavorable non-economic charge related to the asbestos and environmental pollution loss portfolio transfer. Underwriting income was also lower, partially offset by higher net investment income.Net earned premiums grew by 5% and net written premiums grew by 2%.Property and Casualty's combined ratio increased by 0.7 points to 93.8% compared to 93.1% largely due to a higher underlying loss ratio. Property and Casualty's underlying combined ratio increased to 92.3% from 91.4%.Net investment income increased due to higher income from fixed income securities, as a result of a larger invested asset base and favorable reinvestment rates, partially offset by lower common stock returns.Boardwalk:Net income decreased to $110 million compared to $145 million.Net income for 2024 included a $36 million income tax benefit from an adjustment to deferred state income taxes for a rate reduction effective in 2025.EBITDA decreased to $287 million compared to $290 million.Net income and EBITDA were impacted by an increase in legal expenses, offset by increased transportation revenues from higher re-contracting rates and recently completed growth projects, as well as increased storage and parking and lending revenues.Loews Hotels:Net income decreased to $6 million compared to $27 million.Adjusted EBITDA increased 35% to $113 million compared to $84 million.Net income for 2025 was negatively impacted by an asset impairment charge of $20 million (after tax) related to the planned replacement of the Arlington Sheraton Hotel with the Americana by Loews Hotels in Arlington, Texas.Adjusted EBITDA improvement was driven by the addition of three new properties at the Universal Orlando Resort as well as higher average daily rates and occupancy at the other Universal Orlando Resort properties. In addition, results improved at the Loews Arlington Hotel and Convention Center. These positives were partially offset by the reduction in available room nights at the Loews Miami Beach Hotel due to renovations at the property.Corporate:Net income of $10 million compared to a net loss of $4 million.The improved results are primarily due to higher investment income from the parent company trading portfolio.Year ended December 31, 2025 compared to 2024Loews Corporation reported net income of $1,667 million, or $7.97 per share, compared to $1,414 million, or $6.41 per share, in 2024. Net income for 2024 includes a pension settlement charge for CNA of $265 million (after-tax and noncontrolling interests).Excluding the pension charge in 2024, CNA's net income attributable to Loews Corporation increased due to higher Property and Casualty underwriting income and net investment income, partially offset by unfavorable net prior year loss reserve development related to legacy mass tort abuse reserves.Boardwalk's net income and EBITDA improved due to increased transportation revenues from higher re-contracting rates, recently completed growth projects and higher utilization-based revenue, as well as increased storage and parking and lending revenues. Those positives were partially offset by higher operating costs and higher depreciation expense.Loews Hotels' net income decreased primarily due to an asset impairment charge, higher interest expense and renovations at the Loews Miami Beach Hotel, partially offset by improved results at the Universal Orlando Resort properties and the Loews Arlington Hotel and Convention Center, which was open for the entirety of 2025.Corporate net income decreased primarily due to lower investment income from the parent company trading portfolio.Share Purchases:On December 31, 2025, there were 206.0 million shares of Loews common stock outstanding.For the three months and year ended December 31, 2025, Loews Corporation repurchased 1.0 million and 8.9 million shares of its common stock for a total cost of $98 million and $782 million, respectively.Depending on market conditions, Loews may from time to time purchase shares of its and its subsidiaries' outstanding common stock in the open market (including, with respect to Loews common stock, in open market transactions that may or may not satisfy all of the conditions of the Rule 10b-18 voluntary safe harbor), in privately negotiated transactions or otherwise.Boardwalk LitigationAs a reminder, in December, the Delaware Supreme Court issued a ruling in the litigation related to Loews Corporation's 2018 acquisition of the minority limited partner interests in its Boardwalk Pipelines subsidiary. The Supreme Court found that the Boardwalk general partner, an indirect subsidiary of Loews Corporation, breached the underlying partnership agreement in connection with its exercise of the purchase right to acquire the minority limited partner interests. In its previous ruling in 2022, the Delaware Supreme Court had ruled that the Boardwalk general partner was exculpated from damages related to its exercise of the purchase right. The remaining claims that have been remanded back to the Delaware Chancery Court for further proceedings following the Supreme Court's latest decision are tortious interference and unjust enrichment claims against Loews and certain of its Boardwalk-related subsidiaries. The Supreme Court resolved the other remaining claims in Loews's favor.Reconciliation of GAAP Measures to Non-GAAP MeasuresThis news release contains financial measures that are not in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management believes some investors may find these measures useful to evaluate our and our subsidiaries' financial performance. CNA utilizes core income, underlying loss ratio and underlying combined ratio. Boardwalk utilizes earnings before interest, income tax expense, depreciation and amortization ("EBITDA"), and Loews Hotels utilizes Adjusted EBITDA. These non-GAAP measures are defined and reconciled to the most comparable GAAP measures on pages 7 through 9 of this release.Earnings RemarksFor Loews Corporation     –      Today, February 9, 2026, earnings remarks will be available on the Investors section of our website at www.loews.com.
     –      Remarks will include commentary from Loews's president and chief executive officer and chief financial officer.For CNA     –      Today, February 9, 2026, earnings remarks will be available on the Investor Relations section of CNA's website at www.cna.com.
     –      Remarks will include commentary from CNA's president and chief executive officer and chief financial officer.About Loews Corporation Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality and packaging industries. For more information, please visit www.loews.com.Forward-Looking StatementsStatements contained in this news release which are not historical facts are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by the Company. A discussion of the important risk factors and other considerations that could materially impact these matters, as well as the Company's overall business and financial performance, can be found in the Company's reports filed with the Securities and Exchange Commission and readers of this release are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company's website (www.loews.com). Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Any such forward-looking statements speak only as of the date of this news release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based. Loews Corporation and Subsidiaries
Selected Financial Information

December 31,
Three MonthsYears Ended(In millions)2025202420252024Revenues:



CNA Financial (a)$        3,828$        3,689$      14,989$      14,270Boardwalk Pipelines6195772,3242,065Loews Hotels & Co235240945933Corporate investment income, net5240196242Total$        4,734$        4,546$      18,454$      17,510Income (Loss) Before Income Tax:



CNA Financial (a) (b)$           378$            21$        1,620$        1,211Boardwalk Pipelines141145584505Loews Hotels & Co (c)12325295Corporate:



Investment income, net5340199243Other (d)(43)(50)(172)(180)Total$           541$           188$        2,283$        1,874Net Income (Loss) Attributable to Loews Corporation:



CNA Financial (a) (b)$           276$            19$        1,173$           879Boardwalk Pipelines (e)110145444413Loews Hotels & Co (c)6273170Corporate:



Investment income, net4133158193Other (d)(31)(37)(139)(141)Net income attributable to Loews Corporation$           402$           187$        1,667$        1,414
(a)   The three months ended December 31, 2025 and 2024 include net investment losses of $19 million and $39 million        ($14 million and $29 million after tax and noncontrolling interests). The years ended December 31, 2025 and 2024         include net investment losses of $81 million and $81 million ($59 million and $59 million after tax and noncontrolling         interests).(b)   Includes a pension settlement charge of $367 million ($265 million after tax and noncontrolling interests) for the         three months and year ended December 31, 2024.(c)    Includes an asset impairment charge of $25 million ($20 million after tax) for the three months and year ended         December 31, 2025 related to the replacement of the Arlington Sheraton Hotel with the Americana by Loews Hotels         in Arlington, Texas. The years ended December 31, 2025 and 2024 include Loews Hotels & Co's portion of joint         venture impairment charges which reduced equity income from joint ventures by $9 million ($6 million after tax) and         $19 million ($15 million after tax).(d)   Consists of parent company interest expense, corporate expenses and the equity income (loss) of Altium Packaging.(e)   Includes a $36 million income tax benefit from an adjustment to deferred state income taxes for a rate reduction        effective in 2025 for the three months and year ended December 31, 2024. Loews Corporation and Subsidiaries
Consolidated Financial Review 
December 31,
Three MonthsYears Ended(In millions, except per share data)2025202420252024Revenues:



Insurance premiums$        2,797$        2,679$      10,900$      10,211Net investment income7146962,7792,780Investment losses(19)(39)(81)(81)Operating revenues and other1,2421,2104,8564,600Total4,7344,54618,45417,510




Expenses:



Insurance claims and policyholders' benefits2,1502,0308,2947,738Operating expenses and other (a)2,0432,3287,8777,898Total4,1934,35816,17115,636




Income before income tax5411882,2831,874Income tax (expense) benefit (b)(113)1(511)(380)Net income4281891,7721,494Amounts attributable to noncontrolling interests(26)(2)(105)(80)Net income attributable to Loews Corporation$           402$           187$        1,667$        1,414




Net income per share attributable to Loews Corporation$          1.94$          0.86$          7.97$          6.41




Weighted average number of shares206.80217.83209.10220.53
(a)   Includes a pension settlement charge of $367 million ($265 million after tax and noncontrolling interests) for the        three months and year ended December 31, 2024.(b)   Includes a $36 million income tax benefit from an adjustment to deferred state income taxes for a rate reduction                  effective in 2025 for the three months and year ended December 31, 2024.Definitions of Non-GAAP Measures and Reconciliation of GAAP Measures to Non-GAAP Measures:CNA Financial CorporationCore income is calculated by excluding from CNA's net income attributable to Loews Corporation the after-tax effects of investment gains or losses and gains or losses resulting from pension settlement transactions. In addition, core income excludes the effects of noncontrolling interests. The calculation of core income excludes investment gains or losses because they are generally driven by economic factors that are not necessarily reflective of CNA's primary insurance operations. The calculation of core income excludes gains or losses resulting from pension settlement transactions as they result from decisions regarding CNA's defined benefit pension plans which are unrelated to its primary insurance operations.The following table presents a reconciliation of CNA net income attributable to Loews Corporation to core income:
December 31,
Three MonthsYears Ended(In millions)2025202420252024CNA net income attributable to Loews Corporation$           276$            19$        1,173$           879Investment losses15316464Pension settlement losses
290
293Noncontrolling interests26210580Core income$           317$           342$        1,342$        1,316In evaluating the results of Property & Casualty operations, CNA utilizes the loss ratio, the underlying loss ratio, the expense ratio, the dividend ratio, the combined ratio and the underlying combined ratio. These ratios are calculated using GAAP financial results. The loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums. The underlying loss ratio excludes the impact of catastrophe losses and development-related items from the loss ratio. Development-related items represent net prior year loss reserve and premium development, and includes the effects of interest accretion and change in allowance for uncollectible reinsurance. The expense ratio is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums. The dividend ratio is the ratio of policyholders' dividends incurred to net earned premiums. The combined ratio is the sum of the loss ratio, the expense ratio and the dividend ratio. The underlying combined ratio is the sum of the underlying loss ratio, the expense ratio and the dividend ratio. The underlying loss ratio and the underlying combined ratio are deemed to be non-GAAP financial measures, and management believes some investors may find these ratios useful to evaluate CNA's underwriting performance since they remove the impact of catastrophe losses which are unpredictable as to timing and amount, and development-related items as they are not indicative of current year underwriting performance.The following table presents a reconciliation of CNA's loss ratio to underlying loss ratio and CNA's combined ratio to underlying combined ratio:
December 31,
Three MonthsYears Ended
2025202420252024Loss ratio63.4 %62.8 %64.6 %64.3 %Expense ratio30.130.029.730.2Dividend ratio0.30.30.40.4Combined ratio93.8 %93.1 %94.7 %94.9 %Less: Effect of catastrophe impacts1.51.82.33.6Less: Effect of development-related items
(0.1)0.6(0.2)Underlying combined ratio92.3 %91.4 %91.8 %91.5 %Underlying loss ratio61.9 %61.1 %61.7 %60.9 %Boardwalk PipelinesEBITDA is defined as earnings before interest, income tax expense, depreciation and amortization. The following table presents a reconciliation of Boardwalk's net income attributable to Loews Corporation to its EBITDA:
December 31,
Three MonthsYears Ended(In millions)2025202420252024Boardwalk net income attributable to Loews      Corporation$           110$           145$           444$           413Interest, net3637147152Income tax expense31
14092Depreciation and amortization110108443429EBITDA$           287$           290$        1,174$        1,086Loews Hotels & CoAdjusted EBITDA is calculated by excluding from Loews Hotels & Co's EBITDA, the noncontrolling interest share of EBITDA adjustments, gains or losses on asset acquisitions and dispositions, asset impairments, and equity method income, and including Loews Hotels & Co's pro rata Adjusted EBITDA of equity method investments. Pro rata Adjusted EBITDA of equity method investments is calculated by applying Loews Hotels & Co's ownership percentage to the underlying equity method investment's components of Adjusted EBITDA and excluding distributions in excess of basis.The following table presents a reconciliation of Loews Hotels & Co net income attributable to Loews Corporation to its Adjusted EBITDA:
December 31,
Three MonthsYears Ended(In millions)2025202420252024Loews Hotels & Co net income attributable to Loews      Corporation$              6$            27$            31$            70Interest, net14125742Income tax expense652125Depreciation and amortization252410093EBITDA5168209230Noncontrolling interest share of EBITDA adjustments
(1)(2)(6)Asset impairments25
25
Equity investment adjustments:



Loews Hotels & Co's equity method income(42)(27)(102)(86)Pro rata Adjusted EBITDA of equity method     investments7644240188Consolidation adjustments3
2
Adjusted EBITDA$           113$            84$           372$           326The following table presents a reconciliation of Loews Hotels & Co's equity method income to the Pro rata Adjusted EBITDA of its equity method investments:
December 31,
Three MonthsYears Ended(In millions)2025202420252024Loews Hotels & Co's equity method income$            42$            27$           102$            86Pro rata share of equity method investments:



Interest, net19106240Income tax expense



Depreciation and amortization16126147Asset impairments

919Distributions in excess of basis(1)(5)6(4)Pro rata Adjusted EBITDA of equity method      investments$            76$            44$           240$           188 



View original content:https://www.prnewswire.com/news-releases/loews-corporation-reports-net-income-of-402-million-for-the-fourth-quarter-of-2025-and-1-667-million-for-the-full-year-302681913.htmlSOURCE Loews Corporation

Original: LOEWS CORPORATION REPORTS NET INCOME OF $402 MILLION FOR THE FOURTH QUARTER OF 2025 AND $1,667 MILLION FOR THE FULL YEAR

Walmart has this 'Issue' now as well with third party selling. Not that big of a deal as soon it will be fixed with AI

Its a good company overall, just rather own Home Depot

Your grievance seems minor not a reason for a compelling reason to short the company

The I.T. department should fix the errors related to the search terms during the checkout process. It took a cashier over 10 mins to find "gray cement brick" in their system because it had over 4,000 results. That one store doesn't carry that many items related to that product. There is no reason to have a search related to the entire company when I just want to know what is available in the store that I am currently shopping.

Double top then the drop

Lovn Lyft

Lee Cooperman on CNBC Fastmoney tomorrow morn. 6 months back Cooperman mentioned family fund ownership of LARGO Resulting in a quiclk rocket ^ 75% (check the chart)

Nice upward movement on Loews today.

Lowes moving past $50 today. Very strong in every area.

Loews picking up as Spring nears. Nice upward movement.

need a second look at this one

divvy to low... missed this one , that is propably wh

Loews-Corporation Q2-Earnings

Loews had net income of $269 million, or $0.69 per share for the second quarter of 2013 as compared to $56 million or $0.14 per share for the same quarter last year

http://www.earningsimpact.com/Transcript/82326/L/Loews-Corporation---Q2-2013-Earnings-Call

This is something new and interesting... Presentation transcript while event is still going on! good one

http://www.earningsimpact.com/Presentation/82247

Surprising and highly disappointing share reaction to rebuilding after Hurricane Sandy. Home Depot faring quite a bit better at the market open.

~ $L ~ Earnings posted, pending or coming soon! In Charts and Links Below!

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*If the earnings date is in error please ignore error. I do my best.

Loews Corporation is a holding company. The lines of business the Company’s subsidiaries are engaged in include commercial property and casualty insurance (CNA Financial Corporation (CNA), a 90%-owned subsidiary); operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling, Inc., a 50.4%-owned subsidiary); exploration, production and marketing of natural gas and natural gas liquids (HighMount Exploration & Production LLC, a wholly owned subsidiary); operation of interstate natural gas transmission pipeline systems (Boardwalk Pipeline Partners, LP, a 66%-owned subsidiary), and operation of hotels (Loews Hotels Holding Corporation, a wholly owned subsidiary).

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