#United States #New York #Boardwalk Pipelines #CNA Financial #Loews Corporation

Loews Corporation’s Financial Highlights for Q2 2025

Loews Corporation (NYSE: L) recently announced its financial results for the second quarter of 2025, revealing a net income of $391 million, or $1.87 per share. This marks a substantial increase from the net income of $369 million, or $1.67 per share, reported during the same quarter in 2024. This performance reflects the company’s robust operational strategies and resilience even amid market challenges.

Breakdown of Key Segments

1. CNA Financial Corporation:
- Net Income: For the quarter, net income attributable to Loews from CNA Financial declined to $274 million, down from $291 million the previous year. The decrease was largely driven by adverse developments in prior year loss reserves related to mass tort abuse, compounded by elevated investment losses. However, this was partly cushioned by improved net investment income and enhanced underwriting outcomes in Property and Casualty.

2. Boardwalk Pipelines:
- This segment experienced an impressive growth in net income, which rose to $88 million, a significant increase from $70 million in Q2 2024. The improvement is attributed to higher re-contracting rates and successful completion of pivotal growth projects which bolstered revenue.

3. Loews Hotels:
- Contrarily, this segment reported a drop in net income to $28 million, down from $35 million over the same period last year. This downturn was primarily due to decreased equity income from joint ventures, mainly attributed to higher expenses linked to the three new hotels at Universal Orlando Resort that opened in 2025, along with increased interest expenses.

4. Corporate Segment:
- The corporate segment saw a notable recovery, reporting a net income of $1 million compared to a loss of $27 million in the previous year. This positive turnaround was driven by improved investment income from the parent trading portfolio.

Book Value and Financial Resilience

As of June 30, 2025, the book value per share experienced a notable increase to $84.42 from $79.49 recorded at the end of 2024. Additionally, when excluding Accumulated Other Comprehensive Income (AOCI), the book value per share rises to $91.66, up from $88.18. This increase can be attributed to strong operational performance in the first half of the year.

On the liquidity front, Loews maintains a robust balance sheet with $3.4 billion in cash and investments against $1.8 billion in total debt, ensuring financial flexibility and capacity for future investments.

Share Repurchase Program

Reflecting confidence in its financial standing, Loews Corporation repurchased 2.9 million shares of its common stock during Q2 2025 at a cost of approximately $251 million. These actions indicate the company's commitment to enhancing shareholder value. Post-repurchase, 207.5 million shares of common stock remain outstanding.

Looking Forward

Looking ahead, Loews’ management remains optimistic regarding future performance and is poised to navigate ongoing market challenges while capitalizing on growth opportunities. As a diversified holding in insurance, hospitality, and energy sectors, Loews Corporation’s adaptive strategy aims to enhance profitability and shareholder returns amidst fluctuating economic conditions.

For further insights, investors can access detailed earnings remarks from Loews’ president and CEO on the company’s investor relations website.

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About Loews Corporation
Loews Corporation is a well-diversified company with interests in insurance, energy, hospitality, and packaging industries. For more information, visit www.loews.com.