Loews Corporation (L) Q4 2025 Financial Results Summary

2026-02-09 · Stocks · QuoteReporter

Loews Corporation (L) Q4 2025 Financial Results Summary

Release Date: February 9, 2026

Loews Corporation (NYSE: L) has released its financial results for the fourth quarter of 2025. Below is a summary of key findings:

Fourth Quarter 2025 Highlights:

• Net Income:
• $402 million or $1.94 per share, up from $187 million or $0.86 per share in Q4 2024.

• Fourth quarter 2024 results included a $265 million pension settlement charge for CNA Financial Corporation.

• CNA Financial Corporation:

• Net income attributable to Loews was $276 million, a significant increase from $19 million in the previous year.
• Core income decreased slightly to $317 million from $342 million.
• Net earned premiums grew by 5%, and net written premiums grew by 2%.

• Property and Casualty’s combined ratio rose to 93.8%, up from 93.1% year-over-year mainly due to a higher loss ratio.

• Boardwalk Pipelines:

• Net income decreased to $110 million from $145 million, impacted by the non-recurrence of a $36 million income tax benefit reported in Q4 2024.

• EBITDA slightly decreased to $287 million compared to $290 million.

• Loews Hotels & Co:

• Net income declined to $6 million from $27 million, affected by a $20 million asset impairment charge.

• Adjusted EBITDA increased by 35% to $113 million from $84 million.

• Corporate Segment:

• Improved results led to a net income of $10 million, compared to a net loss of $4 million in Q4 2024.

• Book Value:

• Book value per share rose to $90.71 from $79.49 in the previous year.

• Excluding AOCI, the book value per share increased to $95.89 from $88.18.

• Financial Position:

• As of December 31, 2025, the company had $3.9 billion in cash and investments and $1.8 billion in debt.

Consolidated Financial Highlights:

• Net Income (Attributable to Loews Corporation):
• Q4 2025: $402 million

• Q4 2024: $187 million

• Total Revenues:

• Q4 2025: $4,734 million

• Q4 2024: $4,546 million (an increase of 4.1%)

• Operating Expenses and Income Before Tax:

• Operating expenses decreased to $4,193 million from $4,358 million.
• Income before tax rose to $541 million, compared to $188 million in 2024.

Full Year 2025 Highlights:

• Net Income:

• $1,667 million or $7.97 per share, compared to $1,414 million or $6.41 per share in 2024.

• Components of Income:

• CNA’s net income attributed to Loews improved significantly compared to the previous year excluding the pension charge impact.
• Boardwalk Pipelines demonstrated gains in transportation revenues, while Loews Hotels faced challenges due to impairments and renovations.

Share Repurchases:

• Loews Corporation repurchased 1.0 million shares for $98 million during Q4 and a total of 8.9 million shares for $782 million throughout 2025.

Dividend Declaration:

• The quarterly dividend was not mentioned in the report; however, the focus appeared to be on share repurchase activities.

The financial results indicate a noteworthy year for Loews Corporation, characterized by robust gains in net income and successful shareholder return strategies through buybacks, despite challenges in specific segments such as hotel operations.

Condensed Consolidated Statements of Income

(In millions)

Condensed Consolidated Balance Sheets

(In millions)

(Note: For the Balance Sheet, total assets, total liabilities were replaced with placeholders as the values were not provided in the original text.)