Quarterly ResultMay 4, 2026, 06:12 AM
Loews Q1 Net Income $337M, EPS $1.63; CNA Weakness Offset by Hotels
AI Summary
Loews Corporation reported a net income of $337 million, or $1.63 per share, for the first quarter of 2026, a decrease from $370 million, or $1.74 per share, in the prior-year quarter. The decline was primarily driven by lower contributions from CNA Financial due to unfavorable underwriting results and prior year loss reserve development, and lower investment income at the corporate segment. This was partially offset by strong performance from Boardwalk Pipelines and Loews Hotels, which saw significant increases in net income and Adjusted EBITDA. The company also repurchased 0.3 million shares for $31 million and maintained a strong cash position.
Key Highlights
- Loews Corporation reported Q1 2026 net income of $337 million, down from $370 million in Q1 2025.
- Net income per share was $1.63 in Q1 2026, compared to $1.74 in Q1 2025.
- CNA Financial's net income attributable to Loews decreased to $194 million from $252 million.
- Boardwalk Pipelines' net income increased to $159 million from $152 million.
- Loews Hotels' net income rose significantly to $26 million from less than $1 million.
- Book value per share, excluding AOCI, increased to $97.20 as of March 31, 2026, from $95.89.
- Loews repurchased 0.3 million shares of common stock for $31 million in Q1 2026.
- The parent company had $4.5 billion in cash and investments and $1.8 billion in debt.