Loews Corporation reported net income of $306 million, or $1.50 per share, for the third quarter of 2026. This represents a decrease from the $504 million, or $2.43 per share, reported in the same period of 2025.
The company attributes the decline primarily to its insurance subsidiary, CNA Financial Corporation. CNA's net income attributable to Loews fell to $180 million from $371 million in the prior year. The decrease was driven by an unfavorable impact of $125 million after-tax related to annual long-term care reserve assumption updates, along with lower Property and Casualty underwriting results and higher catastrophe losses.
Loews noted that the reserve charge is expected to be largely offset by higher investment yields from recent portfolio actions over time. In its energy segment, Boardwalk Pipelines reported net income of $85 million, down from $94 million. The decline was attributed to $10 million in net unrealized losses at Continuum and a $9 million impairment charge related to the relocation of its corporate office.
Loews Hotels & Co. saw an improvement, reporting net income of $16 million compared to a net loss of $3 million in the prior year. This was driven by higher average daily rates and an increase in occupied room nights. The corporate segment recorded net income of $25 million, a decrease from $42 million, due to lower investment income from the parent company trading portfolio.
As of September 30, 2026, Loews Corporation had $4.4 billion in cash and investments and $1.8 billion in debt. The company repurchased 1.6 million shares of its common stock during the third quarter for a total cost of $167 million. Book value per share was reported at $90.24 as of September 30, 2026, down from $90.71 as of December 31, 2025.
