Loews Corporation reported third‑quarter 2025 net income of $504 million, or $2.43 per share, a 25.7% increase from the $401 million earned in the same period a year earlier. Total revenue for the quarter was $4.671 billion, up 4.6% from $4.466 billion in Q3 2024.
Segment performance highlighted a strong contribution from CNA, which generated $371 million in net income, up 43% from $259 million in Q3 2024. Boardwalk Pipelines added $94 million, an increase of 22% from $77 million, while Loews Hotels posted a modest loss of $3 million compared to an $8 million loss in the prior year. Corporate activities contributed $42 million, down from $73 million in Q3 2024.
For the nine‑month period ending September 30, 2025, Loews reported net income of $1.265 billion, or $6.03 per share, versus $1.227 billion, or $5.54 per share, a 3.1% rise. Revenue for the nine months was $13.720 billion, up 6.3% from $12.964 billion a year earlier. Management indicated that guidance and outlook would be discussed during the earnings call, but no specific figures were released.
Additional context: Boardwalk Pipelines executed a precedent agreement for its Texas Gateway Project on October 30, 2025, adding 1.5 Bcf/d of capacity. CNA’s leadership transition saw Dino Robusto elected to Loews’ board effective January 1, 2026, and Douglas M. Worman appointed president and CEO of CNA. Loews repurchased 0.6 million shares of its common stock for $56 million in Q3 2025. Book value per share rose to $88.39 from $79.49, and the company held $3.6 billion in cash and investments against $1.8 billion of debt.
Industry context: CNA’s stronger results were driven by lower catastrophe losses and higher net investment income, while Boardwalk’s improvement was linked to higher re‑contracting rates and completed growth projects amid natural gas transportation tailwinds.
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