Company: L
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000060086-25-000181
Chunk: 153

Company: LOEWS CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 153
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 shareholders. We are not responsible for the liabilities and obligations of our subsidiaries and there are no Parent Company guarantees. 

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Table of contents

RESULTS OF OPERATIONS

Consolidated Financial Results

The following table summarizes net income (loss) attributable to Loews Corporation by segment and the basic and diluted net income per share attributable to Loews Corporation for the three and nine months ended September 30, 2025 and 2024:

Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024(In millions, except per share data)     CNA Financial$371 $259 $897 $860 Boardwalk Pipelines94 77 334 268 Loews Hotels & Co(3)(8)25 43 Corporate42 73 9 56 Net income attributable to Loews Corporation$504 $401 $1,265 $1,227    Basic net income per share$2.43 $1.83 $6.03 $5.55    Diluted net income per share$2.43 $1.82 $6.03 $5.54 

Net income attributable to Loews Corporation for the three months ended September 30, 2025 was $504 million, or $2.43 per share, compared to net income of $401 million, or $1.82 per share in the comparable 2024 period. Net income attributable to Loews Corporation for the nine months ended September 30, 2025 was $1,265 million, or $6.03 per share, compared to net income of $1,227 million, or $5.54 per share in the comparable 2024 period. 

The increase in net income attributable to Loews Corporation for the three months ended September 30, 2025 as compared to the comparable 2024 period was primarily driven by higher net income at CNA and Boardwalk Pipelines and improved results at Loews Hotels & Co, partially offset by lower investment income at the parent company. The increase at CNA is driven by improved underwriting results in CNA’s commercial property and casualty insurance operations primarily due to lower catastrophe losses, improved underlying underwriting results and higher net investment income. The increase at Boardwalk Pipelines is primarily due to increased revenues due to re-contracting at higher rates, recently completed growth projects and increased storage and parking and lending revenues. The improved results at Lo