Company: L
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000060086-25-000166
Chunk: 147

Company: LOEWS CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 147
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 subsidiaries over our claims and those of our creditors and 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 six months ended June 30, 2025 and 2024:

Three Months EndedSix Months EndedJune 30,June 30,2025202420252024(In millions, except per share data)     CNA Financial$274 $291 $526 $601 Boardwalk Pipelines88 70 240 191 Loews Hotels & Co28 35 28 51 Corporate1 (27)(33)(17)Net income attributable to Loews Corporation$391 $369 $761 $826    Basic and diluted net income per share$1.87 $1.67 $3.61 $3.72    

Net income attributable to Loews Corporation for the three months ended June 30, 2025 was $391 million, or $1.87 per share, compared to net income of $369 million, or $1.67 per share in the comparable 2024 period. Net income attributable to Loews Corporation for the six months ended June 30, 2025 was $761 million, or $3.61 per share, compared to net income of $826 million, or $3.72 per share in the comparable 2024 period. 

The increase in net income attributable to Loews Corporation for the three months ended June 30, 2025 as compared to the comparable 2024 period was primarily driven by higher net income at Boardwalk Pipelines and higher investment income at the parent company, partially offset by lower net income at CNA and Loews Hotels & Co. The increase at Boardwalk Pipelines is primarily due to increased revenues due to re-contracting at higher rates and recently completed growth projects. Parent company investment income improved due to higher investment income from the parent company trading portfolio. The decrease at CNA is due to unfavorable net prior year loss reserve development related to legacy mass tort abuse reserves and higher investment losses, partially offset by higher net investment income and improved  underwriting results in CNA’s commercial property and casualty insurance operations. The decrease at Loews Hotels & Co