Loews Corporation (NYSE:L) posted higher second-quarter earnings on Monday, supported by improved contributions from its insurance, pipeline and hospitality businesses, although the stock showed little reaction in pre-market trading.
Shares of the diversified holding company were up 0.62% before the opening bell following the earnings announcement.
Net Income and Revenue Increase Year Over Year
Loews reported net income of $444 million, or $2.16 per share, for the second quarter, compared with $391 million, or $1.87 per share, in the same period last year.
Quarterly revenue rose to $4.73 billion from $4.56 billion a year earlier, reflecting stronger operating performance across several of the group’s core businesses.
CNA Delivers Higher Earnings Despite Underwriting Pressure
The company’s largest subsidiary, CNA Financial, generated net income attributable to Loews of $294 million, up from $274 million in the prior-year quarter.
The improvement was driven primarily by stronger net investment income and lower investment losses, although weaker underlying underwriting performance partially offset those gains.
Within CNA’s Property & Casualty business, the combined ratio increased to 96.5%, up 2.4 percentage points from a year earlier. The underlying loss ratio also rose to 64.1% from 61.5%, reflecting higher claims cost trends and lower-than-expected pricing in certain insurance lines.
Boardwalk and Hotels Produce Strong Results
Boardwalk Pipelines reported net income of $100 million during the quarter, improving from $88 million a year earlier.
The increase was supported by stronger contract pricing for natural gas transportation services and higher product sales.
Loews Hotels also delivered a strong performance, with net income climbing 71% to $48 million from $28 million in the prior-year period.
The hotel business benefited from higher average daily room rates and increased occupancy across much of its portfolio, particularly at properties within Universal Orlando Resort and the Miami Beach Hotel following its renovation.
Book Value Advances as Share Buybacks Continue
Book value per share increased to $93.52 as of June 30, 2026, compared with $90.71 at the end of 2025.
During the quarter, Loews repurchased approximately 1.4 million shares for a total of $146 million.
At the end of the reporting period, the parent company held $4.4 billion in cash and investments, while total debt stood at $1.8 billion, providing substantial financial flexibility.
Loews Corporation stock price
