LOEWS CORP (L) Form 8-K — Nov 2, 2026
Loews Corporation reported Q3 2026 net income of $306 million, or $1.50 per share, down from $504 million, or $2.43 per share, a year earlier. The decline was driven by a $125 million after-tax charge from CNA's annual long-term care reserve review ($173 million pre-tax), plus weaker P&C underwriting (combined ratio 97.0% vs 92.8%) and lower parent investment income. Management contends the economic impact of the reserve charge is near breakeven, as CNA's $1.3 billion of duration-extension trades locking in 6.2% yields on A-rated bonds should offset higher expected claims over time.
Key figures
- Eps
- 1.5
- Revenue
- 4759000000
- Net Income
- 306000000
- Total Debt
- 1800000000
- Revenue Yoy
- Q3 revenue $4,759M vs $4,671M (+1.9%)
- Cash Position
- 4400000000
- Shares Outstanding
- 202900000
- Q3 buybacks
- 1.6 million shares for $167 million
- Boardwalk ebitda
- $262M vs $267M
- Cna contribution
- $180M vs $371M prior year
- Prior year q3 eps
- 2.43
- Boardwalk net income
- $85M vs $94M
- Book value per share
- 90.24
- Nine month net income
- $1,087M ($5.29/share) vs $1,265M ($6.03/share)
- Cna p c combined ratio
- 97.0% vs 92.8%
- Loews hotels net income
- $16M vs -$3M
- Ytd buybacks since 2025
- 3.9 million shares for $412 million
- Boardwalk backlog growth
- almost $600 million
- Prior year q3 net income
- 504000000
- Boardwalk project backlog
- $3.6 billion
- Book value per share ex aoci
- 100.67
- Loews hotels adjusted ebitda
- $86M vs $69M (+25%)
- Cna p c underlying loss ratio
- 64.1% vs 61.9%
- Cna ltcare reserve increase pretax
- 173000000
- Cna ltcare reserve charge after tax
- 125000000
AI analysis
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