LOEWS CORP (L) Form 10-Q — Nov 2, 2026
Loews Corporation reported Q3 2026 net income attributable of $306 million, or $1.50 per share, down from $504 million ($2.43 per share) a year earlier, with nine-month net income of $1,087 million ($5.29/share) versus $1,265 million ($6.03/share). The decline was driven primarily by a $125 million after-tax charge from CNA's annual long-term care reserve assumption update, which raised pretax LTC reserves by $173 million due to unfavorable cost-of-care inflation and morbidity trends. CNA's underwriting also weakened, with its Q3 combined ratio rising to 97.0% from 92.8% on higher catastrophe losses ($78M vs $41M) and adverse development in Commercial.
Key figures
- Eps
- 5.29
- Revenue
- 14048000000
- Net Income
- 1087000000
- Revenue Yoy
- 2.4% (9M: $14,048M vs $13,720M)
- Total Assets
- 85328000000
- Cash Position
- 505000000
- Shares Outstanding
- 202225230
- Q3 eps
- 1.5
- Q3 revenue
- $4,759M vs $4,671M prior year
- Cds index notional
- $4.3B
- Boardwalk 9m ebitda
- $901M vs $887M
- Boardwalk q3 ebitda
- $262M vs $267M
- Statutory ltc margin
- $1.3B
- Cna q3 combined ratio
- 97.0% vs 92.8%
- Debt issuance feb 2026
- $500M 4.9% senior notes due 2036
- Performance obligations
- $24.0B
- Growth projects pipeline
- $3.6B aggregate cost, 4.7 Bcf/d capacity
- Cna q3 catastrophe losses
- $78M vs $41M
- Ltc reserve charge pretax
- $173M
- Q3 net income attributable
- $306M vs $504M prior year
- Spire marketing acquisition
- $206M
- Treasury stock purchases 9m
- $334M
- Ltc reserve impact after tax
- $125M
AI analysis
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