On Monday, Loews Corporation (NYSE:L) announced second-quarter net income of $391 million, or $1.87 per share, marking a 6% increase from $369 million, or $1.67 per share, in the same quarter last year. The diversified holding company’s revenue rose to $4.56 billion for the period.
Following the earnings release, Loews’ shares edged up 1.26% in after-hours trading.
Among Loews’ subsidiaries, Boardwalk Pipelines delivered the strongest performance, with net income soaring 26% to $88 million from $70 million a year earlier. The pipeline business benefited from higher re-contracting rates and recently completed growth projects, driving EBITDA up 14% to $274 million.
The corporate segment swung to a profit of $1 million, a turnaround from a $27 million loss in the prior-year quarter, mainly due to increased investment income from the parent company’s trading portfolio.
These gains helped offset weaker results at CNA Financial, where net income attributable to Loews declined to $274 million from $291 million. The insurance unit faced unfavorable net prior year loss reserve development tied to legacy mass tort abuse reserves and higher investment losses, partially offset by stronger net investment income and improved Property and Casualty underwriting outcomes.
Loews Hotels & Co. saw net income fall to $28 million from $35 million year-over-year, primarily due to lower equity income from joint ventures and increased interest expenses.
During the quarter, Loews repurchased 2.9 million shares of common stock for $251 million. Book value per share rose to $84.42 as of June 30, 2025, up from $79.49 at the end of 2024.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.