Business
LOEWS CORPORATION REPORTS NET INCOME OF $391 MILLION FOR THE SECOND QUARTER OF 2025
Loews Corporation (NYSE: L) today released its second quarter 2025 financial results.
About this update from Loews Corporation
[{"type":"text","content":"NEW YORK, Aug. 4, 2025 /PRNewswire/ -- Loews Corporation (NYSE: L) today released its second quarter 2025 financial results.","length":124,"tagName":"p"},{"type":"text","content":"Second Quarter 2025 highlights:Loews Corporation reported net income of $391 million, or $1.87 per share, in the second quarter of 2025, compared to $369 million, or $1.67 per share, in the second quarter of 2024. The following are key highlights of our second quarter results:","length":278,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"CNA Financial Corporation's (NYSE: CNA) net income attributable to Loews decreased year-over-year. Unfavorable net prior year loss reserve development related to legacy mass tort abuse reserves and higher investment losses were partially offset by higher net investment income and improved Property and Casualty underwriting results.","length":337,"tagName":"p"}]},{"val":[{"type":"text","content":"Boardwalk Pipelines' net income improved year-over-year due to higher re-contracting rates and recently completed growth projects.","length":134,"tagName":"p"}]},{"val":[{"type":"text","content":"Loews Hotels' second quarter 2025 net income decreased year-over-year primarily due to lower equity income from joint ventures, mainly driven by an increase in expenses related to three new hotels at the Universal Orlando Resort which opened in 2025, and higher interest expense.","length":283,"tagName":"p"}]},{"val":[{"type":"text","content":"Corporate segment improved year-over-year due to higher investment income from the parent company trading portfolio.","length":116,"tagName":"p"}]},{"val":[{"type":"text","content":"Book value per share increased to $84.42 as of June 30, 2025, from $79.49 as of December 31, 2024.","length":98,"tagName":"p"}]},{"val":[{"type":"text","content":"Book value per share, excluding AOCI, increased to $91.66 as of June 30, 2025, from $88.18 as of December 31, 2024 primarily due to positive operating results in 2025.","length":167,"tagName":"p"}]},{"val":[{"type":"text","content":"On June 30, 2025, the parent company had $3.4 billion of cash and investments and $1.8 billion of debt.","length":103,"tagName":"p"}]},{"val":[{"type":"text","content":"Loews Corporation repurchased 2.9 million shares of its common stock during the second quarter of 2025 for a total cost of $25...