Loews Corporation reports year-over-year drop in profit

Shares of the conglomerate, which has concern interests successful insurance, energy, hospitality and packaging, fell astir 4% pursuing the results.

For the 4th ended March 31, 2026, the institution reported nett income of $337 million, oregon $1.63 per diluted share, compared with $370 million, oregon $1.74 per share, successful the aforesaid play a twelvemonth earlier.

Revenue roseate somewhat to $4.56 cardinal from $4.49 billion.

The institution said the diminution successful net was chiefly driven by CNA Financial Corporation, wherever results were pressured by little underlying underwriting show and unfavorable prior-year reserve development, partially offset by higher nett concern income.

Boardwalk Pipelines reported higher nett income year-over-year, supported by stronger contracting rates and accrued utilization-based gross successful state transportation, on with improved pricing successful storage, parking and lending services.

Loews Hotels besides posted an summation successful nett income, reflecting higher equity income from associated ventures, peculiarly tied to the Universal Orlando Resort partnerships.

These gains were partially offset by weaker firm conception results, which reflected little concern income from the genitor company’s trading portfolio arsenic good arsenic higher involvement expenses.

Book worth per stock roseate somewhat to $90.90 arsenic of March 31, 2026, compared with $90.71 astatine the extremity of 2025. Book worth per stock excluding accumulated different broad income accrued to $97.20 from $95.89 implicit the aforesaid period.

Loews reported $4.5 cardinal successful currency and investments astatine the genitor institution level, alongside $1.8 cardinal successful indebtedness arsenic of quarter-end.

The institution besides repurchased 0.3 cardinal shares during the 4th for $31 million.