Loews Corporation Reports Q1 2025 Financial Results with $370 Million Net Income

Loews Corporation reported its financial results for the first quarter of 2025, revealing a net income attributable to the company of $370 million, or $1.74 per share, a decrease from $457 million, or $2.05 per share, in the same period last year. The decline in profitability was primarily attributed to lower net income from its subsidiaries, particularly CNA Financial and Loews Hotels & Co, alongside reduced investment income at the parent company. CNA's underwriting income was adversely affected by unfavorable prior year loss reserve developments, while Loews Hotels experienced decreased equity income from joint ventures due to lower occupancy rates and an impairment charge.

Total revenues for the quarter reached $3.5 billion, compared to $3.3 billion in the prior year, driven by increased revenues at Boardwalk Pipelines, which benefited from re-contracting at higher rates and growth projects. CNA's revenues were impacted by lower net investment income and increased claims costs, including catastrophe losses of $97 million, primarily due to severe weather events. The company’s total assets increased to $83.1 billion as of March 31, 2025, up from $81.9 billion at the end of 2024, reflecting growth in investments and receivables.

In terms of operational metrics, Loews Corporation's employee headcount remained stable, and the company continued to focus on strategic initiatives, including the expansion of its hotel operations and pipeline services. The company repurchased 4.5 million shares of its common stock for $380 million during the quarter, reflecting its commitment to returning value to shareholders. As of May 2, 2025, there were 209.7 million shares of common stock outstanding.

Looking ahead, Loews Corporation expressed cautious optimism regarding its future performance, emphasizing the importance of its diversified business model. The company anticipates that ongoing investments in its subsidiaries, particularly in the insurance and hospitality sectors, will support growth. However, management acknowledged potential challenges, including market volatility and regulatory changes that could impact operations. The company remains focused on maintaining strong liquidity and capital resources to navigate these uncertainties effectively.