Loews Corporation (NYSE:L) on Monday reported fourth-quarter 2025 net income of $402 million, or $1.94 per share, compared to $187 million, or 86 cents per share, in the same period last year.
This growth in earnings can be attributed to the absence of a pension settlement charge that impacted the previous year’s results.
Earnings Snapshot
Total revenue rose to $4.74 billion from $4.55 billion in the year-ago quarter.
As of December 31, 2025, book value per share rose to $90.71 from $79.49 at year-end. Book value excluding AOCI increased to $95.89 from $88.18 as of December 31, 2024.
On December 31, 2025, the parent company had $3.9 billion of cash and investments and $1.8 billion of debt.
Loews repurchased 1.0 million shares for $98 million in the quarter.
CNA Financial Segment Core Income Tanked
CNA Financial Corporation (NYSE:CNA) contributed $276 million in net income attributable to Loews, compared to $19 million a year ago.
Core income decreased to $317 million from $342 million a year ago quarter, owing to an unfavorable charge related to the asbestos and environmental pollution loss portfolio transfer.
Net investment income for CNA increased, led by higher income from fixed-income securities.
Net written premiums grew 2%, while earned premiums increased 5% year over year.
CNA’s Property and Casualty underwriting income rose by 0.7 points on a higher underlying loss ratio.
Loews Hotels
Net income declined to $6 million from $27 million a year ago quarter. Meanwhile, adjusted EBITDA rose 35% Y/Y to $113 million, aided by the addition of three new properties at the Universal Orlando Resort, along with higher average daily rates and occupancy at the other Universal Orlando Resort properties.
Legal Expenses Impacted Boardwalk Results
The company reported a net income of $110 million, compared to $145 million in the same quarter a year ago. EBITDA declined to $287 million from $290 million a year ago quarter.
An increase in legal expenses impacted both net income and EBITDA.
L Price Action: Loews shares were up 1.33% at $112.75 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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