Loews Q4 Net Income Jumps to $402M, Revenue Hits $4.74B
Loews posted fourth-quarter net income of $402 million ($1.94 per share) versus $187 million ($0.86) year-earlier, driven by higher revenue of $4.74 billion and absence of last year’s pension settlement charge. Book value per share rose to $90.71, with cash of $3.9 billion against $1.8 billion of debt.
1. Fourth-Quarter Earnings Surge
Loews reported net income of $402 million, or $1.94 per share, for Q4 2025, up from $187 million, or $0.86 per share, a year earlier. Total revenue climbed to $4.74 billion from $4.55 billion, benefiting from the absence of last year’s pension settlement charge.
2. Strengthened Balance Sheet and Buybacks
As of December 31, 2025, Loews held $3.9 billion in cash and investments against $1.8 billion of debt. Book value per share increased to $90.71 (excluding AOCI $95.89), and the company repurchased 1.0 million shares for $98 million during the quarter.
3. Insurance Segment Performance
CNA Financial contributed $276 million in net income to Loews, up from $19 million, while core income dipped to $317 million from $342 million due to an asbestos loss portfolio transfer charge. Net written premiums rose 2% and earned premiums grew 5%, with higher investment income bolstering results.
4. Hospitality and Boardwalk Results
Loews Hotels saw adjusted EBITDA climb 35% to $113 million, aided by three new Universal Orlando Resort properties, though net income fell to $6 million from $27 million. Boardwalk reported net income of $110 million and EBITDA of $287 million, down from $145 million and $290 million, respectively, due to increased legal expenses.