Prnewswireยท2025-05-05 10:00Financial Performance - Loews Corporation reported net income of $370 million, or $1.74 per share, in Q1 2025, down from $457 million, or $2.05 per share, in Q1 2024 [2][14] - Total revenues increased to $4.494 billion in Q1 2025 from $4.231 billion in Q1 2024, driven by higher insurance premiums and operating revenues [14][16] - Book value per share increased to $89.74 as of March 31, 2025, from $88.18 as of December 31, 2024 [4] Segment Performance - CNA Financial's net income attributable to Loews decreased to $252 million in Q1 2025 from $310 million in Q1 2024, primarily due to lower underwriting income [4][5] - Boardwalk Pipelines reported improved results with net income increasing to $152 million in Q1 2025 from $121 million in Q1 2024, attributed to higher re-contracting rates and growth projects [4][10] - Loews Hotels & Co experienced a decline in net income to $0 million in Q1 2025 from $16 million in Q1 2024, mainly due to lower equity income from joint ventures [10][24] Share Repurchase - The company repurchased 5.1 million shares of its common stock for a total cost of $429 million since December 31, 2024 [1][4] - During Q1 2025, Loews Corporation repurchased 4.5 million shares for $376 million, with an additional 0.6 million shares repurchased for $53 million between April 1, 2025, and May 2, 2025 [10][4] Investment and Debt Position - As of March 31, 2025, the parent company had $3.5 billion in cash and investments and $1.8 billion in debt [4] - Net investment income decreased year-over-year due to unfavorable changes in the fair value of equity-based investments [4][10]