Prnewswire·2025-08-04 10:00Core Insights - Loews Corporation reported a net income of $391 million, or $1.87 per share, for Q2 2025, an increase from $369 million, or $1.67 per share, in Q2 2024 [2][4][19] - The company’s total revenues for Q2 2025 were $4.555 billion, compared to $4.267 billion in Q2 2024, reflecting a year-over-year growth [16][18] - The book value per share increased to $84.42 as of June 30, 2025, from $79.49 at the end of 2024 [4][19] Consolidated Highlights - Net income attributable to Loews Corporation for the first half of 2025 was $761 million, or $3.61 per share, down from $826 million, or $3.72 per share, in the same period of 2024 [2][7] - The company repurchased 2.9 million shares of its common stock for a total cost of $251 million during Q2 2025 [4][15] - As of June 30, 2025, Loews Corporation had $3.4 billion in cash and investments and $1.8 billion in debt [4] Segment Performance CNA Financial - Net income attributable to Loews from CNA decreased to $274 million in Q2 2025 from $291 million in Q2 2024 [5][24] - Core income for CNA increased by 3% to $335 million compared to $326 million in the previous year [5][21] - Net written premiums grew by 6%, while net earned premiums increased by 8% [5] Boardwalk Pipelines - Boardwalk Pipelines reported a net income of $88 million in Q2 2025, up from $70 million in Q2 2024, driven by higher re-contracting rates and growth projects [4][24] - EBITDA for Boardwalk increased by 14% to $274 million compared to $240 million in the previous year [8][24] Loews Hotels - Loews Hotels reported a net income of $28 million in Q2 2025, down from $35 million in Q2 2024, primarily due to increased expenses related to new hotel openings [4][26] - Adjusted EBITDA for Loews Hotels increased by 11% to $109 million compared to $98 million in the previous year [8][26] Financial Ratios - The Property and Casualty combined ratio improved to 94.1% in Q2 2025 from 94.8% in Q2 2024, largely due to lower catastrophe losses [8][23] - The underlying combined ratio remained stable at 91.7% compared to 91.6% in the previous year [8][23]