Loews Q3 2026 Profit Falls 39% as CNA Insurance Unit Takes $125M Reserve Charge

Loews Corporation reported third-quarter 2026 earnings with net income of $306 million, down 39% from the same period a year ago, as a large charge at its CNA Financial insurance subsidiary weighed heavily on results. Earnings per share came in at $1.50, down from $2.43 in Q3 2025, though shares jumped on the report, suggesting the result still beat market expectations. Revenue rose 1.9% year over year to $4.76 billion.

The primary drag on earnings was a $125 million after-tax long-term care reserve charge at CNA, which saw its net income fall 51% year over year to $180 million. Boardwalk Pipelines contributed $85 million to net income, down 10% year over year, with that unit absorbing $14 million in after-tax charges tied to the Continuum project and a corporate office relocation. Loews Hotels posted net income of $16 million for the quarter.

Loews returned significant capital to shareholders during the quarter, repurchasing 1.6 million shares for $167 million. Book value per share stood at $90.24, or $100.67 excluding accumulated other comprehensive income.