10-Q · August 3, 2026
Loews delivered stronger Q2 results, with revenue of $4.734 billion, net income attributable to Loews of $444 million and EPS of $2.16, up 3.9%, 13.6% and 15.5%, respectively, from the prior-year quarter. Hotels and…
Earnings analysis · 10-Q
L earnings analysis
Filed November 2, 2026 · Our reading of the company's report
The latest report
Loews reported third-quarter revenue of $4.759 billion, up 1.9% year over year and modestly above $4.73 billion in the prior quarter, but diluted EPS fell to $1.50 from $2.43 a year earlier. Net income declined to $306…
Read full summary
Loews reported third-quarter revenue of $4.759 billion, up 1.9% year over year and modestly above $4.73 billion in the prior quarter, but diluted EPS fell to $1.50 from $2.43 a year earlier. Net income declined to $306 million from $504 million, primarily reflecting CNA’s $125 million long-term-care reserve charge and weaker underwriting. Hotels improved materially and Boardwalk grew excluding charges, while the 10-Q provided no quantitative consolidated guidance and reported no material risk-factor changes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.5
What stood out
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Revenue grew modestly
Third-quarter revenue increased to $4.759 billion from $4.671 billion a year earlier, a $88 million or approximately 1.9% increase, and rose from $4.73 billion in the prior quarter.
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Hotels and Boardwalk improved
Hotels delivered a strong operating improvement, while Boardwalk grew excluding special charges; the filing discussion does not provide segment revenue amounts in the supplied text.
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Share repurchases continued
Loews repurchased 1,576,380 shares in September 2026 at an average price of $106.16 per share.
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Controls remained effective
Management concluded that disclosure controls were effective as of September 30, 2026, and reported no changes in internal control that materially affected or were reasonably likely to materially affect reporting.
What to watch
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Sharp EPS deterioration
Diluted EPS declined to $1.50 from $2.43 a year earlier, a decrease of $0.93 or approximately 38%, and from $2.16 in the prior quarter.
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Net income declined materially
Consolidated net income fell to $306 million from $504 million a year earlier, a decline of $198 million or approximately 39%.
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CNA reserve charge
CNA recorded a $125 million long-term-care reserve charge, which was identified as a primary driver of the year-over-year earnings decline.
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No new risk-factor disclosure
The 10-Q states there were no material changes to the risk factors included in the December 31, 2025 Form 10-K as of September 30, 2026; therefore, existing risks remain applicable.
Management's outlook
The 10-Q provides no quantitative consolidated revenue or EPS guidance; the prior 8-K likewise stated no consolidated forward guidance.
Earlier filings 4
10-Q · May 4, 2026
Loews Corporation's Q1 2026 results indicate a revenue increase but a slight decline in EPS compared to the previous year. Revenue reached $4.555 billion, exceeding estimates by $61 million, while EPS came in at $1.63,…
10-Q · November 3, 2025
Loews reported Q3 revenue of $4,671 million, up $205 million (+4.6%) versus the prior-year quarter, and diluted EPS of $2.43, up $0.61 from $1.82. Income before income taxes increased to $689 million (from $550 million)…
10-Q · August 4, 2025
Loews reported quarter revenue of $4,555 million, up $288 million (+6.7%) versus Q2 2024, with diluted EPS rising to $1.87 from $1.67. Insurance premiums and net investment income were key drivers; operating cash flow…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.