Key Highlights

  • Shareholder Net Income reached $306 million for the 2026 third quarter, lower than the $504 million earned a year earlier.
  • Each share produced $1.50 of net income, versus $2.43 during the same quarter a year before.
  • Revenue totaled $4,759 million, edging up from $4,671 million a year earlier.
  • Insurance operations delivered $180 million, down from $371 million, after a $125 million after-tax hit from long-term care reserve revisions.
  • At the Holding Company level, net cash and investments reached $4.4 billion on Sep 30, 2026, compared with $3.9 billion at the prior year-end.

Long-Term Care Reserve Revision Pulls Net Income Down to $306 Million

Loews (NYSE:L) recorded Shareholder net income of $306 million ($1.50 a share) for the quarter ended Sep 30, 2026, against $504 million ($2.43) during the matching 2025 period. Top-line Revenue crept up 1.9%, reaching $4,759 million. The report itself is dated Nov 2, 2026.

Nine-month figures show $1,087 million of net income, which is $5.29 per share, against $1,265 million at $6.03 a share. Diluted shares averaged 204.57 million during the quarter, compared with 207.71 million previously.

The holding company operates in commercial property and casualty insurance, pipelines carrying Natural Gas and liquids, and lodging. A packaging Business is also part of its Equity holdings.

Catastrophe Losses and Weaker Underwriting Nearly Halve the Insurance Unit's Contribution

Loews' insurer, which it owns at roughly 92%, produced $180 million for the parent, versus $371 million before. Roughly $125 million, measured after tax and after noncontrolling interests, came from the yearly revisions to long-term care reserve assumptions. Beyond that, underwriting weakened on an underlying basis and catastrophe losses grew.

Core income from property and casualty operations came in at $397 million, against $456 million. The combined ratio moved to 97.0% from 92.8% the prior year, while the underlying figure rose to 94.2% from 91.3%.

Catastrophe losses reached $78 million, up from $41 million; the underlying underwriting gain went from $235 million to $160 million. Commercial lines, the biggest segment, produced a 99.7% combined ratio, with excess casualty and workers' compensation loss ratios climbing.

Hotel Unit Swings Back to Profit as Pipeline Income Slips to $85 Million

The hotel division posted $16 million of profit, reversing a $3 million loss from the prior year. Lodging revenue went up, reaching $241 million against $202 million, a 19.3% rise (calculated), as average room rates increased, occupied nights grew, a Miami Beach hotel reopened, and World Cup Demand lifted its Arlington properties. Joint venture equity income dropped by $8 million.

Boardwalk Pipelines generated $85 million, down from $94 million, because $14 million after tax in charges, linked with unrealized losses at a Marketing unit and to an office move impairment, outweighed stronger gas transportation income. Transportation and storage revenue for pipelines reached $602 million, compared with $530 million. Corporate results came to $25 million, off from $42 million, owing to reduced income from trading portfolios.

Parent-Level Cash Climbs to $4.4 Billion After $334 Million in Share Repurchases

Holding-company cash and investments, after netting receivables and payables, reached $4.4 billion, up from $3.9 billion on Dec 31, 2025. Over nine months, subsidiaries sent Loews $1.1 billion in dividends and distributions, among them a $497 million special payout from the insurance unit. Treasury stock purchases absorbed $334 million, and dividends took $39 million. Outstanding shares stood at 202.2 million on Oct 30, 2026, and the next checkpoint is the year-end release covering full 2026 results.