Loews Q3 2020 Earnings Report

Loews reported a net income of $139 million for Q3 2020, driven by CNA Financial Corporation's strong performance.

Key Takeaways

Loews Corporation reported a net income of $139 million, or $0.50 per share, for the third quarter of 2020, compared to a net income of $72 million, or $0.24 per share, in the third quarter of 2019. CNA Financial Corporation drove the quarterly increase in net income with an improved underlying combined ratio and higher net investment income. Loews Hotels & Co posted a quarterly net loss due to the revenue impact of the COVID-19 pandemic, and Boardwalk Pipelines’ net income also declined year-over-year.

Loews Corporation reported net income of $139 million for Q3 2020, an increase from $72 million in Q3 2019.

CNA Financial Corporation drove the quarterly increase in net income due to improved underwriting income and investment gains.

Loews Hotels & Co experienced a net loss due to the COVID-19 pandemic, but revenues rose significantly from Q2 to Q3.

Boardwalk Pipelines' net income declined due to lower net operating revenues and increased expenses.

Total Revenue

$3.47B

Previous year: $3.68B