Loews Q4 2024 Earnings Report

Key Takeaways

Loews Corporation reported Q4 2024 revenue of $4.55 billion and net income of $187 million, reflecting a significant decline from Q4 2023 due to a pension settlement charge at CNA and higher catastrophe losses. Boardwalk Pipelines performed well with increased transportation revenue, while Loews Hotels saw reduced earnings due to increased depreciation and interest expenses.

Total Revenue

$3.34B

Previous year: $4.26B

-21.7%

EPS

$0.86

Previous year: $1.99

-56.8%

CNA Combined Ratio

93.1%

Previous year: 92.1%

+1.1%

CNA Loss Ratio

62.8%

Previous year: 60.6%

+3.6%

Cash and Equivalents

$3.28B

Previous year: $399M

+720.8%

Free Cash Flow

$764M

Previous year: $254M

+200.8%

Total Assets

$81.9B

Previous year: $79.2B

+3.5%

Loews Revenue

Loews EPS

Loews Revenue by Segment

Forward Guidance

Loews Corporation remains focused on long-term value creation through its diversified portfolio. CNA aims to mitigate catastrophe losses, while Boardwalk Pipelines continues to benefit from strong transportation demand. Loews Hotels seeks efficiency improvements to offset higher expenses.

Positive Outlook

Boardwalk Pipelines saw revenue growth driven by higher transportation rates and completed growth projects.
Parent company cash and investments increased to $3.3 billion.
Book value per share excluding AOCI increased year-over-year.
CNA reported higher net investment income despite losses.
Strong dividend contributions from subsidiaries totaling $359 million.

Challenges Ahead

CNA's pension settlement charge significantly impacted net income.
Higher catastrophe losses affected CNA’s underwriting results.
Investment losses weighed on overall financial performance.
Loews Hotels earnings decreased due to higher depreciation and interest expenses.
Net income declined from Q4 2023, reflecting increased costs and adjustments.