Loews Corporation (L) Q4 2025 earnings summary

Executive summary

• Q4 2025 net income was $402 million ($1.94 per share), up from $187 million ($0.86 per share) in Q4 2024; full-year net income rose to $1.67 billion ($7.97 per share) from $1.41 billion ($6.41 per share) year-over-year.

• Revenues for Q4 2025 were $4.73 billion, up from $4.55 billion in Q4 2024; full-year revenues increased to $18.45 billion from $17.51 billion year-over-year.

• Book value per share increased to $90.71 at year-end 2025 from $79.49 at year-end 2024; excluding AOCI, book value per share rose to $95.89 from $88.18.

• 8.9 million shares repurchased in 2025 for $782 million, including 1.0 million shares for $98 million in Q4; total shares outstanding reduced to 206 million at year-end.

• Dividends from subsidiaries totaled $389 million in Q4 2025; parent company cash and investments reached $3.9 billion at year-end.

Financial highlights

• Q4 2025 net income: $402 million; Q4 2024: $187 million.

• Q4 2025 revenues: $4.73 billion; Q4 2024: $4.55 billion.

• Full-year 2025 net income: $1.67 billion; 2024: $1.41 billion.

• Full-year 2025 revenues: $18.45 billion; 2024: $17.51 billion.

• Book value per share (ex. AOCI) at year-end 2025: $95.89; 2024: $88.18.

Outlook and guidance

• No formal guidance provided; management may continue share repurchases depending on market conditions and emphasizes prudent capital allocation and strong liquidity.

• Forward-looking statements are subject to risks and uncertainties as detailed in SEC filings.