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L · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Loews Corporation (L) stock moving?
Loews' Q3 2026 report on Nov 2 was weak at the headline level: EPS fell to $1.50 from $2.43 and net income dropped to $306 million from $504 million, mainly because of a $125 million CNA reserve charge. Sales rose modestly to $4.759 billion from $4.671 billion. Loews Hotels was a bright spot with adjusted EBITDA of $86 million, up 25%, while Boardwalk Pipelines' EBITDA slipped to $262 million from $267 million on Continuum losses and an office impairment. Capital returns continue: $167 million of Q3 buybacks, $67 million more in October, and a $0.0625 quarterly dividend declared on Nov 10. The parent holds $4.4 billion of cash and investments against $1.8 billion of debt, which gives balance-sheet flexibility. Price action has been soft since results: the stock closed at 110.93 on Nov 10, about 2.4% below the 113.68 close on Oct 22. It traded in a 107.39 to 114.52 range over the period. Volume jumped to 860,000-936,000 shares on Nov 2-5, versus roughly 510,000-590,000 in late October, and the Nov 5 spike to 114.52 faded to a 111.13 close. The Nov 6 drop to 109.71 came on 758,000 shares. Volume has eased to about 740,000-790,000 in the last few sessions, and the stock has bounced slightly from 109.94 to 110.93. Overall the news is mixed: insurance weakness and pipeline headwinds against hotel growth, buybacks and a strong net cash position.
News behind the analysis
- Loews Corporation Declares Quarterly DividendLoews declared a quarterly dividend of $0.0625 per share of common stock.
- Loews Corporation Reports Third Quarter 2026 Financial ResultsLoews reported Q3 2026 net income of $306 million and share repurchases of $167 million.
- Loews Q3 Results: CNA Weakness, Hotel Growth and Pipeline HeadwindsQ3 EPS fell to $1.50 from $2.43 as CNA weakness and a $125 million reserve charge offset growth at Loews Hotels. Boardwalk Pipelines faced headwinds.
- Loews Q3 EPS $1.50 Down From $2.43 YoY, Sales $4.759B Up From $4.671B YoYQuarterly sales rose to $4.759 billion from $4.671 billion a year earlier, while EPS declined to $1.50 from $2.43.
- Loews Q3 Net Income $306M vs $504M Y/Y; CNA Care Reserve Charge Costs $125MNet income fell to $306 million from $504 million, with a $125 million CNA care reserve charge weighing on results.
- Loews Bought Back 1.6M Shares For $167M In Q3, Another 0.6M For $67M In OctoberLoews repurchased 1.6 million shares for $167 million in Q3 and another 0.6 million shares for $67 million in October.
- Loews Parent Holds $4.4B Cash & Investments vs $1.8B DebtThe parent company held $4.4 billion in cash and investments against $1.8 billion of debt at quarter end.
- Loews Hotels Q3 Adj. EBITDA $86M, Up 25% Y/YLoews Hotels posted third-quarter adjusted EBITDA of $86 million, up 25% from a year earlier.
- Boardwalk Pipelines Q3 EBITDA $262M vs $267M; Hit By Continuum Losses, Office ImpairmentBoardwalk Pipelines' Q3 EBITDA slipped to $262 million from $267 million, hurt by Continuum losses and an office impairment.
About Loews Corporation
Loews Corporation is a New York–based holding company controlled by the Tisch family. It owns businesses in insurance, energy, hospitality and packaging. Its biggest piece is a majority stake (roughly 90%) in the commercial insurer CNA Financial, and it is known for steadily buying back its own shares.
How it makes money
Most of its revenue and profit comes through CNA Financial (NYSE: CNA), which earns insurance premiums and investment income from commercial property and casualty insurance. Other sources are Boardwalk Pipelines, which charges fees to move and store natural gas; Loews Hotels & Co, which earns from hotel rooms and joint ventures; Altium Packaging, which makes plastic containers; and investment income from the parent company's own portfolio. Total revenue is roughly $4.8 billion a quarter.
What usually moves L
- CNA's underwriting results and catastrophe losses
- Interest rates and investment income
- Long-term-care insurance reserve charges
- Natural gas pipeline demand and contract rates
- Hotel occupancy and room rates, plus share buybacks