LOEWS CORP

The following table summarizes net income (loss) attributable to Loews Corporation by segment and the basic and diluted net income per share attributable to Loews Corporation for the three months ended March 31, 2026 and 2025:

Net income attributable to Loews Corporation for the three months ended March 31, 2026 was $337 million, or $1.63 per share, compared to net income of $370 million, or $1.74 per share in the comparable 2025 period.

The decrease in net income attributable to Loews Corporation for the three months ended March 31, 2026 as compared to the comparable 2025 period was primarily driven by lower net income at CNA and lower results at the parent company, partially offset by higher net income at Loews Hotels & Co and Boardwalk Pipelines. The decrease at CNA is primarily due to lower underlying underwriting results and unfavorable net prior year loss reserve development, partially offset by higher net investment income. Parent company results decreased primarily due to lower investment income from the parent company trading portfolio and higher interest expense. The increase at Loews Hotels & Co is primarily due to higher equity income from joint ventures, driven mainly by the Universal Orlando Resort joint ventures. The increase at Boardwalk Pipelines is primarily due to higher contracting rates and utilization-based revenues on gas transportation, as well as higher rates on storage, parking and lending.