The company said Loews net income attributable to Loews for the 3 months ended June 30, 2024 was $369 million ($1.67 per share), and for the 6 months was $826 million ($3.72 per share). The comparable prior-year figures were $360 million ($1.58 per share) and $735 million ($3.19 per share), respectively.

10-QQuarterly reportFiled Jul 29, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said Loews net income attributable to Loews for the 3 months ended June 30, 2024 was $369 million ($1.67 per share), and for the 6 months was $826 million ($3.72 per share). The comparable prior-year figures were $360 million ($1.58 per share) and $735 million ($3.19 per share), respectively.
CNA's net income attributable to Loews rose $36 million for the 3 months and $78 million for the 6 months, the company said, citing higher net investment income as the factor. Results for the 6 months also included favorable net prior year loss reserve development, which was partially offset by higher catastrophe losses.
The company said the increase in Loews net income attributable to Loews for the 3 months came from higher net income at CNA and Boardwalk Pipelines. It cited higher revenues from re-contracting at higher rates and recently completed growth projects as the drivers of the increase at Boardwalk Pipelines.
The company said it received $815 million in cash dividends from its subsidiaries during the first half, including a special cash dividend of $497 million from CNA. Parent Company cash and investments, net of receivables and payables, totaled $3.1 billion as of June 30, 2024, and it repurchased 2.8 million shares of its common stock for $212 million through July 26.

Key figures

Quarter ended June 30, 2024

Revenue: $711M
Net income: $369M
EPS: $1.67

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 and First-Half Net Income

The company said Loews net income attributable to Loews for the 3 months ended June 30, 2024 was $369 million ($1.67 per share), and for the 6 months was $826 million ($3.72 per share). The comparable prior-year figures were $360 million ($1.58 per share) and $735 million ($3.19 per share), respectively.

Source · Based on the MD&A text of the filing

Factors Behind Changes in CNA Net Income

CNA's net income attributable to Loews rose $36 million for the 3 months and $78 million for the 6 months, the company said, citing higher net investment income as the factor. Results for the 6 months also included favorable net prior year loss reserve development, which was partially offset by higher catastrophe losses.

Source · Based on the MD&A text of the filing

Factors Behind the Increase at Boardwalk Pipelines

The company said the increase in Loews net income attributable to Loews for the 3 months came from higher net income at CNA and Boardwalk Pipelines. It cited higher revenues from re-contracting at higher rates and recently completed growth projects as the drivers of the increase at Boardwalk Pipelines.

Source · Based on the MD&A text of the filing

Parent Company Cash and Share Repurchases

The company said it received $815 million in cash dividends from its subsidiaries during the first half, including a special cash dividend of $497 million from CNA. Parent Company cash and investments, net of receivables and payables, totaled $3.1 billion as of June 30, 2024, and it repurchased 2.8 million shares of its common stock for $212 million through July 26.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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