Loews Corporation (NYSE:L) shares fell sharply on Monday after the company reported its first-quarter 2026 results, with weakness in its insurance segment weighing on performance.

Earnings Snapshot

Net income of $337 million, or $1.63 per share, compared to $370 million, or $1.74 per share, in the same period last year.

CNA Financial Corporation's (NYSE:CNA) net income attributable to Loews Corporation decreased year-over-year primarily due to lower underlying underwriting results and unfavorable net prior year loss reserve development, partially offset by higher net investment income.

Earnings Snapshot

Total revenue rose to $4.555 billion from $4.494 billion in the year-ago quarter.

As of March 31, book value per share rose to $90.90 from $90.71 at year-end. Book value excluding AOCI increased to $97.20 from $95.89 as of December 31, 2025.

On March 31, the parent company had $4.5 billion of cash and investments and $1.8 billion of debt.

Loews repurchased 0.3 million shares for $31 million in the quarter.

CNA Financial Segment Core Income Tanked

CNA Financial contributed $194 million in net income attributable to Loews, compared to $252 million a year ago.

Core income declined to $225 million from $281 million a year ago quarter, primarily due to weaker underwriting performance and adverse prior-year reserve development.

Net investment income rose, supported by higher returns from fixed-income securities driven by a larger invested asset base and improved reinvestment yields.

Net earned premiums increased 3%, while net written premiums rose 1%.

Loews Hotels Stood Strong

Net income rose to $26 million from less than $1 million previously, while adjusted EBITDA increased 53% to $124 million in the quarter.

The improvement was mainly driven by higher equity income from joint ventures. It is supported by stronger average daily rates and growth in both available and occupied room nights at Universal Orlando Resort, including contributions from three new hotels opened in 2025.

Boardwalk Results Improved

Net income rose to $159 million from $152 million a year ago quarter. EBITDA increased to $360 million from $346 million in the prior year quarter.

The improvement was driven by stronger contracting rates and higher utilization-based gas transportation revenues, along with improved pricing in storage, parking, and lending services.

L Price Action: Loews shares were down 7.05% at $103.82 at the time of publication on Monday, according to Benzinga Pro data.

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