Berkshire Hathaway more than doubles buybacks as third-quarter profit falls 28%
Operating earnings dropped 5.8% as insurance results weakened, while the company's cash pile grew to $377.4 billion.
Berkshire Hathaway, led by CEO Greg Abel, said it bought back $9.6 billion of its own stock in the third quarter. That is more than double the $4.5 billion repurchased in the second quarter, and brings its 2026 total to about $14.4 billion.
Overall profit fell 28% to $22.1 billion from $30.8 billion a year earlier, as investment gains dropped nearly 50%. Operating profit slipped 5.8% to $12.7 billion, with insurance underwriting down 43%. Railroad, energy and manufacturing units grew.
Berkshire's cash holdings rose 3% to $377.4 billion from the prior quarter. Excluding rail and utility cash and T-bill payables, cash totaled $352.3 billion, down 1.9%. Berkshire's Class A shares have gained 13% so far this year, while the S&P 500 is up 7.8%.
Key points
- Buybacks reached $9.6 billion in the third quarter, up from $4.5 billion in the second.
- Overall profit fell 28% to $22.1 billion; operating profit fell 5.8% to $12.7 billion.
- Cash holdings rose to $377.4 billion; Class A shares are up 13% this year.
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Summarized with AI from the sources above and reviewed before publishing.
