Berkshire Hathaway reported a decrease in operating earnings for the third quarter of 2026, totaling $12.7 billion compared to $13.5 billion in the prior year. The decline was primarily driven by a 43% drop in insurance underwriting income, which fell to $1.35 billion. Despite the dip in insurance performance, the company saw growth in its railroad (BNSF) and energy segments, while aggressively ramping up share repurchases during the period.
Key Highlights
- Operating earnings declined roughly 6% year-over-year to $12.7 billion, impacted by lower insurance underwriting and investment income.
- Share repurchases accelerated sharply, with $9.6 billion in treasury shares acquired during the third quarter, bringing the nine-month total to $14.4 billion.
- Insurance underwriting earnings fell significantly to $1.35 billion from $2.37 billion in the third quarter of 2025.
- BNSF railroad performance improved, with segment earnings rising 19% year-over-year to $1.73 billion.