Quick Summary
- Q1 operating profit reached $11.35B, reflecting an ~18% annual increase, though falling slightly below the $11.56B consensus forecast
- Cash reserves climbed to an unprecedented $397.4B, advancing from $373B recorded at 2025’s conclusion
- Net earnings surged to $10.1B, more than doubling the $4.6B figure from Q1 2025
- Insurance underwriting profits jumped 28% to $1.7B, despite a 34% decline in Geico’s contribution
- Greg Abel presented his inaugural quarterly results after assuming the CEO position from Warren Buffett in January 2026
Berkshire Hathaway delivered first-quarter 2026 operating profits totaling $11.35 billion, marking an approximately 18% climb compared to the prior-year period. However, the performance came in marginally below Wall Street’s consensus projection of $11.56 billion, according to FactSet analysts.
$BRK.B (Berkshire Hathaway) #earnings are out: pic.twitter.com/7ePyzVswyM
— The Earnings Correspondent (@earnings_guy) May 2, 2026
The conglomerate’s net earnings tallied approximately $10.1 billion during the three-month period — representing more than a twofold increase over the $4.6 billion posted in the first quarter of 2025.
BRK.B shares concluded Friday’s session trading near $487, hovering close to the average buyback price of $486.92 that the company executed throughout the quarter.
Berkshire Hathaway Inc., BRK-B
The standout figure commanding investor focus is the unprecedented cash position. Berkshire’s combined cash holdings, cash equivalents, and short-duration securities reached an all-time high of $397.4 billion by March 31, advancing from $373 billion at the close of 2025.
That represents an enormous war chest awaiting deployment.
Insurance Operations Power Growth
The insurance underwriting segment emerged as the primary catalyst behind the earnings acceleration. This division produced $1.7 billion in profit, climbing 29% versus the year-ago quarter, benefiting significantly from the absence of major catastrophic loss events during the period.
Nevertheless, not every insurance operation flourished. Geico, the company’s flagship auto insurance subsidiary, experienced a 34% earnings contraction. Additionally, insurance investment income retreated 7% to $2.7 billion, pressured by declining interest rates that diminished interest earnings.
BNSF, the conglomerate’s railway operation, delivered $1.4 billion in profit — advancing 13% year-over-year on the strength of increased revenues and improved operational performance.
The manufacturing, service, and retail segments collectively contributed $3.2 billion, representing a 5% annual improvement. Berkshire Hathaway Energy posted $1.1 billion, edging up 2%, supported by natural gas pipeline operations and favorable federal tax incentives.
Abel’s Inaugural Quarter as Chief Executive
This marked Greg Abel’s debut quarterly earnings release as chief executive officer. He assumed the leadership role at the beginning of 2026, taking the reins from Warren Buffett, and authored his first annual shareholder communication in February.
Abel appeared on stage Saturday during Berkshire’s annual shareholder gathering in Omaha — the legendary gathering frequently dubbed “Woodstock for Capitalists.”
Buffett, currently 95 years old, had evolved into somewhat of an iconic figure at the gathering, attracting massive audiences and associating his reputation with portfolio companies including Fruit of the Loom and Squishmallow.
Throughout the first quarter, Berkshire executed $234.2 million in share repurchases — marking its initial buyback program since May 2024. This included acquiring 33 Class A shares at an average cost of $729,701 and 431,462 Class B shares at approximately $486.92 per share.
The holding company also offloaded a net $8.1 billion in equity positions during the three-month span. Berkshire’s top five equity investments — Apple, American Express, Bank of America, Coca-Cola, and Chevron — represented 61% of its aggregate equity holdings as of March 31, declining from 65% at 2025’s year-end.
Berkshire’s first-quarter 2025 operating earnings had registered $9.6 billion, while Q4 2025 witnessed a substantial 30% year-over-year contraction to $10.2 billion, making the Q1 2026 performance a significant turnaround propelled primarily by insurance segment strength.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
