Berkshire Hathaway stock buybacks jump as insurance earnings slide

Published on 11/11/2026 at 12:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berkshire Hathaway stock repurchases reached 9.6 billion US dollars in the third quarter. Operating earnings fell 5.8% as insurance underwriting weakened.

Insurance weakness meets stronger buybacks

Operating earnings declined as insurance underwriting and investment income weakened.
Railroad, energy and manufacturing operations delivered year-on-year profit growth.
Cash and short-term Treasury holdings reached 377.435 billion US dollars at quarter-end.

Berkshire Hathaway, US0846707026, Illustration mit AI erstellt.

Berkshire Hathaway accelerated share repurchases in the third quarter while weaker insurance results pulled down operating profit. The figures were reported on Saturday, November 7, for the period ended September 30, in a CNBC report.

Buybacks rise as insurance weighs

Berkshire repurchased 9.6 billion US dollars of its own stock between July and September, more than twice the 4.5 billion US dollars bought in the second quarter. The nine-month total reached about 14.4 billion US dollars, indicating that chief executive Greg Abel is using more of the conglomerate's liquidity for share repurchases.

Operating earnings fell 5.8% year on year to 12.705 billion US dollars from 13.485 billion US dollars. Insurance underwriting profit dropped 43% to 1.352 billion US dollars, while insurance investment income declined 14% to 2.734 billion US dollars. The pressure centered on insurance operations, making underwriting performance a key issue for investors assessing Berkshire after the leadership transition.

Railroad and energy offset pressure

Other operating businesses provided a counterweight. Berkshire's railroad, energy and manufacturing activities all recorded year-on-year earnings growth, according to CNBC. BNSF railway profit rose to 1.729 billion US dollars from 1.449 billion US dollars, while Berkshire Hathaway Energy profit increased to 1.6 billion US dollars from 1.49 billion US dollars.

Net earnings attributable to shareholders fell 28% to 22.112 billion US dollars from 30.796 billion US dollars. The decline also reflected lower investment gains, which fell to 9.407 billion US dollars from 17.311 billion US dollars. Because those gains include changes in the market value of Berkshire's equity holdings, operating earnings remain the more direct measure of the wholly owned businesses' quarterly performance.

Liquidity remains central to valuation

Cash and short-term Treasury holdings rose to 377.435 billion US dollars at the end of September from 365.514 billion US dollars at the end of June. The combination of substantial liquidity and larger buybacks gives investors a clearer capital-allocation signal, but the weaker insurance result leaves the quality and durability of operating profit in focus.

Berkshire Hathaway stock traded at 519.30 euros on Lang & Schwarz at 12:45 CET on Wednesday, November 11, 2026.