Berkshire Hathaway stock buybacks more than double as Q3 profit falls

Berkshire Hathaway accelerated its capital returns while operating profit weakened in the third quarter ended September 30, 2026. The company repurchased 9.6 billion US dollars of its own stock, more than double the 4.5 billion US dollars bought in the second quarter, according to CNBC.

Berkshire's operating earnings fell 5.8 percent year over year to 12.705 billion US dollars from 13.485 billion US dollars. The decline came as insurance underwriting earnings dropped 43 percent to 1.352 billion US dollars and insurance investment income fell 14 percent to 2.734 billion US dollars.

Insurance Weakness Meets Business Growth

The quarterly picture was mixed across Berkshire's operating businesses. BNSF Railway, Berkshire Hathaway Energy, and the manufacturing, service and retailing operations all reported higher earnings than in the year-earlier quarter, partly offsetting the pressure in insurance.

Net earnings attributable to Berkshire shareholders declined 28 percent to 22.112 billion US dollars from 30.796 billion US dollars. Investment gains fell nearly 50 percent to 9.407 billion US dollars, making the reported profit decline sharper than the movement in operating earnings. Berkshire's operating earnings exclude investment gains and are generally more useful for assessing the performance of its wholly owned businesses.

For investors, the buyback pace is the clearest capital-allocation signal in the quarter. Berkshire spent 14.4 billion US dollars on repurchases during the first nine months of 2026, with the third-quarter increase arriving despite weaker insurance results. The company's five largest equity holdings remained Alphabet, American Express, Apple, Bank of America and Coca-Cola.

Cash Reserves Remain Central

Berkshire's cash holdings rose 3 percent during the quarter to 377.435 billion US dollars from 365.514 billion US dollars in the second quarter. Excluding rail and utility cash as well as Treasury-bill payables, cash totaled 352.3 billion US dollars, down 1.9 percent from the prior quarter.

Berkshire Hathaway stock traded at 511.55 euros on Lang & Schwarz at 13:33 CET on Tuesday, November 10, 2026. The combination of a large liquidity reserve, heavier repurchases and resilient results outside insurance leaves capital deployment and underwriting performance as the main investor focus after the quarterly release.

Investors can follow broader US equity developments in Current market reports.

More news and analyses on Berkshire Hathaway stock.