Berkshire Hathaway stock boosts buybacks as Q3 earnings fall
Published on 11/09/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSResults Put Capital Allocation In Focus
- Third-quarter operating earnings fell as insurance underwriting and investment income weakened.
- Railroad, energy and manufacturing businesses increased their earnings from a year earlier.
- Greg Abel's Berkshire accelerated share repurchases while its balance sheet remained exceptionally strong.
Berkshire Hathaway reported lower third-quarter operating earnings on Saturday, November 7, as weaker insurance results outweighed growth in its railroad, energy and manufacturing businesses. The filing and accompanying results were released as Greg Abel's first year as chief executive continues to shift investor attention toward capital allocation.
Operating earnings from Berkshire's wholly owned businesses fell 5.8 percent to 12.705 billion US dollars from 13.485 billion US dollars a year earlier, according to CNBC. Net earnings attributable to Berkshire shareholders declined to 22.112 billion US dollars from 30.796 billion US dollars, reflecting a sharp reduction in investment gains.
Insurance Weakness Offsets Operating Growth
Insurance underwriting earnings dropped 43 percent to 1.352 billion US dollars, while insurance investment income fell 14 percent to 2.734 billion US dollars. The figures underline the sensitivity of Berkshire's earnings mix to claims experience, underwriting expenses and short-term interest rates.
Other operating units offered a partial counterweight. Berkshire Hathaway's railroad, energy and manufacturing operations all earned more than in the third quarter of 2025. Group revenue rose to 105.647 billion US dollars from 94.972 billion US dollars, according to the company's third-quarter filing.
Buybacks Signal A More Active Stance
Berkshire repurchased 9.647 billion US dollars of its own shares during the quarter, more than twice the 4.527 billion US dollars spent in the second quarter. The company also completed the 6.8 billion US dollar acquisition of homebuilder Taylor Morrison in July, showing that capital deployment extended beyond repurchases.
The balance sheet remains a central part of the investment case. Cash, cash equivalents and short-term Treasury bills totaled 372.769 billion US dollars at September 30, before considering unsettled Treasury bill purchases. Excluding railroad and utility cash and those payables, the cash position was 352.3 billion US dollars, according to CNBC.
Berkshire Hathaway stock traded at 509.35 euros on Lang & Schwarz at 1:05:21 p.m. CET on Monday, November 9, 2026. Investors are likely to keep weighing the insurance setback against the group's expanding operating base, large liquidity reserve and more active use of capital.
Berkshire Hathaway key figures
- Company: Berkshire Hathaway Inc.
- ISIN: US0846707026
- Trading symbol: BRK.B
- Home exchange: New York Stock Exchange
- Lang & Schwarz quote: 509.35 euros, Monday, November 9, 2026, 1:05:21 p.m. CET
- Third-quarter operating earnings: 12.705 billion US dollars
- Third-quarter share repurchases: 9.647 billion US dollars
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Broader risk appetite and valuation moves across the US market remain relevant for Berkshire Hathaway stock; the S&P 500 market environment provides the main benchmark.
More news and analyses on Berkshire Hathaway stock will track insurance trends, capital deployment and the next quarterly update.
