Berkshire Hathaway stock buybacks hit 9.6 billion US dollars as profit falls

Berkshire Hathaway accelerated its capital returns in the third quarter even as weaker insurance results pulled down operating profit. The conglomerate repurchased 9.6 billion US dollars of its own stock between July and September, according to CNBC, which published its report on Saturday, November 7, 2026.

The repurchases were more than double the 4.5 billion US dollars spent in the second quarter and lifted Berkshire's total buybacks for 2026 to 14.4 billion US dollars. The pace signals that CEO Greg Abel is willing to deploy more of the conglomerate's substantial liquidity when management considers the shares attractively priced. It does not, however, establish that the same level of buying will continue.

Insurance Results Weigh on Profit

Berkshire's operating earnings from wholly owned businesses fell 5.8% year over year to 12.705 billion US dollars in the third quarter, from 13.485 billion US dollars. Insurance underwriting earnings dropped 43% to 1.352 billion US dollars, while insurance investment income declined 14% to 2.734 billion US dollars.

The insurance weakness was partly offset by higher earnings from Berkshire's railroad, energy and manufacturing businesses. That mix is important for investors because operating earnings exclude changes in the value of the company's listed stock portfolio and are therefore less exposed to market swings than reported net income.

Overall earnings declined 28% to 22.112 billion US dollars from 30.796 billion US dollars a year earlier. Investment gains fell nearly 50% to 9.407 billion US dollars, adding to the gap between reported net income and the performance of Berkshire's operating businesses.

Cash Remains a Strategic Asset

Berkshire's cash holdings increased 3% 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, the cash balance was 352.3 billion US dollars, down 1.9% from the prior quarter.

The combination of a larger buyback and a still substantial cash reserve gives Abel flexibility in allocating capital across repurchases, acquisitions and Berkshire's operating companies. For shareholders, the immediate trade-off is clear: buybacks can support per-share ownership when made below intrinsic value, while weaker insurance profitability remains a near-term drag on the group's earnings profile.

Berkshire Hathaway stock traded at 532.80 euros on Lang & Schwarz at 12:52 CET on Thursday, November 12, 2026.

The S&P 500 remains the relevant broad US equity benchmark for investors assessing Berkshire's relative performance.

More news and analyses on Berkshire Hathaway stock will track insurance profitability, capital allocation and the next quarterly update.