Business · Companies · 3 hrs ago
Berkshire buys back $9.6 billion of its shares as profits fall
Berkshire Hathaway, the US conglomerate once led by Warren Buffett, bought back $9.6 billion of its own shares in the third quarter.
The company is now led by Greg Abel, who became CEO at the start of the year, while Buffett stepped down as chairman in September.
Berkshire bought $2.4 billion of stocks and sold $2.8 billion, making it a net seller of shares during the quarter.
Its operating earnings fell nearly 6% from a year earlier to $12.7 billion, with weaker insurance results offsetting stronger profits at businesses including BNSF Railway.
Berkshire’s share price has risen as investors have sought shelter from falling technology stocks, but its investment gains and insurance profits weakened.
Abel has broadly kept to Buffett’s cautious investment approach, while speeding up share buybacks.
Investors will get more detail on Berkshire’s stock trades next week, when the company is due to file its portfolio disclosure.
Berkshire Hathaway repurchased $9.6 billion of its shares in the third quarter of 2026.
The company reported net profit of $22.1 billion, down 28.2% from the same quarter a year earlier.
Operating earnings fell about 6% to $12.7 billion, with weaker insurance results partly offset by gains in other businesses.
Berkshire’s cash reserves were reported at $377.4 billion by Globe and Mail and Handelsblatt, while Business Insider reported $357 billion after subtracting Treasury payables.
- Who
- Berkshire Hathaway, led by CEO Greg Abel.
- What
- The company bought back $9.6 billion of its shares as quarterly profit fell.
- When
- The third quarter of 2026; results were reported on Saturday, November 7.
- Where
- Berkshire Hathaway is based in Omaha, Nebraska.
- Why
- Net profit fell mainly because of weaker insurance results and lower investment gains.
This story does not have two clearly opposing sides.
Berkshire repurchased 2,465 Class A shares and 3,131,323 Class B shares.
Berkshire repurchased 88 Class A shares and 1,548,314 Class B shares.
Berkshire repurchased 1,983 Class A shares and 7,705,322 Class B shares.
Berkshire reported third-quarter net profit of $22.1 billion and share repurchases of $9.6 billion.
- Share repurchases
- $9.6 billion in the third quarter of 2026
- Net profit
- $22.112 billion, down 28.2% year over year
- Operating earnings
- $12.705 billion, down 5.8% year over year
- Cash reserves
- $377.4 billion, according to Globe and Mail and Handelsblatt
- Insurance underwriting profit
- $1.35 billion, compared with $2.37 billion a year earlier
10 sources
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What people are saying
So we’ve been kind of expecting this on our end.
I think we’re seeing the businesses that play to Greg’s strengths do well. But the question is what about the rest of the franchise
indicates caution with respect to current market valuations other than Berkshire's.