Berkshire Hathaway Inc

Latest Results (02.06.2026):

Berkshire Hathaway Inc. — First Quarter 2026: Berkshire reported strong first-quarter 2026 results with net earnings attributable to Berkshire shareholders of $10,106 million (total net earnings $10,179 million), up from $4,603 million in Q1 2025. Consolidated revenues were $93.7 billion, investment losses narrowed versus the prior year, and shareholders’ equity increased to $729.45 billion. The company also completed a major acquisition (OxyChem) early in the year and continued modest share repurchases.

Profit & earnings per share

Net earnings attributable to Berkshire shareholders were $10,106 million in Q1 2026 vs. $4,603 million in Q1 2025. Net earnings per average equivalent Class A share were $7,027 (Class B equivalent $4.68) compared with $3,200 (Class B $2.13) in Q1 2025.

Revenues and operating results

Total revenues were $93,675 million in Q1 2026, up from $89,725 million a year earlier. Insurance & Other revenues were $81,052 million and Railroad, Utilities & Energy contributed $12,623 million. Total costs and expenses were $79,927 million.

Investments and investment results

Investment losses narrowed to $(1,605) million in Q1 2026 from $(6,435) million in Q1 2025. Equity securities fair value at March 31, 2026 was $288,034 million (five largest equity holdings represented ~61% of the equity portfolio: American Express, Apple, Bank of America, Coca‑Cola and Chevron).

Cash flow, liquidity and short-term Treasuries

Net cash provided by operating activities was $10,438 million. Net cash used in investing activities was $4,308 million (Q1 2025: $16,401 million). Short-term U.S. Treasury Bills held were $339,261 million and cash & equivalents (end of quarter, incl. restricted cash) totaled $58,810 million.

Acquisitions and corporate actions

On January 2, 2026 Berkshire completed the acquisition of Occidental’s chemicals business (OxyChem) for approximately $9.5 billion (subject to adjustment). The company repurchased $235 million of treasury stock during the quarter.

Balance sheet and capital structure

Total assets were $1,252,271 million and total liabilities $522,821 million at March 31, 2026. Shareholders’ equity rose to $729,450 million. Short- and long-term borrowings include Berkshire and BHFC notes (insurance & other borrowings $42,835 million; railroad, utilities & energy borrowings $86,051 million).

Insurance reserves and claim activity

Insurance unpaid losses and loss adjustment expenses were $121,561 million at March 31, 2026 (net of reinsurance $117,277 million). Retroactive reinsurance liabilities were $30,368 million. The company reported no single significant catastrophe (> $150 million) in Q1 2026.

Taxes and comprehensive income

Income tax expense increased to $2,140 million in Q1 2026 (Q1 2025: $476 million). Comprehensive income attributable to Berkshire shareholders was $10,043 million in Q1 2026 versus $5,103 million a year earlier.