Berkshire Hathaway Inc

Latest Results (24.08.2026):

Berkshire Hathaway Inc. — Second Quarter 2026: Berkshire reported strong second-quarter 2026 results with net earnings attributable to Berkshire shareholders of $25,667 million (Q2 2025: $12,370 million), total revenues of $101,808 million, and significant investment gains. The quarter was marked by sizable equity‑security valuation gains, positive equity‑method contributions, ongoing acquisitions activity (including the January 2, 2026 OxyChem close and the Taylor Morrison agreement), and meaningful share repurchases. Total assets at June 30, 2026 were $1,263,071 million and total shareholders’ equity was $750,177 million.

Net earnings and EPS

Net earnings attributable to Berkshire shareholders in Q2 2026 were $25,667 million (company net earnings $25,772 million). Reported net earnings per average equivalent Class A share were $17,868 and per Class B share $11.91 for Q2 2026 (Q2 2025: $8,601 and $5.73 respectively).

Revenues and segment results

Total revenues in Q2 2026 were $101,808 million (Insurance & Other: $88,501 million; Railroad, Utilities & Energy: $13,307 million). Earnings before income taxes were $32,063 million for the quarter.

Investment gains and equity portfolio

Investment gains in Q2 2026 totaled $16,077 million (driven mainly by changes in unrealized gains on equity securities, $15,644 million). Fair value of equity securities at June 30, 2026 was $323,779 million; Berkshire’s five largest equity holdings represented about 66% of that portfolio (Alphabet, American Express, Apple, Bank of America and Coca‑Cola).

Equity‑method investments

Equity‑method earnings were $248 million in Q2 2026 (compared with a $(4,745) million equity‑method loss in Q2 2025). Principal equity‑method investees include Kraft Heinz, Occidental and Berkadia. The filing discloses prior impairments (notably a Kraft Heinz impairment recorded in Q2 2025) and that Berkshire reports Kraft Heinz and Occidental effects on a one‑quarter lag.

Acquisitions and corporate activity

Berkshire completed the acquisition of Occidental’s OxyChem business on January 2, 2026 for approximately $9.4 billion (preliminary asset values disclosed). On May 31, 2026 Berkshire agreed to acquire Taylor Morrison for about $6.8 billion in cash; the shareholder vote occurred July 22 and the acquisition closed July 24, 2026 (post‑quarter), with initial purchase accounting disclosures to follow.

Share repurchases and shareholders’ equity

Berkshire repurchased common stock during Q2 2026—about $4.5 billion of acquisitions of common stock in the quarter (treasury stock at cost was $83,701 million at June 30, 2026). Total shareholders’ equity was $750,177 million at June 30, 2026.

Cash flow and liquidity

Net cash provided by operating activities for the first six months of 2026 was $21,653 million. Net cash used in investing activities was $28,644 million (driven by purchases of equity securities and U.S. Treasury Bills). Cash and cash equivalents and restricted cash at June 30, 2026 were $41,360 million; short‑term U.S. Treasury Bills held were $324,905 million.

Balance sheet and insurance liabilities

Total assets were $1,263,071 million. Insurance unpaid losses and loss adjustment expenses were $122,875 million and unpaid losses under retroactive reinsurance were $29,978 million at June 30, 2026. Long‑duration life, annuity and health insurance benefit liabilities totaled $17,738 million. Total borrowings: Insurance & Other $43,302 million; Railroad, Utilities & Energy $85,297 million.