Berkshire Hathaway Inc

Latest Results (13.07.2026):

Berkshire Hathaway Inc. — First Quarter 2026: Berkshire reported strong first-quarter 2026 results with net earnings of $10.179 billion (net earnings attributable to Berkshire shareholders $10.106 billion), up from $4.672 billion in Q1 2025. Total revenues were $93.675 billion and the company generated $10.438 billion of operating cash flow. Investment losses narrowed to $1.605 billion (versus $6.435 billion in Q1 2025). Total assets were $1.252 trillion and total shareholders’ equity was $729.45 billion as of March 31, 2026.

Earnings and per-share results

Net earnings (consolidated) were $10,179 million in Q1 2026 versus $4,672 million in Q1 2025. Net earnings attributable to Berkshire shareholders were $10,106 million. Reported net earnings per average equivalent Class A share were $7,027 and per equivalent Class B share were $4.68 for the quarter.

Revenue and segment performance

Total revenues rose to $93,675 million (Q1 2025: $89,725 million). Insurance & Other revenues were $81,052 million (including insurance premiums earned $22,005 million; sales & service revenues $50,946 million). Railroad, Utilities & Energy contributed $12,623 million (railroad $5,940 million; utilities & energy operating revenues $5,807 million).

Investments and investment results

Investment losses improved materially: a loss of $1,605 million in Q1 2026 compared with a $6,435 million loss a year earlier. Equity securities fair value was $288.034 billion at March 31, 2026 (down from $297.778 billion at year-end 2025); the five largest equity holdings (AmEx, Apple, Bank of America, Coca‑Cola, Chevron) accounted for ~61% of equity securities’ fair value. Proceeds from equity sales were ~$24.1 billion in Q1 2026 (taxable gains reported ~$7.2 billion).

Liquidity and cash

Cash and cash equivalents plus short-term Treasury holdings were substantial: cash & cash equivalents total $58,810 million and short-term investments in U.S. Treasury bills were $339,261 million (note: $17.2 billion of unsettled purchases of T‑Bills were reflected as payables and paid shortly after quarter‑end). Net increase in cash and restricted cash for the quarter was $6,241 million.

Acquisitions and investments activity

Berkshire completed the acquisition of Occidental’s chemicals business (OxyChem) on January 2, 2026 for approximately $9.5 billion (Occidental retained legacy environmental liabilities). Business acquisitions added to goodwill and other intangibles; the company paid down and deployed cash in investing activities (net investing cash flow of -$4,308 million for Q1).

Cash flow and capital allocation

Operating cash flow was $10,438 million. Net cash used in investing activities was $4,308 million (including equity purchases and business acquisition cash). Financing activities were modest in Q1 (net inflow $174 million); Berkshire repurchased $235 million of common stock during the quarter (treasury stock increased accordingly).

Balance sheet, debt and insurance reserves

Total assets $1,252.271 billion; total liabilities $522.821 billion; total shareholders’ equity $729.450 billion. Insurance unpaid losses and LAE were $121.561 billion (plus $30.368 billion for retroactive reinsurance liabilities). Notes payable and other borrowings: insurance & other $42.835 billion; railroad, utilities & energy $86.051 billion. BHE and BNSF remained in compliance with debt covenants.

Other notable points

Comprehensive income for Q1 2026 was $10,113 million. Equity-method investments (Kraft Heinz, Occidental, Berkadia) carried at $19.951 billion; equity in earnings from these investments was $176 million in the quarter. The report discloses concentration in a few large equity holdings and continued sensitivity of interim results to market-value changes and foreign‑exchange movements (foreign‑exchange effects and discount‑rate changes affected other comprehensive income).