Fastrack · Berkshire Hathaway Doubles Buybacks as Earnings Decline

Berkshire Hathaway said Saturday it repurchased $9.6 billion of its stock in the third quarter. Its operating and overall profits both declined.

$4.5 billion: second-quarter buybacks, less than half the third-quarter total.
$14.4 billion: approximate total Berkshire buybacks so far in 2026.
43% drop in insurance underwriting profit, to $1.352 billion.
28% drop in overall earnings, to $22.112 billion.

Why it matters: Insurance pulled operating profit down even as railroad, energy and manufacturing earnings grew. Insurance investment income fell 14% to $2.734 billion.

$377.435 billion in cash, up 3% from the second quarter.
$352.3 billion excluding rail, utility cash and T-bill payables, down 1.9%.

How 5 sources split on this story

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5 sources · 5 articles · 60% Center coverage

Center coverage, 3 sources: The center frames the story around Berkshire stepping up buybacks while earnings slipped, led by weaker insurance results.

CNBC2hBerkshire Hathaway more than doubles buybacks in third quarter as earnings decline Bloomberg3hBerkshire Hathaway’s Operating Earnings Fall, Buybacks Rise Financial Times2hBerkshire Hathaway ploughs $9.6bn into share buybacks

Left2 sources

Business Insider2hBerkshire Q3 earnings show Buffett-style discipline in buying stocks The Independent47mBerkshire Hathaway buys back $9.6 billion of its own stock but its profits declined

What’s next: Berkshire stock has outpaced the market during a shift away from technology shares. Class A shares rose more than 12% in a month as the S&P 500 fell 5.5%.

Top five holdings unchanged: Alphabet, American Express, Apple, Bank of America, Coca-Cola.
Will Berkshire keep buying back stock at this pace under Abel?
Is the insurance underwriting decline temporary or a longer trend?