Berkshire Hathaway's Q3 operating earnings fell to $12.7 billion amid weaker insurance results, though the company offset some pressure with $9.6 billion in share buybacks.
Third-quarter 2026 operating earnings fell to $12,705 million from $13,485 million a year earlier, driven by weaker insurance underwriting ($1,352 million vs $2,369 million) and lower investment income, while nine-month operating earnings rose to $37,034 million from $34,286 million. Net earnings dropped to $22,112 million from $30,796 million largely on lower investment gains, which Berkshire itself calls meaningless. The roughly offsetting good and bad figures support a neutral read, though the $9.6 billion of Q3 buybacks lend some support.
Berkshire Hathaway reported third-quarter 2026 operating earnings of $12,705 million, down from $13,485 million in the same period last year. While insurance underwriting and investment income faced declines, the company continued its capital return strategy by repurchasing $9.6 billion in treasury shares during the quarter.
Net earnings fell to $22.1 billion from $30.8 billion a year earlier, mostly because of smaller investment gains, while operating earnings slipped to $12.7 billion from $13.5 billion.
Berkshire bought back about $9.6 billion of its own shares in the third quarter, and nine-month operating earnings rose to $37.0 billion from $34.3 billion.