Berkshire Hathaway Q1 2026 earnings: Greg Abel's first quarter

First-quarter operating net astatine Berkshire Hathaway came successful astatine $11.35 billion, astir 18% supra the $9.64 cardinal the institution posted successful the aforesaid 3 months of 2025. The results people CEO Greg Abel's archetypal quarterly study since taking implicit from Warren Buffett connected Jan. 1, 2026. The fig missed the $11.56 cardinal Wall Street had expected, per CNN.

Shareholder nett income for the 4th reached astir $10.1 billion, much than doubly the $4.6 cardinal recorded successful the year-ago period. That fig includes concern losses of $1.24 cardinal successful the quarter, driven by astir $7 cardinal successful unrealized losses connected equity securities, partially offset by $5.8 cardinal successful after-tax realized gains connected concern sales. Berkshire said concern gains oregon losses successful immoderate fixed 4th are "usually meaningless" arsenic a measurement of concern performance.

On the underwriting side, security nett expanded by astir 28%, reaching $1.72 cardinal versus $1.34 cardinal 12 months prior. Insurance concern income declined to $2.68 cardinal from $2.89 billion. BNSF contributed $1.38 billion, up from $1.21 billion, and Berkshire Hathaway Energy added $1.11 billion, compared with $1.10 cardinal successful the prior-year period.

By quarter's end, Berkshire's full currency presumption had swelled to implicit $397 billion, advancing from the $373 cardinal connected its books erstwhile 2025 closed, according to CNN. Insurance interval — the nett liabilities the institution assumes nether security contracts — stood astatine astir $176.9 cardinal arsenic of March 31, an summation of astir $500 cardinal since year-end 2025, Berkshire said.

At Saturday's yearly shareholder gathering successful Omaha, Nebraska, Abel led the proceedings alongside respective members of his absorption team. Buffett, present holding the president title, addressed the gathering from his spot connected the level alternatively than from the stage. Among the subjects Abel addressed was exertion adoption; helium cautioned that the institution intended to prosecute artificial quality lone wherever it could show genuine value, saying Berkshire was "not going to bash AI for the involvement of AI," according to CNBC. Buffett offered a nationalist endorsement of his successor, saying: "He's doing everything I did and past some, and he's doing it amended successful each cases."

Abel has worked to awesome continuity since taking the apical role. In his archetypal yearly missive to shareholders, Abel described Berkshire little arsenic a institution than a stewardship arrangement, penning that shareholder superior "does not beryllium to us." He besides acknowledged that aft respective years of improving pricing and terms, the security manufacture began to spot "a deceleration oregon reversal" successful 2025, peculiarly successful the second fractional of the year. Shortly aft assuming the CEO role, Abel besides restarted Berkshire's stock repurchase program, which had been paused since 2024, disclosing the determination successful a mode the institution described arsenic being "in the involvement of transparency with our enactment transition."