Berkshire Repurchases Record $9.6 Billion in Shares as Profits Fall

WHO:

ABC News - Berkshire Hathaway repurchased its own shares; the company owns Geico, utilities, BNSF railroad, and manufacturing and retail businesses, including Precision Castparts and See’s Candy.

ABC News - Warren Buffett planned to retire, relinquished the CEO role to Greg Abel, and later gave up the chairman title.

ABC News - CFRA Research analyst Cathy Seifert said Geico was facing pressure from declining premiums and rising average claims costs.

ABC News - Seifert said, “I think we’re seeing the businesses that play to Greg’s strengths do well. But the question is what about the rest of the franchise.”

Bloomberg Markets - Bloomberg Intelligence Senior Insurance Analyst Matthew Palazola discussed Berkshire’s results with hosts David Gura and Christina Ruffini.

WHAT:

ABC News - Berkshire repurchased $9.6 billion of its shares, a record according to Bloomberg Markets.

ABC News - Berkshire reported $22.1 billion in profit, or $15,502 per Class A share, down from $30.8 billion and $21,413 per share in the comparable quarter a year earlier; overall profit fell more than 28%.

ABC News - Operating earnings fell nearly 6% to $12.7 billion, or $8,907 per Class A share, from $13.485 billion, or $9,376.15 per share. Four FactSet-surveyed analysts had estimated $8,821.84 per Class A share.

ABC News - Geico underwriting profit fell to $1.35 billion from $2.37 billion. Seifert said competitors such as Progressive were handling the pressure better.

ABC News - Berkshire’s cash reserves rose to $377.4 billion from $365.5 billion.

Bloomberg Markets - Palazola said CEO Greg Abel was putting Berkshire’s cash reserves to work through buybacks, acquisitions, and equity investments while maintaining Warren Buffett’s measured approach.

WHERE:

ABC News - Berkshire Hathaway is based in Omaha, Nebraska.

WHY:

ABC News - Berkshire’s reported overall profit declined as the value of its investments changed; operating earnings exclude investment-value changes.

ABC News - Geico faced lower insurance premiums and increasing average claims costs.

HOW:

ABC News - Berkshire’s reported operating earnings exclude changes in the value of its investments, which can vary widely.

ABC News - Berkshire’s non-insurance businesses include manufacturers, utilities, and BNSF railroad; the article said they appeared to be performing better than its insurance unit despite no major hurricanes or other catastrophes this year.

ABC News - Berkshire’s Class A share price surged past $878,000 and above its level before Buffett’s retirement plans were announced; the article said buybacks likely stopped recently.

(UPDATED November 7, 2026 16:59 UTC)

Berkshire Hathaway’s profit fell as investment values shifted, while operating earnings also declined. The company repurchased a record $9.6 billion in shares. Geico’s underwriting profit dropped amid lower premiums and rising claims.