Berkshire Hathaway (BRK-B) reported net income of US$ 22.1 billion attributable to shareholders in 3Q26 (third quarter of 2026), versus US$ 30.8 billion in the same period of 2025, a 28% decline. Earnings per share equivalent to one Class B share were US$ 10.33, versus US$ 14.28 a year earlier. Investment gains totaled US$ 9.4 billion in the quarter, versus US$ 17.3 billion in 3Q25.
Operating income (non-GAAP, an adjusted metric that excludes investment gains and losses and certain accounting write-offs) was US$ 12.7 billion in 3Q26, versus US$ 13.5 billion in 3Q25. In the first nine months of 2026, net income was US$ 57.9 billion, versus US$ 47.8 billion a year earlier. Adjusted operating income for the period was US$ 37 billion, versus US$ 34.3 billion.
By segment in 3Q26, adjusted operating income was: insurance (underwriting), US$ 1.4 billion, versus US$ 2.4 billion; insurance (investment income), US$ 2.7 billion, versus US$ 3.2 billion; BNSF, US$ 1.7 billion, versus US$ 1.4 billion; Berkshire Hathaway Energy, US$ 1.6 billion, versus US$ 1.5 billion; and manufacturing, services and retail, US$ 4 billion, versus US$ 3.6 billion. The Other item totaled US$ 1.2 billion, versus US$ 1.4 billion, and includes foreign currency losses of US$ 343 million on debt denominated in currencies other than the dollar.
Berkshire repurchased about US$ 9.6 billion in shares in 3Q26, and the nine-month total reached about US$ 14.4 billion. Insurance float (net liabilities assumed under insurance contracts) was about US$ 178.5 billion as of September 30, 2026, up about US$ 2.1 billion since the end of 2025.
