Berkshire Hathaway reported operating earnings of $12.98 billion for the second quarter of 2026, a figure that compares with $11.16 billion in the same period last year, as CEO Greg Abel stepped up share repurchases and reversed a prolonged stretch of stock selling.
Abel, who took over from Warren Buffett at the start of the year, spent approximately $4.5 billion on buybacks during the quarter, a sharp increase from the $235 million deployed in the first three months of 2026, according to CNBC
Berkshire also swung to the buy side in equities during the quarter, accumulating nearly $20 billion in net purchases after having sold more stocks than it bought in each of the prior 14 quarters. Berkshire’s cash reserves stood at $365.5 billion as of June 30, down from a record $397.4 billion at the close of the first quarter. The quarter included the closing of Berkshire’s acquisition of Taylor Morrison.
Several businesses drove the earnings increase. The manufacturing, service and retailing segment saw earnings grow 24% to $4.47 billion, Berkshire Hathaway Energy contributed $891 million in profit — a 27% improvement — and BNSF, the company’s railroad, added $1.56 billion, up 6%. Insurance was a weak point.