Berkshire Hathaway Q2 operating earnings rise to $12.98 billion as Greg Abel boosts buybacks

CNBC·10 Aug 2026·

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Berkshire Hathaway reported second-quarter 2026 operating earnings of $12.98 billion, up from $11.16 billion a year earlier, as CEO Greg Abel sharply increased share repurchases and reversed a prolonged stretch of stock selling. Abel spent approximately $4.5 billion on buybacks during the quarter, a significant jump from $235 million in the first three months of 2026, and the company swung to nearly $20 billion in net equity purchases after 14 consecutive quarters of net selling. Cash reserves fell to $365.5 billion as of June 30 from a record $397.4 billion at the end of the first quarter, partly reflecting the closing of the Taylor Morrison acquisition. Earnings were driven by a 24% increase in the manufacturing, service and retailing segment to $4.47 billion, a 27% rise in Berkshire Hathaway Energy profit to $891 million, and a 6% gain at BNSF railroad to $1.56 billion, while insurance underwriting earnings dropped 13% to $1.73 billion and insurance investment income fell 9% to $3.06 billion. Net earnings attributable to shareholders reached $25.67 billion, compared with $12.37 billion a year earlier, boosted by $12.68 billion in investment gains including $10.9 billion in unrealized equity gains. The filing also showed Alphabet has entered the top five equity positions by market value, joining American Express, Apple, Bank of America and Coca-Cola, with the $10 billion stake focused on supporting AI development.

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