Overview
- At his first shareholder meeting, Greg Abel pledged to invest Berkshire’s cash carefully and said he will not split up the company.
- Berkshire reported first-quarter operating earnings up 18% to $11.35 billion, with cash reaching a record $380.2 billion.
- The company repurchased $234 million of its own shares, its first buyback since May 2024.
- An appeals court eased the immediate risk of large wildfire penalties for utility PacifiCorp, though Oregon cases from 2020 are still moving forward.
- Berkshire shares have lagged the S&P 500 since Warren Buffett said he would step back from the top role, reflecting mixed investor sentiment in the new era.