Overview
- Berkshire repurchased $9.6 billion of its own stock in the third quarter, more than doubling second-quarter activity and bringing 2026 buybacks to about $14.4 billion.
- The company reported $22.1 billion in GAAP profit and operating earnings of $12.7 billion, with the GAAP drop driven largely by swings in investment values that do not reflect core business results.
- Geico’s weaker performance and a 43% fall in insurance underwriting results weighed on operating profits and contributed materially to the overall decline.
- Berkshire’s cash pile grew to roughly $377.4 billion, and an adjusted measure that excludes railroad and utility cash stood near $352.3 billion, leaving the firm with substantial dry powder for future deals or returns.
- With Greg Abel now in charge, the recent stock-price rise above about $878,000 made further buybacks less attractive and could redirect capital decisions toward acquisitions, reinvesting in businesses, or holding cash.