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Berkshire Hathaway Q2 Earnings Slip as Kraft Heinz Write-Down Drags Net Income

Tariff uncertainty has prompted Berkshire Hathaway to hold $344 billion in cash before Warren Buffett hands the reins to Greg Abel at year-end.

FILE - Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview with Liz Claman on Fox Business Network's "Countdown to the Closing Bell," May 7, 2018, in Omaha, Neb. (AP Photo/Nati Harnik, File)
FILE PHOTO: People watch as Berkshire Hathaway chairman Warren Buffett is seen on a screen speaking at the Berkshire Hathaway Inc annual shareholders' meeting, in Omaha, Nebraska, U.S., May 3, 2025. REUTERS/Brendan McDermid/File Photo
Berkshire Hathaway Chairman Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, U.S., May 3, 2024. REUTERS/Scott Morgan/File Photo
Berkshire Hathaway Chairman Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, on May 3, 2024.

Overview

  • Operating earnings declined 3.8% year-over-year to $11.16 billion in the second quarter.
  • Net income plunged 59% to $12.37 billion, driven largely by a $3.8 billion write-down on its stake in Kraft Heinz.
  • The company warned that it cannot reliably predict the economic impact of President Trump’s tariffs even as BNSF Railway and Berkshire Hathaway Energy delivered double-digit earnings gains.
  • Cash reserves dipped slightly to $344 billion as the company paused share repurchases.
  • Warren Buffett will step down as CEO at the end of the year, handing the reins to vice chairman Greg Abel.