Berkshire Hathaway Q2 2026 Earnings and Buybacks

Berkshire Hathaway Inc. reported higher operating profit and investment gains in the second quarter of 2026. The company accelerated stock repurchases while trimming its cash-and-Treasury balance, signaling a shift toward more active capital deployment.

Quarter Results and Investment Gains

Berkshire’s operating earnings rose to $13.0 billion from $11.2 billion a year earlier, while net earnings attributable to shareholders increased to $25.7 billion from $12.4 billion, according to the company’s Aug. 8 earnings release and Form 10-Q. Investment gains totaled $12.7 billion, nearly two and a half times the prior-year quarter’s $5.0 billion. The release noted that “The limited information that follows in this press release is not adequate for making an informed investment judgment.”

Investment gains accounted for roughly half of the quarter’s net earnings, highlighting the significant impact of market results on reported profit. The rise in operating profit reflected stronger performance across manufacturing, service, and retail businesses, along with contributions from railroad BNSF and favorable foreign-currency movements.

Share Repurchases and Cash Position

Berkshire repurchased $4.5 billion of its own stock during the quarter and continued buybacks afterward, repurchasing more than $3.3 billion in July. The company also became a net buyer of stocks for the first time in 15 quarters, purchasing $23.5 billion of equity securities while selling $3.7 billion. These purchases included large-cap technology shares such as Alphabet. The quarter marked the second full period under CEO Greg Abel.

Cash and U.S. Treasury bills declined modestly to $344.1 billion at June 30 from $347.7 billion at March 31. An alternate cash measure using a broader definition showed roughly $365.5 billion. Combined with the quarter’s operating and investment gains, the accelerated buybacks and slight cash reduction indicate a move toward more active capital deployment.