Berkshire Hathaway repurchased $9.6 billion of its own shares in the third quarter, but its overall profit fell more than 28% and its Geico insurance unit disappointed, The Associated Press reported.
The Omaha, Nebraska-based conglomerate reported a $22.1 billion profit, or $15,502 per Class A share, on Saturday. That was down from $30.8 billion, or $21,413 per share, a year earlier.
Berkshire has long told investors to focus on operating earnings, which leave out swings in the value of its investments. Those also slipped nearly 6%, to $12.7 billion, or $8,907 per Class A share, compared with $13.485 billion a year ago. Four analysts surveyed by FactSet had expected $8,821.84 per share.
The company’s cash pile grew again to $377.4 billion, up from $365.5 billion at the end of June.
The AP reported that buybacks likely stopped recently as Berkshire’s Class A shares climbed past $878,000, above where they stood before Warren Buffett announced his retirement plans in May 2025. Buffett handed the CEO job to Greg Abel in January and gave up the chairman title in September.
Berkshire owns Geico and other insurers, the BNSF railroad, major utilities, and manufacturing and retail companies such as Precision Castparts and See’s Candies.
Sources: KTAR News / The Associated Press. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
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