Berkshire Hathaway’s Q3 2026 operating earnings fell 5.8% year over year as combined cash, equivalents and short-term U.S. Treasury bills across its businesses rose to $377.4 billion.
Berkshire’s earnings release reported operating earnings of $12.705 billion, a $780 million decline from the same quarter a year earlier. Its Q3 Form 10-Q listed $377.4 billion in cash, cash equivalents and short-term U.S. Treasury bills across Berkshire’s businesses, about 1% above the Dec. 31, 2025, level. The amount combines all three categories.
To calculate operating earnings, Berkshire excludes investment gains and losses, impairments to goodwill and intangible assets, and other-than-temporary impairments of equity-method investments. Berkshire cautioned that quarterly investment gains do not necessarily track underlying operations.
Within insurance, earnings from underwriting fell to $1.352 billion from $2.369 billion a year earlier; investment income came in at $2.734 billion, below $3.181 billion. Berkshire’s release showed higher operating earnings at BNSF, Berkshire Hathaway Energy Company and its manufacturing, service and retailing businesses.
Net earnings attributable to Berkshire shareholders were $22.112 billion, compared with $30.796 billion a year earlier. Investment gains came to $9.407 billion, versus $17.311 billion. The release noted that U.S. accounting rules reflect unrealized changes in equity investments in net earnings; quarterly investment gains may not track performance at its businesses.
Berkshire’s earnings release also reported about $9.6 billion in share repurchases for the quarter, covered in EconoTimes’ earlier report on its quarterly buybacks.
Under the SEC filing schedule, Berkshire’s Form 13F for reportable U.S. holdings covering the quarter ended Sept. 30, 2026, is due Monday, Nov. 16.
