OMAHA, Nebraska, November 1, 2025: Berkshire Hathaway Inc. on Saturday reported a 34 % increase in operating earnings for the third quarter of 2025, raising the figure to approximately $13.5 billion. The results reflect growth across the company’s wholly-owned businesses, including insurance, railroads and manufacturing. The underwriting profit in the insurance segment climbed sharply to about $2.37 billion, an increase of more than 200 % from the same period a year earlier. This boost came amid fewer catastrophe losses and strong claims performance across the insurance operations. Meanwhile, the company disclosed that it did not repurchase any of its own Class A or Class B shares during the first nine months of 2025. The absence of stock buybacks has extended a pause in repurchases.
Cash, cash equivalents and short-term investments held by Berkshire reached a record high of approximately $381.7 billion at the end of September. This marks a substantial increase from the prior quarter’s level. For the quarter, the company reported becoming a net seller of equities, with stock sales outpacing purchases. The firm recorded taxable gains of about $10.4 billion on its equity portfolio during the period. On a broader earnings basis, net income rose around 17 % year-on-year to about $30.8 billion, while revenues ticked up by roughly 2 % to about $94.97 billion. The relatively modest revenue growth contrasted with the stronger earnings gain, indicating that margin improvements and underwriting strength were key drivers.
Company reports record cash reserves in third quarter
Chair and Chief Executive Officer Warren Buffett of Berkshire, speaking at the firm’s Omaha headquarters, emphasised the importance of focusing on the company’s operating results rather than the short-term swings in equities and investments. He reiterated that the firm remains ready to allocate capital through acquisitions, share repurchases or investments when the right opportunities present themselves. The financial results come amid a leadership transition at Berkshire. Vice Chairman Greg Abel is set to assume operational leadership in early 2026. Berkshire noted that the strong operating results and high liquidity provide the company with flexibility under the upcoming change.
Company prepares for annual Omaha meeting
Analysts noted that the strong underwriting profit and operating earnings mark a recovery for the conglomerate after recent quarters affected by insurance losses and weaker manufacturing margins. The record cash balance also underscores the scale of capital available to Berkshire for deployment. Berkshire’s shares have risen approximately 5 % year to date, compared with a rise of more than 16 % for the S&P 500. Investors continue to monitor how the company will allocate its record liquidity and adapt under new leadership. The company will host its annual shareholders meeting next May in Omaha, where management said they will review results and answer questions regarding capital allocation and operating performance. – By Content Syndication Services.