Berkshire Hathaway Inc (NYSE:BRK.A) over the weekend reported higher operating earnings and a record cash position in the first quarter of 2026, marking the company’s first full-quarter results under new CEO Greg Abel, who succeeded longtime leader Warren Buffett.
The conglomerate said operating earnings rose to $11.35 billion for the quarter, up nearly 18% from $9.64 billion a year earlier, driven by gains across several of its core businesses, including insurance underwriting. The result came in slightly below analyst expectations of $11.56 billion.
Net income attributable to Berkshire shareholders more than doubled year-over-year, rising to $10.11 billion from $4.6 billion in the first quarter of 2025. The increase was influenced in part by improved investment results, though Berkshire reported investment losses of $1.24 billion during the quarter, compared with a larger loss of $5.04 billion a year earlier.
Berkshire’s cash holdings continued to climb, reaching a record $397 billion at the end of the quarter, up from $373 billion at the end of 2025.
Insurance underwriting contributed $1.7 billion in earnings, an increase of 28% compared with the same period last year. However, performance across the segment was mixed, with Geico, Berkshire’s largest auto insurer, reporting a 34% decline in earnings.
Earnings per equivalent Class A share were $7,027, compared with $3,200 a year earlier, while Class B equivalent earnings rose to $4.68 from $2.13.
The company highlighted that the figures reflect average equivalent shares outstanding of approximately 1.44 million Class A shares and 2.16 billion Class B shares for the quarter.
Shares of Berkshire Hathaway added about 1% at about $477 following the report.