Berkshire Hathaway has reported impressive financial results for the first quarter, revealing significant operating earnings and an unprecedented accumulation of cash under the new leadership of CEO Greg Abel, who succeeded renowned investor Warren Buffett.
The conglomerate’s operating earnings reached $11.35 billion, reflecting a nearly 18% increase from the previous year. However, this figure fell slightly short of analysts’ expectations, which had projected earnings of $11.56 billion according to FactSet data. Meanwhile, the company’s cash reserves surged to more than $397 billion, a substantial increase from $373 billion at the end of 2025.
Attributable net income to Berkshire shareholders more than doubled to approximately $10.1 billion, up from $4.6 billion during the same period last year. This surge highlights the company’s robust financial performance amid shifting market dynamics.
Berkshire Hathaway’s insurance division reported a positive trend with earnings from insurance underwriting climbing to $1.7 billion, a notable 28% increase compared to the same time last year. However, within this segment, Geico, the prominent player in the conglomerate’s insurance business, posted a concerning 34% drop in earnings.
This quarterly report marks the first financial results released under Abel’s leadership, who officially took the helm at the start of 2026. He had previously communicated with shareholders in an annual letter published in February. On Saturday, Abel will take a prominent role at Berkshire’s annual meeting, often referred to as the “Woodstock for Capitalists,” held in the company’s hometown of Omaha, Nebraska.
As Abel assumes his duties, he faces the challenge of stepping into the shoes of Buffett, who, at 95, consistently drew immense crowds to these events, where thousands gathered to hear his market insights. Buffett has also been a prominent figure promoting various Berkshire-owned brands, including popular products like Squishmallow and Fruit of the Loom.
This developing story will continue to be updated as more information becomes available.
