Berkshire Q1 profit jumps, cash hits record

Berkshire Hathaway (BRK-B) reported a robust first-quarter performance for 2026, with operating profit rising 18% to $11.35 billion, up from $9.64 billion a year earlier. The improvement was supported by gains in insurance underwriting and other business segments across the conglomerate.

Net income for the quarter more than doubled to $10.1 billion, compared with $4.6 billion in the previous year. On a per-share basis, net income reached $7,027 per Class A share, underscoring the scale of the earnings increase over the 12-month period.

Berkshire’s cash and Treasury bill holdings climbed to a record $380 billion in the quarter, after deducting about $17 billion of payables for Treasury bills. The growing cash balance highlights the company’s substantial liquidity and financial flexibility.

The record cash level comes as Berkshire continues to be a net seller of equities. In the most recent quarter, the company bought $15.9 billion of stocks while selling $24.1 billion, resulting in net stock sales of $8 billion and marking the 14th consecutive quarter as a net seller of stocks.

Alongside its earnings release, Berkshire disclosed that it had resumed buying back its own shares. The conglomerate repurchased $234 million of its stock in the quarter, its first share buybacks since May 2024, according to the reported figures.

The scale of repurchases was modest relative to Berkshire’s overall cash holdings, but the move signaled a return to a capital allocation tool that had been on pause. The buybacks occurred against the backdrop of the company’s elevated cash position and continued net selling of other stocks.

The first-quarter results unfolded under the leadership of new CEO Greg Abel, who has taken over stewardship of Berkshire’s diversified operations. The company’s financial strategy, including its large cash position and selective stock activity, reflects a continuation of the prudent approach associated with Warren Buffett’s long tenure.

Abel’s period at the helm has so far been marked by strong operating performance, particularly in insurance underwriting, and cautious deployment of capital. The combination of higher profits, resumed buybacks, and record cash suggests Berkshire is maintaining significant capacity for future investment while prioritizing balance sheet strength.