Berkshire Hathaway more than doubles buybacks in third quarter as earnings decline

Greg Abel, CEO of Berkshire Hathaway, speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, NE on May 2, 2026.CNBCBerkshire Hathaway said Saturday it accelerated its share repurchases during the third quarter, as operating and overall profits took a hit. The Greg Abel-led conglomerate bought back $9.6 billion worth of Berkshire stock. That's more than double the $4.5 billion repurchased in the second quarter and brings the company's total buybacks for 2026 to about $14.4 billion.The sharp increase came as Berkshire's operating earnings — those from wholly-owned businesses — fell year over year, as profits from its insurance business pulled back. Berkshire operating profits totaled $12.705 billion, down 5.8% from $13.485 billion in the year-earlier period. Insurance underwriting tumbled 43% year on year to $1.352 billion, while insurance investment income declined 14% to $2.734 billion. Berkshire's railroad, energy and manufacturing businesses all saw earnings grow year over year. The company's overall earnings, which include Berkshire's sprawling stock market portfolio, also dropped 28% in the third quarter to $22.112 billion from $30.796 billion a year prior. ...