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Get filing alertsBerkshire Hathaway reports Q2 net earnings of $25.7B, repurchases $4.5B in shares
Filed August 11, 2026 · Period ending August 8, 2026 · ~1 min read
Key Changes
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Q2 2026 net earnings of $25.7B, up from $12.4B year-over-year, driven by $12.7B in investment gains including $10.9B unrealized equity gains and $1.8B realized gains from sales.
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Operating earnings rose to $13.0B from $11.2B year-over-year. Manufacturing/service/retailing contributed $4.5B (up from $3.6B), BNSF $1.6B (up from $1.5B), while insurance underwriting declined to $1.7B from $2.0B.
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Repurchased $4.5B in shares during Q2 2026, bringing first-half total to $4.8B, reducing shares outstanding.
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Insurance float reached $177.5B at June 30, 2026, up $1.1B from year-end 2025, providing additional capital for investment.
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Summary
Berkshire Hathaway reported strong Q2 2026 results with net earnings more than doubling to $25.7 billion from $12.4 billion a year earlier, driven primarily by $12.7 billion in investment gains. Operating earnings—the metric management emphasizes as a better indicator of underlying business performance—rose 16% to $13.0 billion, reflecting solid contributions from the railroad (BNSF) and manufacturing/service/retailing segments, partially offset by weaker insurance underwriting results. The company continued returning capital to shareholders, repurchasing $4.5 billion in stock during the quarter and $4.8 billion in the first half.
Insurance float, the interest-free capital Berkshire invests from premiums collected but not yet paid out in claims, grew modestly to $177.5 billion. For long-term holders, the combination of operating earnings growth and sustained buybacks at a measured pace reflects Berkshire's disciplined capital allocation, though the quarterly investment gains are volatile and should not be extrapolated.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Berkshire Hathaway disclosed Q2 and H1 2026 earnings via press release.
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On August 8, 2026, Berkshire Hathaway Inc. issued a press release announcing the Company’s earnings for the second quarter and first six months ended June 30, 2026.
Berkshire Hathaway announced its financial results for the second quarter and first half of 2026 ending June 30, 2026. The specific earnings figures, revenue, and other financial metrics are contained in the press release furnished as an exhibit, which is not included in the body of this 8-K filing.
Event · Exhibit 99.1
Berkshire Hathaway reported Q2 2026 net earnings of $25.7B, operating earnings of $13.0B, and repurchased $4.5B in shares.
Added in current filing · view on EDGAR →
Net earnings attributable to Berkshire shareholders $ 25,667 | $ 12,370 | $ 35,773 | $ 16,973 | Net earnings includes: | Investment gains (losses) | 12,684 | 4,970 | 11,444 | (68 ) Other-than-temporary impairment of investment in Kraft Heinz — | (3,760 ) | — | (3,760 ) | Operating earnings | 12,983 | 11,160 | 24,329 | 20,801
Berkshire reported Q2 2026 net earnings of $25.7 billion, up from $12.4 billion in Q2 2025. Operating earnings were $13.0 billion versus $11.2 billion year-over-year. The increase in net earnings was driven by $12.7 billion in investment gains, which included $10.9 billion in unrealized gains from equity securities and $1.8 billion in realized gains from investment sales.
Added in current filing · view on EDGAR →
Insurance-underwriting | $ 1,731 | $ 1,992 | $ 3,448 | $ 3,328 | Insurance-investment income | 3,059 | 3,367 | 5,738 | 6,260 | BNSF | 1,558 | 1,466 | 2,935 | 2,680 | Berkshire Hathaway Energy Company | 891 | 702 | 2,005 | 1,799 | Manufacturing, service and retailing | 4,470 | 3,601 | 7,669 | 6,661
Operating earnings across segments showed mixed performance. BNSF contributed $1.6 billion in Q2 2026 versus $1.5 billion in Q2 2025. Manufacturing, service and retailing generated $4.5 billion versus $3.6 billion year-over-year. Insurance underwriting declined to $1.7 billion from $2.0 billion, while insurance investment income decreased to $3.1 billion from $3.4 billion.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
Includes foreign currency exchange gains related to non-U.S. Dollar denominated debt in 2026 of $326 million in the second quarter and $575 million in the first six months and in 2025 includes foreign currency exchange losses of $877 million in the second quarter and $1.59 billion in the first six months.
Berkshire recorded foreign currency exchange gains of $326 million in Q2 2026 on non-U.S. dollar debt, contrasting with losses of $877 million in Q2 2025. These gains reflect favorable currency movements on the company's foreign-denominated borrowings.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 12, 2026 · How we verify