Berkshire Hathaway spent $4.5 billion on share repurchases in the second quarter, helping send its Class B shares up as much as 3.1% to their highest level since Warren Buffett announced his CEO departure in May 2025. Operating earnings climbed 16% to $12.98 billion, driven by $4.47 billion from manufacturing, service and retail businesses, while BNSF contributed $1.56 billion and Berkshire Hathaway Energy added $891 million. Insurance underwriting earnings fell to $1.73 billion and investment income slipped to $3.06 billion. The company's cash pile dropped to $364.7 billion from $380.2 billion as it poured $23.5 billion into stocks during the quarter, with at least another $10.1 billion going toward July buybacks and the Taylor Morrison acquisition. Net earnings more than doubled to $25.67 billion, though Berkshire emphasizes operating earnings as a cleaner measure due to stock-portfolio swings.
Berkshire Hathaway IncBerkshire spent $4.5B on buybacks and operating earnings rose 16%.
Taylor Morn HomeBNSF contributed $1.56B to operating earnings, up from prior.
