Berkshire Hathaway repurchased $9.6 billion of stock in the third quarter and about $2 billion more in October, while cash fell to $356.9 billion. Quarterly operating profit declined 6% to $12.71 billion, as insurance profit fell 26%.
Berkshire Hathaway repurchased $9.6 billion of stock in the third quarter, following $4.8 billion in buybacks earlier in the year, and bought back about $2 billion more in the first four weeks of October. Cash and equivalents totaled $356.9 billion at September’s end, down from $380.2 billion at the end of March.
Quarterly operating profit fell 6% year over year to $12.71 billion, while net income declined 28% to $22.11 billion. Insurance profit dropped 26%; underwriting profit fell 43%, including a 45% pretax decline at Geico as accident losses and advertising spending increased. Revenue rose 11% to $105.65 billion.
BNSF profit increased 19% to $1.73 billion, and Berkshire Hathaway Energy profit rose 8% to $1.61 billion. Precision Castparts’ pretax profit increased 30%, while consumer-business results were mixed. Berkshire said considerable uncertainty remains about economic and geopolitical events, including tariffs and wars.
