Berkshire Hathaway Sees Record $397B Cash Pile, Resumes $234M Buybacks
KHC•Berkshire Hathaway’s cash hoard climbed to a record $397 billion in Q1 after net equity sales of $8.1 billion, while operating earnings benefited from a 29% rise in underwriting profits to $1.7 billion. CEO Greg Abel also resumed buybacks, repurchasing $234.2 million in shares.
1. Record Cash Build
In Q1, Berkshire’s cash holdings surged to a record $397 billion after net equity sales of $8.1 billion, marking the highest level ever recorded under the new CEO’s tenure.
2. Underwriting Performance
Operating earnings gained from a 29% increase in insurance underwriting profits to $1.7 billion, although Geico’s pretax underwriting earnings fell 35% as it invested more to attract new clients.
3. Buybacks and Leadership
Greg Abel resumed share repurchases for the first time in over a year, buying back $234.2 million of stock, while the conglomerate’s shares have slid 5.9% YTD following the leadership transition.
