Berkshire Hathaway reported $11.35 billion in operating earnings for the first quarter under CEO Greg Abel, marking a significant moment after Warren Buffett’s long tenure. The results reflect both growth and challenges as the company transitions leadership.
Key financial metrics:
- Operating earnings increased nearly 18% from last year but fell short of estimates at $11.56 billion.
- Net income attributable to shareholders rose to approximately $10.1 billion, more than double last year’s $4.6 billion.
- The cash pile reached over $397 billion in the first quarter.
- Berkshire earned $1.7 billion from insurance underwriting, a 28% increase from the same period last year.
- Geico reported a 34% drop in earnings despite the overall increase in insurance underwriting.
Greg Abel officially took over as CEO on January 1, 2026. Warren Buffett, who led Berkshire for six decades, attended the annual meeting and expressed confidence in Abel’s leadership.
Buffett stated, “Greg is doing everything I did and then some, and he’s doing it better in all cases.” He emphasized that Berkshire’s largest holding remains in Apple, which recently reported strong earnings with a 22% increase in iPhone sales compared to last year.
As Berkshire Hathaway navigates this transition, it faces uncertainties regarding future strategic directions under Abel’s leadership. The next quarterly report will provide further insights into how these changes impact overall performance.
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