Berkshire Hathaway said Saturday it accelerated its share repurchases during the third quarter, as operating and overall profits took a hit.
The Greg Abel-led conglomerate bought back $9.6 billion worth of Berkshire stock. That's more than double the $4.5 billion repurchased in the second quarter and brings the company's total buybacks for 2026 to about $14.4 billion.
The sharp increase came as Berkshire's operating earnings — those from wholly-owned businesses — fell year over year, as profits from its insurance business pulled back.
Berkshire operating profits totaled $12.705 billion, down 5.8% from $13.485 billion in the year-earlier period. Insurance underwriting tumbled 43% year on year to $1.352 billion, while insurance investment income declined 14% to $2.734 billion. Berkshire's railroad, energy and manufacturing businesses all saw earnings grow year over year.
The company's overall earnings, which include Berkshire's sprawling stock market portfolio, also dropped 28% in the third quarter to $22.112 billion from $30.796 billion a year prior. Investment gains for the company fell nearly 50% to $9.407 billion.