Manufacturing, service and retailing
Manufacturing, service and retailing earned $4.47 billion in the second quarter of 2026.
The numbers
What it is
This group covers Berkshire's industrial manufacturers, its food distributor McLane and its majority-owned Pilot Travel Centers. Its results follow the industrial and consumer cycle, and it is the largest revenue group in the company.
Why it matters to the stock. This group produces most of Berkshire's revenue, so its margins and volumes set the tone for operating earnings beyond insurance and utilities.
News
Berkshire Q2 operating earnings rise 16% to $12.98 billion; insurance underwriting falls 13%
Berkshire reported second-quarter 2026 operating earnings of $12.98 billion, up from $11.16 billion a year earlier, led by Manufacturing, service and retailing and BNSF.
Berkshire Q1 2026 operating earnings rise 18% to $11.3 billion; shares slip about 1% the next session
Berkshire reported first-quarter 2026 operating earnings of $11,346 million, up from $9,641 million a year earlier, led by insurance-underwriting, BNSF and BHE.