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. Net earnings attributable to shareholders more than doubled to $10,106 million, helped by a smaller investment loss of $1,240 million. Market data show the shares closed about 1% lower in the session after the Saturday release.

• Q1 2026 operating earnings $11,346 million vs $9,641 million; insurance-underwriting $1,717 million vs $1,336 million
• BNSF $1,377 million vs $1,214 million; BHE $1,114 million vs $1,097 million; manufacturing, service and retailing $3,199 million vs $3,060 million
• Net earnings attributable to shareholders $10,106 million vs $4,603 million; Class A equivalent $7,027 per share
• Insurance float about $176.9 billion at March 31, 2026, up about $0.5 billion from year-end
• The release says quarterly investment gains or losses are usually meaningless