We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Berkshire Hathaway Q1 Earnings & Revenues Increase Year Over Year
Read MoreHide Full Article
Key Takeaways
Berkshire reports Q1 2026 operating earnings of $11.3B, up 17.7% year over year.
BRK.B growth is driven by insurance underwriting, railroad gains, and higher energy and service revenues.
Cash climbed 37.2% to $58.8B, while operating cash flow dipped 4.3% from last year.
Berkshire Hathaway Inc. (BRK.B - Free Report) delivered first-quarter 2026 operating earnings of $11.3 billion, which increased 17.7% year over year. The increase was due to higher earnings in Insurance-underwriting, BNSF, Berkshire Hathaway Energy Company, Manufacturing, service and retailing, and Other.
Berkshire Hathaway Inc. Price, Consensus and EPS Surprise
Revenues rose 4.4% year over year to $93.6 billion due to an increase in revenues in Insurance and Other and Railroad, Utilities, and Energy.
Costs and expenses increased 2.1% year over year to $80 billion, largely driven by a rise in costs and expenses in Insurance and Other and Railroad, Utilities and Energy.
Segment Performance
Berkshire’s Insurance and Other segment revenues increased 4.3% year over year to $81 billion in the reported quarter due to higher Insurance premiums earned, Sales and service revenues, and Leasing revenues.
Insurance underwriting produced operating earnings of $1.7 billion, which increased 30.8% year over year.
Railroad operating revenues rose 5% year over year to $5.9 billion, primarily due to increases in car/unit volume of 2.2% and average revenue per car/unit of 2.8%, resulting from business mix, core pricing gains and higher fuel surcharge revenues from higher fuel prices. Pre-tax earnings increased 13.5% in the first quarter of 2026 to $1.8 billion.
Operating earnings from the Railroad business increased 12.5% year over year to $2 billion.
Total revenues at Manufacturing, Service and Retailing increased 6.5% year over year to $54.8 billion. Pre-tax earnings increased 5.7% year over year to $4.2 billion.
In the first quarter of 2026, after-tax earnings from manufacturing, service and retailing businesses increased 4.5% year over year. Results among the numerous operations in the quarter were mixed, with overall earnings increases in the manufacturing and service businesses and lower earnings from the retailing businesses.
Financial Position
As of March 31, 2026, consolidated shareholders’ equity was $729.4 billion, up 1.4% from the level as of Dec. 31, 2025. At the end of the quarter, cash and cash equivalents and restricted cash were $58.8 billion, up 37.2% year over year.
Berkshire exited the first quarter of 2026 with a float of about $176.9 billion, which grew $500 million from Dec. 31, 2025.
Cash flow from operating activities totaled $10.4 billion in the reported quarter, down 4.3% from the year-ago period.
Zacks Rank
Berkshire Hathaway currently carries a Zacks Rank #4 (Sell).
Cincinnati Financial Corporation (CINF - Free Report) reported first-quarter 2026 operating income of $2.10 per share, which surpassed the Zacks Consensus Estimate by 8.8%. The bottom line improved significantly, from a loss of 24 cents to $2.10 per share year over year.
Total operating revenues for the quarter were $2.9 billion, reflecting a 12% year-over-year increase, though the figure missed the Zacks Consensus Estimate by 0.7%.
The Progressive Corporation’s (PGR - Free Report) first-quarter 2026 earnings per share of $4.96 beat the Zacks Consensus Estimate by 2.5%. The bottom line increased 6.7% year over year.
Operating revenues grew 8.2% year over year to $22.3 billion, driven by 8% higher net premiums earned, a 12.7% increase in net investment income, a 3.5% rise in fees and other revenues, and 13.5% higher service revenues. The top line missed the Zacks Consensus Estimate by 1.2%. Net premiums earned grew 8% to $20.9 billion. The reported figure beat the Zacks Consensus Estimate by 1.5%.
Selective Insurance Group (SIGI - Free Report) reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line, however, missed the Zacks Consensus Estimate by 0.5%. Net premiums written decreased 1% to $1.3 billion. The figure was on par with our estimate.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Shutterstock
Berkshire Hathaway Q1 Earnings & Revenues Increase Year Over Year
Key Takeaways
Berkshire Hathaway Inc. (BRK.B - Free Report) delivered first-quarter 2026 operating earnings of $11.3 billion, which increased 17.7% year over year. The increase was due to higher earnings in Insurance-underwriting, BNSF, Berkshire Hathaway Energy Company, Manufacturing, service and retailing, and Other.
Berkshire Hathaway Inc. Price, Consensus and EPS Surprise
Berkshire Hathaway Inc. price-consensus-eps-surprise-chart | Berkshire Hathaway Inc. Quote
Behind the Headlines
Revenues rose 4.4% year over year to $93.6 billion due to an increase in revenues in Insurance and Other and Railroad, Utilities, and Energy.
Costs and expenses increased 2.1% year over year to $80 billion, largely driven by a rise in costs and expenses in Insurance and Other and Railroad, Utilities and Energy.
Segment Performance
Berkshire’s Insurance and Other segment revenues increased 4.3% year over year to $81 billion in the reported quarter due to higher Insurance premiums earned, Sales and service revenues, and Leasing revenues.
Insurance underwriting produced operating earnings of $1.7 billion, which increased 30.8% year over year.
Railroad operating revenues rose 5% year over year to $5.9 billion, primarily due to increases in car/unit volume of 2.2% and average revenue per car/unit of 2.8%, resulting from business mix, core pricing gains and higher fuel surcharge revenues from higher fuel prices. Pre-tax earnings increased 13.5% in the first quarter of 2026 to $1.8 billion.
Operating earnings from the Railroad business increased 12.5% year over year to $2 billion.
Total revenues at Manufacturing, Service and Retailing increased 6.5% year over year to $54.8 billion. Pre-tax earnings increased 5.7% year over year to $4.2 billion.
In the first quarter of 2026, after-tax earnings from manufacturing, service and retailing businesses increased 4.5% year over year.
Results among the numerous operations in the quarter were mixed, with overall earnings increases in the manufacturing and service businesses and lower earnings from the retailing businesses.
Financial Position
As of March 31, 2026, consolidated shareholders’ equity was $729.4 billion, up 1.4% from the level as of Dec. 31, 2025. At the end of the quarter, cash and cash equivalents and restricted cash were $58.8 billion, up 37.2% year over year.
Berkshire exited the first quarter of 2026 with a float of about $176.9 billion, which grew $500 million from Dec. 31, 2025.
Cash flow from operating activities totaled $10.4 billion in the reported quarter, down 4.3% from the year-ago period.
Zacks Rank
Berkshire Hathaway currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Insurers
Cincinnati Financial Corporation (CINF - Free Report) reported first-quarter 2026 operating income of $2.10 per share, which surpassed the Zacks Consensus Estimate by 8.8%. The bottom line improved significantly, from a loss of 24 cents to $2.10 per share year over year.
Total operating revenues for the quarter were $2.9 billion, reflecting a 12% year-over-year increase, though the figure missed the Zacks Consensus Estimate by 0.7%.
The Progressive Corporation’s (PGR - Free Report) first-quarter 2026 earnings per share of $4.96 beat the Zacks Consensus Estimate by 2.5%. The bottom line increased 6.7% year over year.
Operating revenues grew 8.2% year over year to $22.3 billion, driven by 8% higher net premiums earned, a 12.7% increase in net investment income, a 3.5% rise in fees and other revenues, and 13.5% higher service revenues. The top line missed the Zacks Consensus Estimate by 1.2%. Net premiums earned grew 8% to $20.9 billion. The reported figure beat the Zacks Consensus Estimate by 1.5%.
Selective Insurance Group (SIGI - Free Report) reported first-quarter 2026 operating income of $1.69 per share, which missed the Zacks Consensus Estimate by 2.3%. The bottom line decreased 11% year over year.
Operating revenues of $1.4 billion increased 6.4% from the year-ago quarter’s level, driven primarily by higher net premiums earned and net investment income. The top line, however, missed the Zacks Consensus Estimate by 0.5%. Net premiums written decreased 1% to $1.3 billion. The figure was on par with our estimate.