Berkshire Hathaway (BRK-B) Earnings: Q3 2026 Results

Berkshire Hathaway has reported a newer quarter since these figures. Everything below is for Q3 2026, the quarter ended September 30, 2026.

The quarter ended September 30, 2026 and Berkshire Hathaway published the results on November 7, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Berkshire Hathaway's earnings release reports earnings, not revenue. Revenue on this page is total revenues from Berkshire's Form 10-Q, and the segment rows are business-segment revenues from Note 24 of the 10-Q. They sum to $104,899 million for the operating businesses, with $748 million more in corporate, eliminations and other.
• EPS on this page is net earnings per average equivalent Class B share. A Class B share is 1/1,500th of a Class A share, and net earnings per average equivalent Class A share were $15,502, against $21,413 a year earlier.
• OxyChem (acquired January 2, 2026) and Taylor Morrison Home Corporation (acquired July 24, 2026) are included in the manufacturing segment from their acquisition dates.

Source: Berkshire Hathaway Q3 2026 earnings release, November 7, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Berkshire Hathaway splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Berkshire Hathaway's Insurance (premiums earned and investment income) revenue was $25.8 billion in Q3 2026, down 2% from $26.2 billion in Q3 2025, 24% of total revenue.
• Berkshire Hathaway's BNSF revenue was $6.9 billion in Q3 2026, up 15% from $6.0 billion in Q3 2025, 7% of total revenue.
• Berkshire Hathaway's BHE revenue was $7.8 billion in Q3 2026, up 6% from $7.3 billion in Q3 2025, 7% of total revenue.
• Berkshire Hathaway's Manufacturing revenue was $24.0 billion in Q3 2026, up 20% from $20.0 billion in Q3 2025, 23% of total revenue.
• Berkshire Hathaway's Service and retailing revenue was $12.0 billion in Q3 2026, up 13% from $10.6 billion in Q3 2025, 11% of total revenue.
• Berkshire Hathaway's McLane revenue was $12.3 billion in Q3 2026, down 7% from $13.2 billion in Q3 2025, 12% of total revenue.
• Berkshire Hathaway's Pilot revenue was $16.1 billion in Q3 2026, up 48% from $10.9 billion in Q3 2025, 15% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues from each quarter's Form 10-Q, and net earnings per average equivalent Class B share from each quarter's earnings release, which Berkshire publishes on a Saturday. Q4 2025 revenue is the 2025 Form 10-K annual total ($371,444 million) minus the nine-month total ($277,212 million); its EPS of $8.90 is from the Q4 2025 release. Quarterly EPS swings mostly with unrealized gains and losses on Berkshire's equity holdings.

We do not hold a confirmed date for Berkshire Hathaway's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 7, 2026

Berkshire Hathaway reported total revenues of $105,647 million in Q3 2026, against $94,972 million a year earlier. By business segment, manufacturing brought in $24,001 million, Pilot $16,145 million, McLane $12,327 million, service and retailing $11,979 million, BHE $7,770 million and BNSF $6,917 million. The insurance businesses earned $25,760 million of premiums and investment income. (Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

Two acquisitions added revenue. Berkshire bought OxyChem from Occidental Petroleum on January 2, 2026, for approximately $9.4 billion, and Taylor Morrison Home Corporation (TMHC) on July 24, 2026, for $72.50 per share in cash, approximately $6.8 billion in total. Both sit in the manufacturing segment. Industrial products revenue rose $2.7 billion (28.8%) to $12.2 billion, primarily from business acquisitions, and revenue of the homebuilding businesses, Clayton Homes and TMHC, rose 41.4% to $4.7 billion. (Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

Pilot's revenues rose $5.3 billion (48.4%), which Berkshire attributed primarily to higher fuel prices, while retail fuel volumes increased slightly. BNSF's railroad operating revenues rose 14.7% to $6,870 million: car/unit volumes increased 3.9% and average revenue per car/unit 10.5%, primarily from higher fuel surcharge revenue and higher yield. McLane's revenues declined 6.5%, primarily due to lower retail business sales. (Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

In insurance, GEICO's premiums earned rose $141 million (1.3%) to $11,405 million, while premiums written declined $30 million (0.3%), as growth in policies-in-force was offset by lower average premiums per policy. Pre-tax net investment income of the insurance businesses fell 10.7% to $3,319 million, primarily from lower interest income as short-term interest rates fell. (Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

Berkshire Hathaway's net earnings per average equivalent Class B share were $10.33 in Q3 2026, against $14.28 a year earlier. Net earnings attributable to Berkshire shareholders of $22,112 million included $9,407 million of after-tax investment gains, mostly on equity securities: $7.7 billion from changes in unrealized gains and $1.7 billion of realized gains on sales. Berkshire's release calls the amount of investment gains in any given quarter usually meaningless. (Berkshire Hathaway Q3 2026 earnings release, Nov 7, 2026)

Berkshire's non-GAAP measure is operating earnings, which excludes investment gains and losses, impairments of goodwill and intangible assets and other-than-temporary impairments of equity method investments. Operating earnings were $12,705 million, down from $13,485 million. Insurance underwriting fell to $1,352 million from $2,369 million and insurance investment income to $2,734 million from $3,181 million, while BNSF rose to $1,729 million, Berkshire Hathaway Energy to $1,612 million and manufacturing, service and retailing to $4,042 million. Other included $343 million of foreign currency exchange losses on non-U.S. Dollar debt, against gains of $331 million a year earlier. (Berkshire Hathaway Q3 2026 earnings release, Nov 7, 2026)

Berkshire acquired approximately $9.6 billion of its own shares in Q3 2026, bringing the nine-month total to about $14.4 billion. Average equivalent Class B shares outstanding were 2,139,557,257, against 2,157,335,139 a year earlier. The consolidated effective income tax rate was 18.3%, against 19.0% in Q3 2025. (Berkshire Hathaway Q3 2026 earnings release, Nov 7, 2026; Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Berkshire Hathaway's earnings release contains no outlook. It summarizes earnings, urges investors and reporters to read the 10-Q, and says the limited information in the release is not adequate for making an informed investment judgment. (Berkshire Hathaway Q3 2026 earnings release, Nov 7, 2026)

Gregory E. Abel succeeded Warren E. Buffett as Chief Executive Officer effective January 1, 2026, and major capital allocation and investment decisions are his responsibility, according to the 2025 Form 10-K. At September 30, 2026, Berkshire's insurance and other businesses held $336,735 million of short-term investments in U.S. Treasury Bills, including $20.5 billion of unsettled purchases, and $36,034 million of cash and cash equivalents. (Berkshire Hathaway Form 10-K, 2025, Mar 2, 2026; Berkshire Hathaway Form 10-Q, Q3 2026, Nov 9, 2026)

A consensus figure is the average of the models published by the analysts who cover Berkshire Hathaway, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Berkshire Hathaway's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning BRK-B is on is BRK-B a buy or a sell?, what analysts expect next is on the BRK-B forecast, and what the company does is on the Berkshire Hathaway (BRK-B) stock page.

Every number on this page can be traced to a document Berkshire Hathaway published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.