Summary
Berkshire Hathaway Inc. (BRK-B) reported a robust third quarter and first nine months of 2025, demonstrating resilience and continued growth across its diverse business segments. Total revenues reached $94.97 billion for the third quarter and $277.21 billion for the first nine months, showing modest increases year-over-year, driven by strong performance in manufacturing, service, and retailing, alongside stable contributions from railroad, utilities, and energy. Net earnings attributable to Berkshire shareholders were $30.80 billion for the third quarter and $47.77 billion for the first nine months. While net earnings for the nine-month period saw a decline compared to the strong performance in the prior year, this was largely influenced by a significant non-cash impairment loss of $3.76 billion on the Kraft Heinz investment recognized in the second quarter. The company's insurance underwriting segment continued to perform well, with GEICO showing improved loss ratios and overall profitability. The balance sheet remains exceptionally strong, with total assets growing to $1.23 trillion and shareholders' equity reaching $700.44 billion as of September 30, 2025.
Financial Highlights
27 data points| Revenue | $94.97B |
| Operating Expenses | $79.14B |
| Interest Expense | $1.26B |
| Net Income | $30.80B |
Key Highlights
- 1Total revenues increased slightly to $94.97 billion in Q3 2025 and $277.21 billion for the first nine months of 2025.
- 2Net earnings attributable to Berkshire shareholders were $30.80 billion in Q3 and $47.77 billion for the first nine months, with the nine-month decline influenced by a significant Kraft Heinz impairment charge.
- 3Insurance underwriting segment demonstrated strong performance, with GEICO showing improved loss ratios and profitability, and BH Primary returning to profitability.
- 4The company's balance sheet remains exceptionally strong, with total assets growing to $1.23 trillion and shareholders' equity reaching $700.44 billion as of September 30, 2025.
- 5Cash, cash equivalents, and U.S. Treasury Bills held by insurance and other businesses totaled $354.3 billion, reflecting a continued focus on liquidity and financial strength.
- 6Berkshire announced a definitive agreement to acquire Occidental Petroleum's chemicals business (OxyChem) for $9.7 billion, expected to close in Q4 2025, signaling continued strategic investment.
- 7Significant legal proceedings, particularly those involving PacifiCorp related to wildfires and HomeServices related to antitrust claims, continue to be monitored, with ongoing appeals and settlements.