After more than three years of sitting on a massive cash pile, Berkshire Hathaway finally loosened up and found a stock worth buying — its own.
Berkshire Hathaway has started putting its enormous cash reserve to work under chief executive Greg Abel. The development offers the clearest sign yet of how capital allocation may evolve after Warren Buffett stepped down as CEO.
A highlight was the repurchase of $4.5 billion of shares in the second quarter. The figure was just $235 million in the first quarter
Berkshire's quarterly operating profit rose 16% to $12.98 billion, topping analyst forecasts.
In his second quarter as the new CEO of Berkshire Hathaway, Greg Abel did some serious spending, including $4.5 billion on buybacks.
In his waning years as Berkshire Hathaway's CEO, Warren Buffett was hoarding cash. The company had close to $400 billion on hand before Buffett retired earlier this year.
The stock market in 2026 has rewarded patience less than usual.
Berkshire Hathaway booked a near $13 billion gain on investments in the latest quarter, and has put $32 billion of its cash pile to work.
Strength across its energy, railroad and manufacturing businesses more than offset weaker insurance results.
The conglomerate struck a $6.8 billion deal, repurchased Berkshire shares and was a net buyer of other stocks, while more than doubling quarterly profits
Berkshire Hathaway investors are about to get an update this weekend on new CEO Greg Abel's latest moves.
Brazilian state-run oil firm Petrobras posted on Thursday a 96.8% jump in its second-quarter net profit from a year earlier.