Berkshire Hathaway Earnings Decline in Buffett's Final Quarter

Operating earnings fell nearly 30% as insurance business struggled

Mar. 3, 2026 at 7:23am

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Berkshire Hathaway, the conglomerate led by Warren Buffett, reported a significant decline in its operating earnings for the fourth quarter of 2025. The 30% drop was largely attributed to weakness in Berkshire's insurance business unit.

Why it matters

As Buffett prepares to step down as CEO after decades at the helm, this earnings report provides insight into the current state of Berkshire Hathaway and the challenges the company may face under new leadership.

The details

Berkshire Hathaway's operating earnings for the fourth quarter totaled $6.7 billion, down from $9.4 billion in the same period a year earlier. The company cited underperformance in its insurance operations as a key driver of the decline.

  • Berkshire Hathaway reported its Q4 2025 earnings on February 28, 2026.

The players

Berkshire Hathaway

A conglomerate led by legendary investor Warren Buffett, with diverse business interests including insurance, railroads, energy, and manufacturing.

Warren Buffett

The chairman and CEO of Berkshire Hathaway, who is set to step down from his leadership role in the coming months after decades at the helm.

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What’s next

Investors and analysts will be closely watching Berkshire Hathaway's transition to new leadership in the coming months to see how the company navigates the challenges facing its insurance business and other operations.

The takeaway

Berkshire Hathaway's earnings decline in Buffett's final quarter as CEO underscores the need for a smooth transition to new leadership as the company faces headwinds in its core insurance segment and broader economic uncertainties.