Berkshire Hathaway buys back $9.6 billion of its own stock but its profits declined

Berkshire Hathaway repurchased $9.6 billion of its own shares in the third quarter, but overall profit fell by more than 28% as the value of its investments changed. The buyback activity may have slowed after Berkshire’s Class A stock surged above $878,000, surpassing the level it held before Warren Buffett outlined plans to retire at the May 2025 annual meeting. Buffett stepped down as chairman in September and handed the CEO role to Greg Abel in January. Berkshire’s cash pile grew to $377.4 billion in the quarter, up from $365.5 billion at end-June. Insurance results were pressured: GEICO underwriting profit fell to $1.35 billion from $2.37 billion a year earlier, amid declining premiums and rising claim costs.