Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) has just dropped a blockbuster: operating earnings increased 34% in the third quarter, with insurance profits surging.
As 95-year-old Warren Buffett hands off the crown, Berkshire snaps up OxyChemâits biggest swing since 2022.
Earnings Pop Big
The Omaha-based companyâs operating earnings increased 33.6% to $13.49 billion in the latest quarter.
According to the Berkshire report, the gain was largely driven by a 216% jump in insurance-underwriting profit, which came in at $2.369 billion for the third quarter, down from $750 million a year prior.
Insurance-investment income fell 13.18% to $3.181 billion.
As of September 30, the insurance float was approximately $176 billion, an increase of $5 billion since year-end 2024.
Net earnings attributable to Berkshire shareholders in the quarter under review totaled $30.796 billion, higher than $26.251 billion a year ago.
There were no share repurchases in the first nine months of 2025.
Berkshireâs shareholdersâ equity at September 30, was $698.2 billion, an increase of $48.8 billion since December 31, 2024.
As of September 30, 2025, Berkshire Hathawayâs equity portfolio remained heavily concentrated, with five companies:
- American Express Company (NYSE:AXP)
- Apple Inc. (NASDAQ:AAPL)
- Bank of America Corporation (NYSE:BAC)
- Coca-Cola Company (NYSE:KO)
- Chevron Corporation (NYSE:CVX)
These five companies accounted for 66% of total equity holdings at the end of the third quarter, lower than 71% as of December 2024.
Succession Hand Off
At 95, Buffett is handing off the CEO baton at year-end after six storied decades.
Greg Abel takes the helm while Buffett stays as chairâand Abel starts penning the annual letters in 2026.
In October 2025, Berkshire agreed to acquire the Occidental Petroleum Corporationâs chemicals business for $9.7 billion, subject to customary purchase price adjustments.
The acquisition is subject to regulatory approvals and customary closing conditions and expected to close in the fourth quarter of 2025.
The transaction is Berkshireâs biggest move since its $11.6 billion purchase of insurer Alleghany in 2022, reports CNBC.
The company said its insurance and other businesses held $354.3 billion in cash, cash equivalents and U.S. Treasury bills, net of unsettled purchase payables, while investments in equity and fixed-maturity securities totaled $301.2 billion, excluding equity-method holdings.
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