Berkshire Hathaway reported a 30% decline in fourth-quarter operating profit to $10.2 billion on February 28, 2026. A 38% drop in income from insurance operations primarily drove the quarterly decrease. Full-year operating profit for 2025 fell 6.2% to $44.5 billion.
The report marks the first under CEO Greg Abel, who succeeded Warren Buffett in January 2026. Abel’s inaugural annual letter pledged to maintain Berkshire’s long-standing culture and values while paying tribute to Buffett.
The company recorded a $4.5 billion writedown on its investments in Occidental Petroleum and Kraft Heinz. Berkshire Hathaway concluded the year with a cash reserve of $373.3 billion.