Berkshire Hathaway has 1st annual meeting without Warren Buffett
Summary
Berkshire Hathaway held its first annual meeting without Warren Buffett, who retired as CEO at the start of 2026. The company reported strong first-quarter earnings, with profits more than doubling compared to last year, driven by higher investment values and improved business operations.Key Facts
- Warren Buffett stepped down as CEO at the end of 2025; Greg Abel became CEO in January 2026.
- The 2026 first-quarter profit was $10.1 billion, more than double last year’s $4.6 billion.
- Earnings per Class A share rose from $3,200 to $7,027 year-over-year.
- Berkshire’s investment portfolio value lowered slightly to $288 billion.
- The company’s cash reserves increased to $397.4 billion by the end of the first quarter.
- Operating earnings, which exclude investment gains, grew from $9.6 billion to $11.3 billion.
- Berkshire’s insurance unit, including Geico, saw underwriting profits rise from $1.34 billion to $1.7 billion.
- Other businesses like BNSF railroad and utilities also reported higher profits.
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