Berkshire Hathaway’s Record $9.6 Billion Buyback Signals a New Era Under Abel
In a striking show of confidence in its own shares, Berkshire Hathaway announced on November 7, 2026, that it repurchased a record $9.6 billion worth of stock in the third quarter. That’s more than double the $4.5 billion spent in Q2 and marks the largest single-quarter buyback in the company’s history. The move brings total 2026 buybacks to approximately $14.4 billion, a sharp reversal after nearly 22 months of paused repurchases.
The aggressive buyback comes despite a 5.8% decline in operating earnings, which fell to $12.7 billion in Q3, largely driven by a 43% drop in insurance underwriting profits. Geico, Berkshire’s flagship auto insurer, reported profits of $982 million, down from $1.77 billion a year earlier. Overall net earnings also fell 28% to $22.1 billion, weighed down by lower investment gains.
Still, the company—now led by CEO Greg Abel following Warren Buffett’s transition—continues to hold a war chest of approximately $357 billion in cash and short-term securities. Railroad (BNSF), energy, and industrial divisions all posted year-over-year earnings growth, providing a stabilizing counterpoint to the insurance headwinds.
Wall Street largely interpreted the record buyback as a bullish signal: management appears to view Berkshire’s own shares as the most compelling investment available today.
Source: CNBC – Berkshire Hathaway more than doubles buybacks in third quarter as earnings decline