BRK-B · 10-Q · 2026Q1 · Full report
Operating Cash Flow and Capex
BERKSHIRE HATHAWAY INC · 2026-05-04 · Importance 54 · Surprise 24 · In source text
The group generated net operating cash flows of $10.4 billion in Q1 2026 and reported consolidated capital expenditures of $5.0 billion in Q1 2026, of which $3.2 billion were from BNSF and BHE. BNSF and BHE maintain very large capital asset bases and regularly make significant capex investments in the ordinary course of business. Management forecasts BHE and BNSF capital expenditures of approximately $12.4 billion over the remainder of 2026. These forecasts indicate continued sizable near-term investment needs concentrated in the utilities/energy and railroad businesses.
Key facts
- BHE and BNSF forecast capital expenditures of approximately $12.4 billion over the remainder of 2026. source
- In the first quarter of 2026, Berkshire’s diverse group of businesses generated net operating cash flows of $10.4 billion. source
- Consolidated capital expenditures for property, plant and equipment and equipment held for lease were $5.0 billion in the first quarter of 2026, of which $3.2 billion was from BNSF and BHE. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | probable | -0.5% | BHE and BNSF forecast capital expenditures of approximately $12.4 billion over the remainder of 2026. |
| cash | negative | realized | -0.4% | Consolidated capital expenditures for property, plant and equipment and equipment held for lease were $5.0 billion in the first quarter of… |
| cash | positive | realized | — | In the first quarter of 2026, Berkshire’s diverse group of businesses generated net operating cash flows of $10.4 billion. |