BRK-B · 10-Q · 2026Q2

BERKSHIRE HATHAWAY INC

Filed 2026-08-10 · Financials · View original filing on EDGAR

Ranked Events

• Industrial Products GrowthImportance 73 · Surprise 66
  Industrial products revenue increased 27.3% to $12.2 billion in the second quarter and 25.5% to $23.3 billion in the first six months of 2026, primarily from acquisitions and growth in pre-existing businesses.…
• Investment Gains and Tax RateImportance 69 · Surprise 64
  Pre-tax investment gains were $16.077 billion in the second quarter and $14.472 billion in the first six months of 2026, compared with $6.364 billion and a $71 million loss, respectively, in 2025. Net unrealized…
• Pilot Revenue and EarningsImportance 69 · Surprise 64
  Pilot revenue increased $4.8 billion, or 47.7%, in the second quarter and $5.6 billion, or 27.5%, in the first six months of 2026, primarily because of higher fuel prices despite slightly lower volumes. Second-quarter…
• Revenue Performance and MixImportance 69 · Surprise 64
  Net earnings attributable to Berkshire shareholders increased to $25.667 billion in the second quarter of 2026 from $12.370 billion in the second quarter of 2025, and to $35.773 billion for the first six months from…
• Supply Chain And PricingImportance 68 · Surprise 58
  Lubrizol raised selling prices in response to significant increases in raw-material, energy, and supply-chain costs that began in late March 2026 and continued through the second quarter. Its revenues increased 11.1%…
• Outstanding IndebtednessImportance 64 · Surprise 42
  Excluding BHE and BNSF, Berkshire’s borrowings were $43.3 billion at June 30, 2026, including $20.4 billion of Berkshire debt and approximately $18.2 billion of BHFC senior notes. Berkshire issued ¥272.3 billion, or…
• Supply Chain Tariff ImpactImportance 61 · Surprise 66
  Brooks Sports and Jazwares benefited from trade tariff refunds received in the second quarter of 2026, contributing to higher first-half earnings. TTI’s first-half 2026 revenue increased 26.5%, partly because customers…
• Acquisition / Partnership / DivestitureImportance 59 · Surprise 60
  Berkshire acquired OxyChem from Occidental Petroleum Corporation on January 2, 2026, adding $2.6 billion of first-half revenue and $121 million of first-half pre-tax earnings to industrial products. OxyChem generated…
• GEICO Underwriting CostsImportance 59 · Surprise 48
  GEICO premiums earned increased 2.1% to $11.291 billion in the second quarter and 3.0% to $22.477 billion in the first six months of 2026. Losses and LAE increased 8.8% to $8.644 billion in the quarter and 10.1% to…
• FX / Currency HeadwindsImportance 57 · Surprise 64
  Foreign-currency gains on Berkshire and BHFC non-U.S.-dollar borrowings were $326 million after tax in the second quarter and $575 million in the first six months of 2026. These compared with after-tax losses of $877…
• Capital ExpendituresImportance 56 · Surprise 24
  Berkshire generated $21.7 billion of operating cash flow in the first six months of 2026. Consolidated capital expenditures for property, plant and equipment and equipment held for lease totaled $10.6 billion,…
• Liquidity and Cash PositionImportance 54 · Surprise 14
  Berkshire shareholders’ equity was $747.9 billion at June 30, 2026, up $30.5 billion from December 31, 2025. Insurance and other businesses held $359.2 billion in cash, cash equivalents, and U.S. Treasury Bills, net of…
• McLane Revenue and MarginsImportance 54 · Surprise 40
  McLane revenue declined 3.8% in the second quarter and 2.9% in the first six months of 2026 compared with 2025. First-half retail sales fell 8.9% because of lower volumes, net customer losses, and business-mix changes,…
• Manufacturing And CapacityImportance 54 · Surprise 40
  PCC reported aerospace and industrial gas turbine product sales growth in the first six months of 2026, supported by strong customer demand, higher prices, improved manufacturing efficiencies, and favorable product…
• BNSF Revenue and CostsImportance 54 · Surprise 40
  BNSF railroad operating revenues increased 14.6% to $6.562 billion in the second quarter and 9.8% to $12.521 billion in the first six months of 2026. First-half revenue growth reflected a 4.3% increase in car/unit…
• Electronics Demand and Lead TimesImportance 53 · Surprise 48
  TTI revenue increased 26.5% in the first six months of 2026, reflecting accelerating customer demand, favorable foreign currency translation and inventory cost-based price increases. Customers increased orders partly…
• Critical Accounting EstimatesImportance 50 · Surprise 24
  Unpaid property-and-casualty losses and loss-adjustment expenses totaled $152.9 billion at June 30, 2026, and small changes in the estimates could materially affect periodic earnings. Goodwill totaled $83.1 billion and…
• Consumer Products Margin DriversImportance 50 · Surprise 58
  Consumer products pre-tax earnings increased 12.2% in the second quarter and 19.1% in the first six months of 2026 compared with 2025. Brooks Sports and Jazwares benefited from higher sales and gross-margin rates and…
• Service Revenue and EarningsImportance 48 · Surprise 40
  Service group revenue increased $1.2 billion, or 21.1%, in the second quarter, and $2.1 billion, or 19.1%, in the first six months of 2026. First-half revenue increased 26.5% at TTI, 15.5% in aviation services, and…
• Insurance Investment IncomeImportance 43 · Surprise 32
  After-tax insurance investment income declined $308 million, or 9.1%, to $3.059 billion in the second quarter and $522 million, or 8.3%, to $5.738 billion in the first six months of 2026. Pre-tax interest and other…

Revenue by Product (in millions)