Quarterly ResultMay 4, 2026, 06:12 AM
Berkshire Hathaway Q1 Net Earnings +120% to $10.1B; Acquires OxyChem for $9.5B
AI Summary
Berkshire Hathaway reported a substantial increase in net earnings for the first quarter of 2026, more than doubling to $10.11 billion, alongside a 4.4% rise in total revenues to $93.68 billion. The company also completed the acquisition of Occidental Petroleum's chemicals business, OxyChem, for approximately $9.5 billion. This quarter saw a significant reduction in investment losses compared to the prior year.
Key Highlights
- Acquired Occidental Petroleum's chemicals business (OxyChem) for $9.5 billion.
- Net earnings attributable to Berkshire shareholders surged 120% to $10.11 billion.
- Total revenues increased 4.4% to $93.68 billion.
- Net earnings per average equivalent Class A share rose 120% to $7,027.
- Insurance and Other segment revenues grew 4.3% to $81.05 billion.
- Railroad, Utilities and Energy segment revenues increased 4.8% to $12.62 billion.
- Investment losses significantly reduced to $1.61 billion from $6.44 billion in Q1 2025.