Berkshire Hathaway BRK earnings Q2 2025

Berkshire Hathaway on Saturday reported a small decline in second-quarter working earnings as Warren Buffett’s conglomerate warns of adverse impacts from steep U.S. tariffs.

Berkshire’s working revenue — these from the corporate’s wholly owned companies together with insurance coverage and railroads — dipped 4% 12 months over 12 months to $11.16 billion within the second quarter. The outcomes had been impacted by a decline in insurance coverage underwriting, whereas railroad, vitality, manufacturing, service and retailing all noticed greater income from a 12 months in the past.

The Omaha-based conglomerate as soon as once more issued a stern warning of President Donald Trump’s tariffs and the potential influence on its numerous companies.

“The tempo of modifications in these occasions, together with tensions from growing worldwide commerce insurance policies and tariffs, accelerated by means of the primary six months of 2025,” Berkshire mentioned in its earnings report. “Appreciable uncertainty stays as to the final word consequence of those occasions.”

“It’s fairly potential there might be adversarial penalties on most, if not all, of our working companies, in addition to on our investments in fairness securities, which may considerably have an effect on our future outcomes,” it mentioned.

Buffett’s money hoard fell barely to $344.1 billion, from the $347 billion stage on the finish of March.

The conglomerate did not repurchase any inventory within the first half of 2025 at the same time as shares declined greater than 10% from a report excessive.

In Might, the 94-year-old “Oracle of Omaha” introduced that he is stepping down as CEO on the finish of 2025 after experiencing the bodily results of growing older. Greg Abel, Berkshire’s vice-chairman of non-insurance operations, is about to take over as CEO, whereas Buffett will stay as chairman of Berkshire’s board.

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