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Corporate events
Filed after the FY2026 Q1 call day (May 7, 2026) through the next call day (Aug 11, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q1
Macro signals
↑FX↑Credit
Berkshire's first-quarter 2026 operating earnings rose to 11,346 from 9,641 a year earlier, up 17.68% year over year, driven by a rebound in insurance underwriting and higher earnings across most operating units. Insurance-underwriting operating earnings recovered to 1,717 from 1,336, BNSF rose to 1,377 from 1,214, and the Other line jumped to 1,260 from 41 as foreign currency exchange swung to gains of approximately $249 million from losses of approximately $713 million and interest and dividend income rose to $967 million from $869 million. The main offset was insurance-investment income, which slipped to 2,679 from 2,893. GAAP net earnings attributable to Berkshire shareholders more than doubled to 10,106 from 4,603 as investment gains (losses) improved to (1,240) from (5,038), though management again cautions that quarterly investment gains and losses are usually meaningless. Insurance float rose to approximately $176.9 billion, an increase of approximately $500 million since yearend 2025.
Key themes
7
positive📊 company
Operating Earnings Growth
Consolidated operating earnings rose to 11,346 from 9,641 in the prior-year first quarter, a broad-based advance led by insurance underwriting and steady non-insurance operating units.
Key financials
FY2026 Q1 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Net margin
FY2024 Q4
$94.92B
+1.6%
$9.13
-47.4%
20.7%
FY2025 Q1
$89.72B
-0.2%
—
—
5.1%
FY2025 Q2
$92.52B
-1.2%
—
—
13.4%
FY2025 Q3
$94.97B
+2.1%
—
—
32.4%
FY2025 Q4
$94.23B
-0.7%
$8.90
-2.5%
20.4%
FY2026 Q1Selected
$93.67B
+4.4%
—
—
10.8%
FY2026 Q2
$101.81B
+10.0%
—
—
25.2%
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“N/A: GAAP EPS meaningless per management; Net earnings per average equivalent Class B Share $4.68 (2026) vs $2.13 (2025)”
Revenue
“N/A: BRK-B GAAP revenue distorted by investment portfolio mark-to-market; operating earnings 11,346 (Q1 2026) vs 9,641 (Q1 2025)”
Guidance
“Berkshire never provides forward guidance”
Key metric
“Insurance float approximately $176.9 billion, an increase of approximately $500 million since yearend 2025”
Revenue GrowthMargin
positive📊 company
Net Earnings More Than Double
Net earnings attributable to Berkshire shareholders rose to 10,106 from 4,603, as investment gains (losses) improved to (1,240) from (5,038) a year earlier.
Capital AllocationMacroeconomic
positive📊 company
Insurance Underwriting Rebounds
Insurance-underwriting operating earnings rose to 1,717 from 1,336, recovering from the catastrophe-affected prior-year first quarter.
MarginRevenue Growth
negative📊 company
Insurance Investment Income Slips
Insurance-investment income fell to 2,679 from 2,893, a modest year-over-year decline that partly offset the underwriting rebound.
CreditMargin
positive📊 company
Railroad Earnings Improve
BNSF operating earnings rose to 1,377 from 1,214, contributing to the year-over-year gain in total operating earnings.
Revenue GrowthMargin
positive📊 company
Other Line Swings To FX Gains
The Other line rose to 1,260 from 41, driven by foreign currency exchange gains of $249 million versus losses of $713 million in 2025 and interest and dividend income of $967 million versus $869 million in 2025.
FXMacroeconomic
positive📊 company
Insurance Float Edges Higher
Insurance float rose to approximately $176.9 billion at March 31, 2026, an increase of approximately $500 million since yearend 2025, extending Berkshire's investable float base.
Capital AllocationCredit
Analyst Q&A
Earnings release only
Berkshire Hathaway holds no earnings call. Tellvest scores each quarter from its 8-K quarterly earnings release on an operating-earnings basis (GAAP results are dominated by unrealized equity mark-to-market). The annual shareholder meeting is available separately as a qualitative overlay.
CompanyFiscal year ends DecMost recent earnings call: Aug 11, 2026 (FY2026 Q2)Est. next earnings call: Nov 7, 2026
7/ 10
FY2026 Q1Positive+5.0 vs FY2025 Q4
Calendar quarter Q1 2026Earnings call May 7, 2026
FY2026 Q1 in brief
Berkshire's first-quarter 2026 operating earnings rose to 11,346 from 9,641 a year earlier, up 17.68% year over year, driven by a rebound in insurance underwriting and higher earnings across most operating units.
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
—
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for Berkshire Hathaway (BRK-B), FY2026 Q1: 7/10. Scores: Berkshire Hathaway’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: BRK-B daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Quarter
company-level, not the selected quarter
Operating earnings YoY +17.7% → base 7. BRK-B uses a custom rubric anchored to operating earnings (not GAAP revenue) because Berkshire reports only via annual press releases and its GAAP revenue is distorted by equity-portfolio mark-to-market. Bands: ≥20% → 8, 10–19% → 7, 1–10% decline → 4.
▸How this score was built
Base7Base 7Operating earnings YoY +17.7% → base 7. BRK-B uses a custom rubric anchored to operating earnings (not GAAP revenue) because Berkshire reports only via annual press releases and its GAAP revenue is distorted by equity-portfolio mark-to-market. Bands: ≥20% → 8, 10–19% → 7, 1–10% decline → 4.+Transcript0Transcript 0BRK-B custom rubric: discrete-quarter operating earnings 11,346 vs 9,641 = +17.68% YoY. Base 7 (10-19% growth band). Source: First Quarter 2026 Form 8-K Item 2.02 EX-99.1 earnings release (May 2, 2026). First two columns are the discrete quarter (Q1 has no YTD columns).+EPS0EPS 0Capital deployment (repurposed field): the release discloses no acquisitions or material buybacks; average equivalent Class A shares outstanding 1,438,124 (2026) vs 1,438,223 (2025) is essentially flat, indicating minimal repurchase activity. Steady state -> 0.+Guidance0Guidance 0Insurance performance (repurposed field): mixed. Insurance-underwriting operating earnings rose to 1,717 from 1,336 (a rebound off the catastrophe-affected 2025 quarter, not record profit), while insurance-investment income slipped to 2,679 from 2,893 and float grew only approximately $500 million to approximately $176.9 billion. No single material/record/significant positive; mixed -> 0. (BRK-B never provides forward guidance.)=Final7
How this score was built
Base7Base 7Operating earnings YoY +17.7% → base 7. BRK-B uses a custom rubric anchored to operating earnings (not GAAP revenue) because Berkshire reports only via annual press releases and its GAAP revenue is distorted by equity-portfolio mark-to-market. Bands: ≥20% → 8, 10–19% → 7, 1–10% decline → 4.+Transcript0Transcript 0BRK-B custom rubric: discrete-quarter operating earnings 11,346 vs 9,641 = +17.68% YoY. Base 7 (10-19% growth band). Source: First Quarter 2026 Form 8-K Item 2.02 EX-99.1 earnings release (May 2, 2026). First two columns are the discrete quarter (Q1 has no YTD columns).
539.82
465.40
9
2
7
Oct 25Oct 26
Mentions
Calendar Q1 2026
What BRK-B said about other companies on its FY2026 Q1 call, and what other companies said about BRK-B on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Berkshire has the monetary capability with $300-plus billion in cash plus they have the capability to invest in the railroad and they're going to be a strong competitor for us after.”
UNP notes Berkshire's ~$300B cash gives its BNSF unit ample capacity to invest and compete post-merger; a signal on Berkshire-backed rail competition.
“our market share is maybe 0.1% of what a Progressive or GEICO is right now”
+
EPS0EPS 0Capital deployment (repurposed field): the release discloses no acquisitions or material buybacks; average equivalent Class A shares outstanding 1,438,124 (2026) vs 1,438,223 (2025) is essentially flat, indicating minimal repurchase activity. Steady state -> 0.
+
Guidance0Guidance 0Insurance performance (repurposed field): mixed. Insurance-underwriting operating earnings rose to 1,717 from 1,336 (a rebound off the catastrophe-affected 2025 quarter, not record profit), while insurance-investment income slipped to 2,679 from 2,893 and float grew only approximately $500 million to approximately $176.9 billion. No single material/record/significant positive; mixed -> 0. (BRK-B never provides forward guidance.)
=
Final7
Show less
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Berkshire's first-quarter 2026 operating earnings rose to 11,346 from 9,641 a year earlier, up 17.68% year over year, driven by a rebound in insurance underwriting and higher earnings across most operating units
Arch Capital opened 2026 with operating EPS of $2.50 and a 15.4% annualized return on equity as an increasingly competitive market drove Insurance gross premiums written up only 2% and Reinsurance down 2.3%
The Hartford opened 2026 with core earnings of $866 million, or $3.09 per diluted share, and a trailing 12-month core earnings ROE of 20.3%
BRK-BBerkshire Hathaway
Score 7Rev YoY n/aTrend
Berkshire's first-quarter 2026 operating earnings rose to 11,346 from 9,641 a year earlier, up 17.68% year over year, driven by a rebound in insurance underwriting and higher earnings across most operating units
Arch Capital opened 2026 with operating EPS of $2.50 and a 15.4% annualized return on equity as an increasingly competitive market drove Insurance gross premiums written up only 2% and Reinsurance down 2.3%