Berkshire Hathaway (NYSE:BRK.B) Gains 2.7% With Buyback Estimate Driving Sentiment Despite Portfolio Growth

BRK.B hovered around $510.57 late on Tuesday, July 28, gaining nearly 2.7% for the session. Shares of Class A approached $765,699, also climbing close to 2.7%. Analysts attributed part of the advance to strength in Apple and Coca-Cola. Barron’s Both share classes remain about 1.4% to 1.6% above their closing values at the end of last year. The S&P 500 is up around 8.6% in 2026, excluding dividends. That leaves Berkshire lagging the benchmark by approximately seven percentage points for the year. MacroTrends

As of July 29, Berkshire had yet to announce an official second-quarter release date. Its latest update on the news page was the July 24 acquisition notice. Berkshire Hathaway In the prior year, second-quarter earnings were published Saturday, August 2, following a notification on July 30. Berkshire Hathaway Outside sources list conflicting dates, with some reporting August 7 and others August 11. Consensus forecasts point to approximately $5.24 per Class B share. Zacks Berkshire focuses on operating earnings, noting that portfolio marks may impact reported GAAP results. The release date and consensus estimate remain unconfirmed. Berkshire Hathaway

Operating earnings for the first quarter climbed 17.7% to $11.35 billion, up from $9.64 billion. Reported net earnings surged to $10.11 billion, more than double the previous figure. Portfolio valuation fluctuations made the year-on-year comparison particularly volatile. Insurance underwriting, BNSF, energy, and the manufacturing-service-retailing sector all recorded gains. Meanwhile, earnings from “Other” soared to $1.26 billion from $41 million, largely due to a $962 million foreign-exchange impact. While underlying results improved, the headline figures overstate the overall momentum. Berkshire Hathaway

GEICO reported a 34.8% drop in first-quarter pre-tax underwriting profit to $1.42 billion. Premiums earned were up 4.0%, while claims and operating expenses rose at a faster pace. The combined ratio deteriorated by 7.5 points, reaching 87.3% from 79.8%. The unit stayed strongly profitable for the quarter. After-tax earnings from total insurance underwriting climbed 28.5% to $1.72 billion. Both Berkshire Hathaway Primary Group and reinsurance units turned from losses to profits. For investors, loss trends are expected to be the key insurance focus in the second quarter. Berkshire Hathaway

As of March 31, gross consolidated cash, equivalents, and Treasury bills stood at $397.4 billion. Separately, Berkshire reported $373.5 billion net across its insurance and other business units. The gap reflects unsettled Treasury purchases and cash held within the railroad, utilities and energy segments. Berkshire Hathaway The balance as of March already included OxyChem’s approximately $9.7 billion acquisition. Taylor Morrison’s $6.8 billion equity buy completed on July 24. Berkshire Hathaway The precise current figure will be clear once second-quarter results are published. Liquidity still remains exceptionally high following the Taylor Morrison transaction.

Berkshire acquired Taylor Morrison at $72.50 a share, assigning the homebuilder an equity valuation of $6.8 billion. The deal puts the enterprise value at roughly $8.5 billion. Together, the businesses closed close to 23,000 site-built homes during 2025. Operations cover 21 states, 52 housing markets, and over 700 communities. Berkshire states this transaction positions the company as the fourth-largest U.S. homebuilder. Berkshire Hathaway However, the price paid for equity represents about 1.8% of its net liquidity as of March. The move is noted as significant for strategy, but not transformative for the balance sheet. Berkshire Hathaway

Berkshire’s first-quarter share buybacks were modest compared to its overall market capitalization. The company repurchased 33 Class A shares and 431,462 Class B shares, with total expenditure for the quarter reaching approximately $234 million. The average purchase price was $729,701 for Class A and $486.92 for Class B. Berkshire Hathaway On Tuesday, Class B shares were trading about 4.9% higher than the average price paid in the latest buyback. One market projection points to around $8.5 billion in second-quarter share purchases. Berkshire has not verified this number, so investors are advised to be cautious. Barron’s

Book value in March was roughly $337.15 per Class B equivalent share. At $510.57, Berkshire is valued at about 1.51 times its most recent book value. Berkshire Hathaway The stated GAAP price-to-earnings ratio is around 14.3. That figure may be misleading, as fluctuations in portfolio prices are reflected in net income. Berkshire Hathaway Projecting first-quarter operating earnings over twelve months results in an estimated multiple close to 24. Operating earnings were also bolstered by particularly positive foreign-currency impacts. As a result, the two valuation approaches highlight different perspectives. Berkshire Hathaway

BNSF reported a 13.4% increase in first-quarter net earnings, reaching about $1.38 billion. Railroad revenue was up 5.0%, and total freight volume climbed 2.2% year on year. Berkshire Hathaway Berkshire Hathaway Energy’s earnings rose 1.5% to approximately $1.11 billion. Earnings from manufacturing, service, and retailing operations rose 4.5% to $3.20 billion. Berkshire Hathaway Pilot recorded a pre-tax loss of $50 million in the quarter. Diversification in operations helped balance out the weaker performances in some areas. Not all major subsidiaries saw growth in this period. Berkshire Hathaway

Greg Abel took over as chief executive on January 1, with Warren Buffett staying on as chairman. According to Berkshire’s 10-K, Abel now handles key investment and capital allocation responsibilities. Berkshire Hathaway OxyChem’s $9.7 billion acquisition was completed on January 2, following an agreement reached in 2025. Berkshire Hathaway Taylor Morrison closed on July 24, adding $6.8 billion in equity value. The two deals combined for about $16.5 billion of purchases, or roughly 4.4% of Berkshire’s net liquidity in March. Activity remains apparent, but clear signs of a lasting strategic shift have yet to emerge. Berkshire Hathaway