Berkshire Hathaway (BRK.B), which wrapped up its final year under Warren Buffett’s leadership, reported Saturday that operating earnings for the fourth quarter totaled $10.2 billion, down 29.8% from last year, on weakness from its insurance business.
Last year’s operating earnings totaled about $44.5 billion, down 6% from the previous year. The Omaha, Nebraska-based conglomerate reported that net income fell to $19.2 billion from $19.69 billion a year earlier.
Berkshire earned $7.2 billion last year from insurance underwriting, a 19.5% drop from 2024. Berkshire’s insurance underwriting arm continues to be led by car insurer Geico, which has seen weaker customer retention due to broad rate increases