Berkshire Hathaway to Report Q3 Earnings Nov. 7
Morningstar expects third-quarter operating earnings to rise in the mid-to-high single digits from a year earlier.
Updated on Nov. 3, 2026 in Public Companies
Berkshire Hathaway is scheduled to release its third-quarter 2026 earnings report on Nov. 7, with shares up 11% this year. Morningstar rates the stock 2 stars and sets a long-term fair value estimate of $510 for Class B shares.
Why it matters
Investors will be watching whether Berkshire's insurance businesses can sustain profits as pricing eases from record highs seen since the COVID-19 pandemic. The report also comes as the company navigates leadership change after Warren Buffett resigned as executive chair in September.
Berkshire reported $364.7 billion in cash and equivalents at the end of June 2026, with more than $320 billion uncommitted, alongside $177.5 billion in insurance float. Morningstar projects third-quarter operating earnings growth in the mid-to-high single digits, though the timing and deployment of the cash pile remain unclear.
The players
Berkshire Hathaway
Berkshire Hathaway is a diversified holding company led by CEO Greg Abel, with major insurance operations including Geico and Berkshire Hathaway Reinsurance Group.
Morningstar
Morningstar is an independent investment research firm that publishes fair value estimates and star ratings for publicly traded stocks.
Warren Buffett
Warren Buffett is the longtime chief executive of Berkshire Hathaway who built the company into one of the largest conglomerates in the United States.
Greg Abel
Greg Abel is the chief executive of Berkshire Hathaway, succeeding Warren Buffett in leading the company's operations and capital allocation.
The details
Morningstar expects weaker earned premium growth at Geico and Berkshire Hathaway Reinsurance Group, while expecting profitability at the reinsurance unit to stay strong given the lack of major catastrophes. It also expects decent volume growth at BNSF Railway in the quarter. Its valuation uses a 9% cost of equity and assumes Berkshire pays at least the 15% corporate alternative minimum tax.
Timeline
End of June 2026: Berkshire's cash and equivalents reached $364.7 billion.
September 2026: Warren Buffett resigned as executive chair of Berkshire Hathaway.
Nov. 7, 2026: Berkshire is scheduled to release its third-quarter 2026 earnings report.
Market Landscape
Insurance pricing has come down from the record highs reached after COVID-19, which pressures margins at large insurers such as Berkshire's Geico and reinsurance units. Berkshire's ability to hold profitability through this normalization will shape how investors compare it with other diversified insurers and holding companies.
Shareholders and prospective buyers of Berkshire stock will get fresh operating results on Nov. 7 that could shift the valuation debate around the company's 2-star rating. For U.S. investors holding the shares in retirement or brokerage accounts, the report may affect portfolio allocation decisions.
The takeaway
Berkshire's upcoming report will test whether its large cash reserves and insurance franchise can keep earnings steady as the pricing cycle turns. Investors comparing the stock with its $510 Morningstar fair value should watch the insurance segment results closely.
What happens next
Berkshire Hathaway releases its third-quarter 2026 earnings report on Nov. 7, which will show how its insurance and railway units performed against Morningstar's projections.
Further reading
For more on how major firms like this report results, browse our Public Companies coverage.
Source note: This article includes information reported by Morningstar.
