Core Insights - Berkshire Hathaway Inc. reported second-quarter 2025 operating earnings of $11.2 billion, a decrease of 3.8% year over year, primarily due to lower earnings in insurance underwriting and other segments, although offset by higher earnings in insurance-investment income, BNSF, and Berkshire Hathaway Energy Company [1][8] Revenue and Expenses - Total revenues declined by 1.2% year over year to $92.5 billion, driven by lower revenues in Insurance and Other, as well as Railroad, Utilities, and Energy [2] - Costs and expenses decreased by 0.3% year over year to $79.4 billion, attributed to a decline in insurance losses, cost of sales and services, and interest expenses, which was lower than the estimated $97.3 billion [2] Segment Performance - Insurance and Other segment revenues fell by 1.2% year over year to $80.4 billion, impacted by lower sales and service revenues, but partially offset by higher insurance premiums and investment income [3] - Insurance underwriting earnings decreased by 12% year over year to $2 billion [3][8] - Railroad, Utilities, and Energy operating revenues decreased by 0.9% year over year to $12.1 billion, primarily due to lower freight rail transportation revenues, although pre-tax earnings from the Railroad increased by 11.5% to $1.8 billion due to lower operating expenses [4] - Total revenues in Manufacturing, Service, and Retailing decreased by 3.4% year over year to $53.4 billion, while pre-tax earnings increased by 4.7% to $4.6 billion [5] Financial Position - As of June 30, 2025, consolidated shareholders' equity was $670.3 billion, up 2.8% from December 31, 2024, with cash and cash equivalents at $96.2 billion, doubling from the end of 2024 [6] - Cash flow from operating activities totaled $21 billion in the reported quarter, down 13.1% from the previous year [6]
Berkshire Hathaway Q2 Earnings & Revenues Decline Year Over Year