Berkshire Hathaway Reports 18% Operating Profit Growth
Berkshire Hathaway held its annual shareholders meeting in Omaha, Nebraska, on May 2, 2026, with new CEO Greg Abel leading for the first time. Attendance dropped significantly compared to past years, and the company reported strong first-quarter results including an 18% rise in operating profits. Warren Buffett, now chairman, praised Abel's performance during the event.
cnbc.comOMAHA, Nebraska — Berkshire Hathaway's annual shareholders meeting unfolded on May 2, 2026, with new CEO Greg Abel taking the lead for the first time in Omaha, Nebraska. Shareholders began lining up at midnight outside the arena, but Attendance filled just over half the 18,000- to 19,750-seat venue, down from prior years' overflows exceeding 40,000.
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The event kicked off with a video tribute to Warren Buffett, featuring a clip of him receiving a standing ovation at the previous year's meeting after announcing his step down.
Greg Abel announced the retirement of jerseys bearing Warren Buffett's and Charlie Munger's names, set to hang in the arena rafters. He also recognized Apple CEO Tim Cook's attendance, noting that Berkshire's initial $35 billion investment in Apple had grown to $185 billion as of the meeting. Tim Cook received a longer round of applause than Buffett when introduced.
Abel, who has been with Berkshire Hathaway for more than 25 years, had managed all noninsurance businesses for nearly eight years before his promotion to CEO. Buffett gave up the CEO title in January 2025, while Charlie Munger died in 2023. In past years, more than 40,000 people attended these meetings, often dubbed the Woodstock for Capitalists.
This year's exhibit hall spanned 200,000 square feet, showcasing products from Berkshire-owned companies, with Lines and crowds were shorter than in previous years, with the exhibit hall still spanning 200,000 square feet. Signs of transition appeared throughout, including a caricature of Abel playing hockey on See’s Candy boxes and a Squishmallow version of him alongside Buffett and Munger dolls.
Berkshire Hathaway reported an 18% increase in operating profit for the first quarter of 2026.
34 billion in the first quarter of 2025. The conglomerate owns major insurers like Geico, utilities including Pacificorp, and the BNSF railroad. 8 billion gain on stocks sold.
The company was a net seller of stocks in the quarter, with around $24 billion in sales. Profits also grew at BNSF railroad and Berkshire’s utility and manufacturing companies. 5% from December 31, 2025.
0% from the end of 2025. The company resumed stock buybacks on March 4, 2026, after an almost two-year pause, purchasing the equivalent of 309 Class A shares worth roughly $226 million that day.
In total, Berkshire bought back $234 million of stock in March 2026, with no significant repurchases in the first two weeks of April 2026. During the meeting, Abel addressed questions about the company's structure, replying 'Absolutely not' when asked if Berkshire would break up.
On artificial intelligence, Abel stated, 'We're not going to do AI for the sake of AI,' while noting that Berkshire is using AI to solve problems at its companies.
Jain added that AI won't be able to tell which stocks to buy or sell. Abel has made administrative changes since becoming CEO, establishing a team to support him. CEOs of Dairy Queen, See’s Candy, Jazwares, and Brooks Running now report to NetJets CEO Adam Johnson, who oversees 32 retail and service businesses.
Abel emphasized maintaining Berkshire's culture, allowing subsidiary CEOs to run day-to-day operations while consulting headquarters on major investments. Abel opened the meeting with a detailed discussion of business performance, providing granular explanations of insurers, railroad, and utilities. 24.
Berkshire's market capitalization stood at $1,020,622,694,116. Abel has been on stage next to Buffett at annual meetings for several years prior to 2026. Investors noted the meeting focused more on business operations, with Abel known as a demanding boss who challenges CEOs to strengthen competitive advantages.
Shareholders like investor Chris Bloomstran said the event remains a business meeting to hear about company performance. Others, such as Bob Robotti, attended to network with value investors, expecting consistency from Berkshire's leadership. CEOs like Brooks Running's Dan Sheridan stated the transition to Abel is rooted in Buffett's values.
Dairy Queen CEO Troy Bader noted Berkshire is as strong as ever with Buffett still involved, allowing Abel and Buffett to work together. Robotti emphasized that business performance matters more than entertainment value, hoping for competent leaders over public speakers. Abel will continue building on the foundation Buffett established over 60 years.
Transparency
Clean, fact-driven rewrite focused on business performance and transition details with minimal inherited framing.
The same facts show a disciplined, stable transition with record cash, strong profit growth, and a deliberate approach to technology that prioritizes long-term value over hype.
3 independent outlets report the same core facts. This score blends how many outlets corroborate, their editorial tier, and how closely their facts agree — it measures corroboration, not proof.
Sources framed at 65 → our rewrite 18. We stripped 47 points of framing the sources carried in.
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