Berkshire Q3 operating earnings rise 34% to $13.5B; insurance underwriting strong

BERKSHIRE HATHAWAY INC

Q3 2025 net earnings $30.8B ($21,413/Class A share), up from $26.3B in Q3 2024.
Operating earnings (ex-investment gains) Q3 $13.5B vs $10.1B; insurance-underwriting $2.37B vs $0.75B.
9M 2025 operating earnings $34.3B, up 4% from $32.9B; includes $3.76B Kraft Heinz impairment.
Insurance float rose $5B to $176B since year-end 2024; BNSF earnings modestly higher at $1.45B.
9M net earnings $47.8B vs $69.3B, as 2024 had $76.5B realized investment gains.

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