)
Business Philosophy5 May 2025
Greg Abel: Succeeding Warren Buffett at Berkshire Hathaway
After decades working with Warren Buffett and Charlie Munger, Greg Abel was named Buffett’s successor as he steps down in late 2025.
Berkshire Hathaway
Berkshire Hathaway (BRKB) investor relations material
Berkshire Hathaway Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary28 Feb, 2026
Executive summary
Net earnings attributable to shareholders were $19.2 billion for Q4 2025 and $67.0 billion for the full year, compared to $19.7 billion and $89.0 billion in 2024, respectively.
Operating earnings for Q4 2025 were $10.2 billion, down from $14.5 billion in Q4 2024; full-year operating earnings were $44.5 billion, down from $47.4 billion in 2024.
Financial highlights
Net earnings per Class A share were $13,349 for Q4 2025 and $46,563 for the full year, compared to $13,695 and $61,900 in 2024.
Investment gains in 2025 included $9.6 billion in Q4 and $12.9 billion for the year from unrealized equity security gains.
After-tax realized gains on sales of investments were $3.9 billion in Q4 2025 and $17.8 billion for the year.
Outlook and guidance
Forward-looking statements caution that actual results may differ materially from forecasts.
Explain the 2025 insurance underwriting earnings decline
What caused the sharp drop in realized investment gains in 2025?
How did insurance float change in 2025?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Berkshire Hathaway earnings date
Q1 20262 May, 2026
Berkshire Hathaway
Next Berkshire Hathaway earnings date
Q1 20262 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
Edge29 Nov 2024
What Investors Get Wrong: Chris Mayer on Dividends, Noise, and the Power of Reinvestment
Chris Mayer challenges investor myths on dividends, market noise, and the reinvestment edge. A deep dive into long-term thinking.
)
Edge8 Nov 2024
Tasting Quality: Berkshire's Defining Bet on See's Candies
From Mary See's recipes to Berkshire's cherished asset, built on quality, brand loyalty, and timeless taste.
Frequently asked questions
The best-performing holding company of all time
Berkshire Hathaway is a holding company based in Omaha, Nebraska. It was founded in 1965 by the most iconic investor of all time, Warren Buffett. Berkshire Hathaway is mostly known for its long-term-oriented investment approach, with prominent focus on businesses with strong competitive advantages, led by honest people and great capital allocators. Some of the company's best investments have been Geico, American Express, Washington Post, Coca-Cola, and Apple.
Warren Buffet, the founder
Warren Buffett was born a little less than a year after Black Tuesday, on the 30th of August, 1930. He was extraordinarily mathematical and analytical as a child and counted everything that could be counted. He also loved collecting things – as you might have guessed, money above all.
Warren's father, Howard Buffett, operated his own stock brokerage firm in Omaha when Warren was little, and the office was, appropriately enough for Warren, filled with finance and investment books. By age ten, Warren had read every book in the library and thereby found the love of his life, compound interest, and investments.
After studying finance at Wharton and working a couple of years at the legendary hedge fund Graham-Newman in New York, Warren moved back to Omaha to start his own company, Buffett Partnership Ltd, which was the predecessor to Berkshire Hathaway. Warren began investing capital for friends, family, and neighbors through the partnership, which he continued doing for almost ten years with astonishing overperformance against the indices.
In 1965, Warren liquidated the partnership and instead began to manage capital through one of the subsidiaries, Berkshire Hathaway, which at the time was a textile company but which was now transformed into a holding company. Today, roughly 60 years later, Berkshire Hathaway is the best-performing holding company of all time and one of the largest companies in the world.
Performance
By investing in companies with strong competitive advantages, led by honest people and great capital allocators, and by focusing on long-term business performance rather than short-term stock price movements – Berkshire Hathaway has achieved remarkable returns since its inception. Between 1965 and 2021, Berkshire Hathaway's market value rose 3,641,613%, which corresponds to a compound annual growth rate (CAGR) of 20.1% for 56 years. During the same time, the S&P 500 rose 30,209%, corresponding to a CAGR of 10.5%.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage