On Saturday, Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) reported fourth-quarter and full-year 2025 results that showed net earnings attributable to shareholders slipping to $66,968 million for the year from $88,995 million in 2024. The release landed alongside investor focus on new CEO Greg Abel‘s first letter and what a post-Warren Buffett era could mean for deploying more than $300 billion of cash.
According to Berkshire Hathaway’s earning report, net earnings of $19,199 million for the fourth quarter, slightly below $19,694 million a year earlier, while operating earnings fell to $10,200 million from $14,527 million. For the full year, operating earnings eased to $44,486 million versus $47,437 million in 2024, even as headline net income moved more sharply because of investment-related swings.
Investors also came into the weekend watching for revenue after expectations pointed to $92.91 billion for the quarter, down from $94.92 billion a year earlier, based on Benzinga Pro estimates cited in the preview. Berkshire has topped revenue expectations for more than four straight quarters, setting up another test of whether the company’s operating businesses can keep pace even when markets fluctuate.
Greg Abel’s Leadership Marks New Era
The Saturday release also served as a handoff moment: Greg Abel is now the CEO, and the annual shareholder letter is arriving without Buffett’s signature for the first time in decades. The market’s attention has been on whether Abel outlines a different playbook for Berkshire’s cash-heavy balance sheet, including the possibility of new deals, fresh equity buys, or even a dividend policy shift.
Portfolio decisions are part of that backdrop, with the preview pointing to a filing that signaled plans to sell Berkshire’s position in Kraft Heinz (NASDAQ:KHC). The same preview noted Berkshire has been trimming Apple Inc. (NASDAQ:AAPL) in recent quarters, leaving …