From Yahoo Finance: 2025-05-03 08:08:00

Warren Buffett’s Berkshire Hathaway saw a lower operating profit in Q1 due to insurance losses from wildfires and currency changes. Cash stake rose to $347.7 billion. Net income dropped 64% to $4.6 billion, with unrealized losses on stock holdings. Berkshire repurchased no stock and was a net seller of stocks.

Insurance claims from wildfires caused $1.1 billion in losses, cutting overall net income from insurance by nearly half. Geico improved, with car insurance profit up 13%. Currency-related losses were $713 million. Buffett, 94, leads Berkshire Hathaway, a conglomerate with diverse businesses.

Berkshire shares outperformed the market in 2025, viewed as a safe haven from economic disruptions. BNSF railroad’s profit rose 6%, with higher consumer product volumes. Berkshire Hathaway Energy’s profit grew 53%. Manufacturing, service, and retail businesses saw a 1% profit drop. Car dealerships did well, while retail struggled with competition and sluggish demand.

Read more: Wildfires dent Berkshire’s profit; cash soars to $347.7 billion