Berkshire Hathaway earnings rise as CEO Greg Abel deploys Buffett's cash hoard
Berkshire Hathaway's quarterly earnings rose, with strength across its energy, railroad and manufacturing businesses offsetting weaker insurance results. New CEO Greg Abel is beginning to deploy the massive cash hoard built up under Warren Buffett.
Berkshire Hathaway reported rising profit for the last quarter, with strength in its energy, railroad and manufacturing businesses more than offsetting weaker results from its insurance operations.
CEO Greg Abel, who took over from Warren Buffett in January, is showing signs of finally putting the conglomerate's long-held record cash pile to work. Analysts say the shift could signal a more active investment posture under Abel's leadership.
The company also accelerated share buybacks during the quarter. Investors continue to watch closely how Berkshire's capital allocation strategy evolves in the post-Buffett era.
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