Filing Flows › Berkshire Hathaway (BRK-B) › Q1 2026 › vs Q1 2025
Berkshire Hathaway (BRK-B) Q1 2026 vs Q1 2025 (year over year)
Berkshire Hathaway's revenue rose $4.0B (+4%) from $89.7B in Q1 2025 to $93.7B in Q1 2026. The biggest changes: Manufacturing Businesses +$1.9B (+10%); Service and Retailing Businesses +$849M (+8%); Pilot Travel Centers LLC +$807M (+8%). Operating margin 14.7% against 12.8% (+1.9 pts).
Berkshire Hathaway, Q1 2026: revenue $93.7B (+4% year over year), operating margin 14.7%, net earnings $10.2B, operating cash flow $10.4B. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.7% | 12.8% | +1.9 pts |
| Net margin | 10.9% | 5.2% | +5.7 pts |
| Free cash flow margin | 5.8% | 7.4% | -1.6 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Insurance Corporate and Other | $26.5B | $26.4B | $81.0M | +0.3% |
| Manufacturing Businesses | $20.6B | $18.8B | $1.9B | +10% |
| Mc Lane Company | $11.8B | $12.0B | −$257M | -2% |
| Pilot Travel Centers LLC | $11.2B | $10.4B | $807M | +8% |
| Service and Retailing Businesses | $11.0B | $10.1B | $849M | +8% |
| Berkshire Hathaway Energy Company | $6.7B | $6.3B | $314M | +5% |
| Burlington Northern Santa Fe Corporation | $6.0B | $5.7B | $266M | +5% |
| Revenue | $93.7B | $89.7B | $4.0B | +4% |
| Operating profit | $13.7B | $11.5B | $2.3B | +20% |
| Costs & expenses | $79.9B | $78.3B | $1.7B | +2% |
| Pre-tax earnings | $12.3B | $5.1B | $7.2B | +139% |
| Other expense, net | $1.4B | $6.3B | −$4.9B | -77% |
| Net earnings | $10.2B | $4.7B | $5.5B | +118% |
| Income tax | $2.1B | $476M | $1.7B | +350% |
| Depreciation & amortization | $3.5B | $3.3B | $245M | +8% |
| Working capital & other | $3.3B | −$3.0B | $6.2B | — |
| Operating cash flow | $10.4B | $10.9B | −$465M | -4% |
| Free cash flow (OCF − capex) | $5.5B | $6.6B | −$1.2B | -18% |
| Capital expenditures | $5.0B | $4.3B | $705M | +16% |
Questions
How much did Berkshire Hathaway's revenue grow year over year in Q1 2026?
Berkshire Hathaway's revenue rose $4.0B (+4%) from $89.7B in Q1 2025 to $93.7B in Q1 2026.
What drove Berkshire Hathaway's revenue change in Q1 2026?
Manufacturing Businesses +$1.9B (+10%); Service and Retailing Businesses +$849M (+8%); Pilot Travel Centers LLC +$807M (+8%).