Filing Flows › Berkley W R (WRB) › Q3 2025
Berkley W R (WRB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Berkley W R (WRB) reported revenue of $3.8B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +3% from the quarter before. Operating margin was 17.2%, net earnings $512M (13.6% of revenue).
Berkley W R, Q3 2025: revenue $3.8B (+11% year over year), operating margin 17.2%, net earnings $512M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +3% | +11% |
| Operating profit | $648M | +24% | +37% |
| Net earnings | $512M | +28% | +40% |
| Operating cash flow | $1.1B | +62% | -8% |
What changed
Revenue was $3.8B in Q3 2025, up 11% year over year and up 3% from the previous quarter.
Operating profit was $0.65B, a 17.2% margin (up 3.2 points year over year). Of the extra revenue versus a year earlier, 47% reached operating profit, above the 14% margin then. Total costs grew 7% against revenue growth of 11%. Net earnings were $0.51B, up 40% year over year. The effective tax rate was 21.0%.
Operating cash flow was $1.1B (down 8% year over year), 223% of net earnings. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.61B.
Questions
What was Berkley W R's revenue in the third quarter 2025?
Berkley W R (WRB) reported revenue of $3.8B for the third quarter 2025 (Q3 2025), +11% from a year earlier and +3% from the quarter before.
Was Berkley W R profitable in the third quarter 2025?
Operating profit was $648M (17.2% of revenue) and net earnings $512M.
Source: Berkley W R 10-Q on SEC EDGAR.