# BNSF
Latest news and articles about BNSF
Total: 2 articles found
A New Chapter at Berkshire: Greg Abel’s First Letter Signals Continuity—and Caution
Greg Abel’s first shareholder letter as Berkshire Hathaway CEO underscores continuity with Warren Buffett’s approach while acknowledging setbacks in 2025: net income fell year‑on‑year and operating profits were weighed down by insurance weakness and write‑downs. The company retains a massive cash reserve and a concentrated equity portfolio, leaving Abel the strategic choice of how and when to deploy capital.
Greg Abel’s First Letter: Berkshire’s Hand-Off Is Smooth, but Insurance Woes and a $373bn Cash Pile Pose Questions
Greg Abel’s first annual shareholder letter as CEO emphasised continuity as Berkshire Hathaway reported a drop in GAAP net profit to $66.97bn in 2025, while operating earnings fell to $44.49bn but remained above the five‑year average. Insurance underwriting weakness and a $4.5bn impairment offset steady performance from rail and energy units, leaving a $373.3bn cash reserve that poses both an opportunity and a challenge for future capital allocation.