Berkshire Moves Ahead With Nearly $10B OxyChem Deal

Berkshire Hathaway reported third-quarter operating earnings of $13.5 billion, up 34% year‑over‑year, driven by higher insurance underwriting income and gains at BNSF and its manufacturing, services and retailing businesses. Net income, including investment results, rose to about $30.8 billion while revenue growth slowed to roughly 2%. The conglomerate's cash and short‑term Treasury holdings swelled to a record roughly $381.7–$382 billion as the company again abstained from share buybacks. Warren Buffett’s team were net sellers during the quarter — filings show roughly $6.4 billion of purchases against larger sales (other reports put sales near $6.1 billion). This was Buffett’s penultimate quarterly report ahead of his planned year‑end step down, and Berkshire moved ahead with deals including a nearly $10 billion acquisition of Occidental Petroleum’s OxyChem business.