Berkshire Q3 Likely to Show Modest Earnings Growth, UBS Says

03:02 PM EDT, 10/22/2026 (MT Newswires) -- Berkshire Hathaway (BRK.A) is expected to benefit from its diversified earnings base in Q3 amid "attractive" share valuation, UBS said in a note Wednesday. For Q3, its non-insurance businesses are expected to offset weaker insurance underwriting results, leading to a modest year-over-year growth in operating earnings, the report said. At GEICO, the report pointed to normalization in underwriting profitability as the auto insurance market remains competitive, with loss trends outpacing pricing and premiums slowing down. Outside insurance, the note expects among others an operating income growth at BNSF Railway, and a strong performance at Berkshire Hathaway Energy. The report said the stock is trading at about 16 times earnings, including its substantial cash & equivalents, roughly in line with the S&P 500 Index, supporting its "attractive" valuation. UBS maintained its buy rating while raising its price target to $942,405 from $906,011.