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Berkshire Hathaway Q1 Results: Warren Buffett's Berkshire Hathaway Inc announced its first quarter results on Saturday, May 3, reporting a lower operating profit in the first quarter, hurt by weaker results from its insurance operations, while its cash pile continued to grow.

Operating profit for the Omaha, Nebraska-based conglomerate dropped 14.1% to $9.64 billion, just over one-third of last year's profit from $11.22 billion a year earlier.

The profit numbers were weighed down by a major drop in the value of its investments and $860 million in insurance losses related to policies that Geico and its other insurance companies wrote before the devastating Southern California wildfires.

Berkshire said it earned $4.6 billion, or $3,200 per Class A share, in the first quarter. That's down from $12.7 billion, or $8,825 per Class A share, last year.

Investors are looking for him to explain why Berkshire is now sitting on $347.7 billion cash as of the end of the first quarter, up from $334.2 billion at the end of the year. The growing cash pile is a reminder that Buffett hasn't found any investments at attractive prices lately, but the report doesn't show whether he bought anything in April when the market dropped after President Donald Trump's tariff announcement.

Berskhire's share price has so far weathered a turbulent period for markets, rising 18.9% this year while the Standard & Poor's 500 was down 3.3%.

Berkshire Hathaway owns dozens of companies, including Geico, BNSF railroad, a collection of massive utilities and an assortment of retail and manufacturing businesses including well-known brands like See's Candy.

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