Berkshire's operating profit — those from the company's wholly owned businesses including insurance and railroads — dipped 4% year over year to $11.16 billion in the second quarter. The results were impacted by a decline in insurance underwriting, while railroad, energy, manufacturing, service and retailing all saw higher profits from a year ago.

Berkshire’s latest earnings are in. The conglomerate is issuing a stark warning: Trump’s tariffs could hit your bottom line.

Warren Buffett’s Berkshire Hathaway on Saturday reported operating earnings for the second quarter fell 3.77% from the same time last year.