Warren Buffett’s company’s profits improved 17% thanks to a relatively mild hurricane season and more paper investment gains this year as Berkshire Hathaway continues to prepare for the legendary 95-y

Berkshire Hathaway Inc.’s cash pile soared to $381.7 billion in the third quarter, a fresh record, and operating earnings surged 34% at Chief Executive Officer Warren Buffett’s conglomerate.

Warren Buffett will be at the helm of Berkshire for the fourth quarter as well, but given that the famed CEO plans to step down from his post at the end of the year, this marks the last earnings report from Berkshire that will be released during the Buffett era.

Berkshire Hathaway reported strong third-quarter earnings results on Saturday and its enormous cash holdings hit record levels.

Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive.

The conglomerate's cash stockpile soared to nearly $382 billion, a new record. Warren Buffett will step down as Berkshire's CEO at the end of the year. Here's our initial take on Berkshire Hathaway 's (NYSE: BRK.

Berkshire's operating profit generated from the conglomerate's wholly owned businesses including insurance and railroads jumped 34% in the third quarter.

The biggest thing on most investors’ minds right now is that Buffett Vice Chair Greg Abel is set to succeed him as CEO in January.