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Operating Earnings

All articles tagged with #operating earnings

business2 years ago•3 min saved

Warren Buffett's Berkshire Hathaway: Record Cash Pile Amidst Investment Losses

Berkshire Hathaway, the conglomerate owned by Warren Buffett, reported a loss of $12.8 billion in the third quarter due to a decline in the paper value of its investments. However, the company's insurers performed well, contributing $2.4 billion to its operating profit. Berkshire's operating earnings, which exclude the value of its investments, increased by nearly 41% to $10.8 billion. The company's insurance unit benefited from low losses related to major catastrophes and improved profits at Geico. Berkshire's railroad and utility units saw a decline in profits, while the company repurchased $1.1 billion of its own stock. Buffett continues to hold a significant amount of cash and has not made any major investments or acquisitions this year.

via ABC News|

#berkshire-hathaway #business #insurers

business2 years ago•2 min saved

Berkshire Hathaway's Q3 Earnings Surge Amidst Market Volatility

Berkshire Hathaway reported a 40.6% increase in third-quarter operating earnings, reaching $10.761 billion, while its cash reserves hit a record high of $157.2 billion. Warren Buffett's conglomerate has been stockpiling cash due to a lack of attractive dealmaking opportunities. Berkshire has been investing in short-term Treasury bills yielding at least 5% and held $126.4 billion worth of such investments at the end of Q3. The company spent $1.1 billion on share buybacks during the quarter, bringing the nine-month total to around $7 billion. Geico, Berkshire's insurance subsidiary, reported underwriting earnings of $1.1 billion, while BNSF, the railroad division, saw a 15% decline in earnings. Berkshire also posted a significant investment loss of $24.1 billion, largely due to a decline in its Apple stake. The company acknowledged the negative economic impact of the pandemic, geopolitical risks, and inflation pressures on its operating businesses.

via CNBC|

#berkshire-hathaway #business #cash-pile