Berkshire Hathaway 4th-Quarter Profit Up 32 Percent
OMAHA, Neb. – Berkshire Hathaway reported a 32 percent jump in fourth-quarter earnings as its eclectic collection of subsidiaries mostly performed well.
The conglomerate based in Omaha, Nebraska, that Warren Buffett leads said Saturday that it earned $5.48 billion, or $3,333 per Class A share. That’s up from $4.16 billion, or $2,529 per Class A share, a year earlier.
The three analysts surveyed by FactSet expected Berkshire to report earnings per Class A share of $3,129.58 in the fourth quarter.
Berkshire’s insurance companies, which include Geico and General Reinsurance, recorded a $306 million underwriting profit, up from $191 million.
The company’s BNSF railroad and utility businesses also performed well as Berkshire’s revenue grew 7 percent to $51.8 billion.
Berkshire also released Buffett’s annual letter to shareholders Saturday.