Berkshire: Buffett’s Final Call · Invest & Retire Community

Berkshire: Buffett’s Final Call

Berkshire Hathaway’s operating earnings improved to $14.4 billion in what marks Warren Buffett’s final earnings call as CEO.

Revenue grew 2% to $95.0 billion, while net earnings rose 17% to $30.9 billion.
The operating profit jump was driven almost entirely by the insurance underwriting business, where earnings more than tripled to $2.4 billion due to a mild catastrophe season.
Profit gains at BNSF (+5%) and manufacturing (+8%) also helped offset a 9% decline at Berkshire Hathaway Energy.
The cash hoard swelled to a new record of $382 billion, up from $344 billion in June.
Berkshire’s cautious stance continued, with no share buybacks for the fifth straight quarter and net equity sales of $6.1 billion.
The company has been a net seller of stocks for the 12th consecutive quarter.
With Buffett set to step down as CEO at year-end, successor Greg Abel’s first major move was announced just after Q3 closed: a $9.7 billion deal to buy OxyChem, signalling a new catalyst and the first significant deployment of the cash pile.