https://www.cnbc.com/2023/02/25/berkshire-hathaway-brk-earnings-q4-2022.html
Berkshire Hathaway’s working earnings fell throughout the fourth quarter as inflationary pressures weighed on the conglomerate’s companies.
Berkshire Hathaway’s working earnings totaled $6.7 billion within the fourth quarter of 2022, a launch learn Saturday. That’s down 7.9% from the year-earlier interval when earnings totaled $7.285 billion. Working earnings refers back to the complete earnings produced from the companies owned by the conglomerate.
For the yr, the conglomerate’s working earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.
In the meantime, Berkshire used $2.855 billion to purchase again shares within the fourth quarter. That’s decrease than the year-earlier interval when share repurchases totaled roughly $6.9 billion.
Given this, Berkshire’s money hoard grew to $128.651 billion within the fourth quarter of 2022. That’s up from almost $109 billion within the third quarter.
Buffett stated in his annual shareholder letter that Berkshire will proceed to carry a “boatload” of money and U.S. Treasury payments together with its myriad of companies. He specified that future CEOs within the firm will use their very own cash to carry Berkshire shares.
“As for the long run, Berkshire will all the time maintain a boatload of money and U.S. Treasury payments together with a wide selection of companies. We can even keep away from conduct that would end in any uncomfortable money wants at inconvenient instances, together with monetary panics and unprecedented insurance coverage losses,” Buffett wrote.
“And sure, our shareholders will proceed to avoid wasting and prosper by retaining earnings. At Berkshire, there shall be no end line.”
Buffet's annual shareholders letter: https://fm.cnbc.com/purposes/cnbc.com/assets/editorialfiles/2023/02/25/2022ar.pdf
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