Berkshire B: $285 ( 6mnd + 21%, YLD +23 %,12 mnd + 39%)
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Berkshire Hathaway Q2 operating earnings climb 21% from a year ago
Aug. 07, 2021 8:08 AM ETBerkshire Hathaway Inc. (BRK.B), BRK.ABy: Liz Kiesche, SA News Editor4 Comments
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Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) Q2 operating earnings or $6.69Bin increases from $5.51B in the year-ago quarter, with the biggest Y/Y gains made in its railroad, utilities and energy division and its "other businesses" segment.
The company bought about $6.0B of its share during Q2, brining H1 buybacks total to $12.6B
Insurance float was ~$142B at June 30, 2021, up ~$2B from March 31.
Cash, cash equivalents, nd short-term investments of $144.1B at June 30, 2021 compares with $145.4B at March 31.
Railroad, utilities and energy operating income increased to $2.26B from $1.76B a year earlier.
After-tax earnings from its railroad businesses rose 34% in Q2, reflecting overall higher freight volumes and lower costs due to improved productivity.
After-tax earnings from its utilities and energy business increased 21% Y/Y in H1 2021, on increased earnings from its natural gas pipelines, including the effects of a business acquisition, and from the real estate brokerage businesses.
Insurance underwriting operating earnings fell to $376M from $806M a year ago.
Insurance investment income of $1.22B slipped from $1.37B a year earlier.
Other businesses (manufacturing, service, and retailing) operating income jumped to $3.00B from $1.45B.
"Earnings of our manufacturing, service and retail businesses in 2021 benefitted from higher customer demand in many of our businesses and exceeded earnings in 2019 as well," the company said in its 10-Q filing.
Investments and derivatives gains of $21.4B fell 22% Y/Y from $31.6B a year ago.
Q2 net earnings of $28.1B, or $12.33 per class B share, increased from $16.3B, or $10.88 per class B share.