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Berkshire Hathaway (BRK.A) (NYSE:BRK.B) Q1 working earnings rose barely from a yr in the past as its manufacturing and retail companies thrived, however insurance coverage underwriting earnings declined.
The corporate used about $3.2B of its money to purchase again its widespread inventory within the first quarter of 2022, lower than the $6.9B of inventory it repurchased in This autumn 2021. That comes throughout 1 / 4 during which the corporate constructed by Warren Buffett additionally made massive purchases of Occidental (OXY) shares and $4.2B of HP Inc. (HPQ), in addition to agreeing to purchase Alleghany (Y) for $4.2B.
Q1 working earnings of $7.04B vs. $7.29B in This autumn 2021 and $7.02B in Q1 2021,
Insurance coverage float was ~$148B at March 31, 2022, up from ~147B at Dec. 31, 2021.
Working earnings by phase vs. a yr in the past:
- Insurance coverage underwriting — $47B vs. $764B
- Insurance coverage -investment earnings — $1.17B vs. $1.21B
- Railroad — $1.37B vs. $1.25B
- Utilities and vitality — $750M vs. $703M
- Manufacturing service and retailing — $3.03B vs. $2.62B
- Different — $677M vs. $473M
Q1 funding losses of $5.46B in contrast with features of $4.69B in Q1 2021; that included losses of ~$771M in Q1 2022 and features of ~$2.8B in Q1 attributable to modifications of unrealized features/losses in its fairness safety funding holdings. The whole funding losses/features numbers additionally embody $612M of after-tax realized losses on gross sales of investments in Q1 2022 and after-tax realized features on gross sales of investments of $1.41B in Q1 2021. (Added at 8:25 AM ET).
Q1 web earnings, which incorporates funding and derivatives features or losses (most of which is unrealized), had been $3.70B, or $2.47 per class B share. That compares with $39.6B, or $17.79 per class B share, in This autumn and $7.64B, or $5.09 per share, within the year-ago quarter.
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