Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) reported another strong financial results for the second quarter of the current fiscal year. The conglomerate said its net earnings were $2,384 per class A shares, an increase of 5.8 percent year-over-year.
The consensus estimate of analysts covering the stock estimated that its earnings will be around $2,161.62 per Class A share for the second quarter.
Willow Oak Asset Management 2Q20 Commentary: Looking For Emerging Managers To Seed
Willow Oak Asset Management commentary for the second quarter ended July 30, 2020. Q2 2020 hedge fund letters, conferences and more Overview The second quarter was one of the most consequential time periods in American history. Risks that existed in the economic and political systems revealed themselves during the quarter due to the COVID pandemic. Read More
Berkshire Hathaway profit increased by 51 percent
During the same period a year earlier, Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) generated $2,251.99 earnings per Class A share. During the previous quarter, Berkshire Hathaway’s profit increased by 51 percent driven by the good performance of its insurance business and investments. The conglomerate earned $2,302 per class A share.
Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) said its insurance underwriting business earned $530 million, insurance-investment income was $1.144 billion, and non-insurance business generated $2.372 billion. Its total operating income was $3.919 billion, higher than its $3.720 billion operating income in the same period last year.
Equity of shareholders increased by $14.4 billion since start of year
The conglomerate said the equity of its shareholders increased $14.4 billion since the start of the beginning of the year.
The increase in shareholders’ equity is net of a reduction in Berkshire’s shareholders’ equity of approximately $1.2 billion (about $730 per Class A equivalent share). The reduction, which does not reflect economic results, relates to purchases of the shares in Iscar not previously owned and purchases of additional shares in Marmon during the second quarter,” as written by the Berkshire Hathaway in its financial statement.
Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) said its book value per class A shares also increase by 7.6 percent to $122,900 as of June 30, 2013.
The stock price of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) is trading slightly at around $176, 500 per class A share after trading hours on Friday in New York.