Berkshire’s First Post-Buffett Chair Report Puts Cash in Focus
The third-quarter report is expected to show how Berkshire’s cash reserve and operating businesses fared under CEO Greg Abel.
Key takeaways
- Berkshire is expected to publish third-quarter results on Nov. 7.
- Its cash and short-term investments stood at about $365.5 billion at June-end.
Berkshire Hathaway is expected to publish third-quarter results on Saturday, its first financial report since Warren Buffett left the board chair role in September. Investors will be watching how the company’s cash reserve and operating businesses performed under CEO Greg Abel.
Cash and short-term investments stood at about $365.5 billion at the end of June. The report is expected around 16:00 Turkey time, with the September-end reserve level a key focus.
Berkshire paid about $6.8 billion in cash to complete its acquisition of homebuilder Taylor Morrison on July 24. In the second quarter, it spent about $4.5 billion buying back its own shares, while operating profit rose about 16% year over year to $12.98 billion.
Investors will also be watching results at insurer GEICO, railroad BNSF and Berkshire Hathaway Energy. GEICO’s underwriting profit fell 45% in the second quarter, according to the article.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
