This increase came about even as freight volumes transported by the company decreased year over year, dropping about 10.3%. Though less impressive, BNSF, also known as Burlington Northern Santa Fe, saw a revenue increase, with sales growing from $5.97 billion to $6.02 billion. With the exception of GEICO, every major reportable unit under the insurance umbrella benefited from an increase in the value of premiums written. That's 17.7% above the $18.85 billion generated one year earlier. One area that was a true bright spot for the company was its insurance business. Of course, we should break down the figures some. In a vacuum, these numbers look quite positive. This represents a 20.5% increase over the $70.84 billion the company generated only one year earlier. During the quarter, the insurance and industrial conglomerate generated sales of $85.39 billion. The first thing I will focus on is revenue. But on the whole, the data provided shows that the company is still quite healthy. There were some negative developments in this. After all, the company did just report financial results covering the first quarter of its 2023 fiscal year. They started off this event talking largely about how well Berkshire Hathaway itself is doing from a fundamental perspective. Starting with the Berkshire Hathaway's numbersĪlthough there were many aspects of the first two days of the event that we could focus on, the marquee event in question were the public presentation and question and answer sessions starring both Warren Buffett and Charlie Munger. During the event, he and his partner Charlie Munger answered a number of questions and provided a great deal of insight into what they think, not only about the future of Berkshire Hathaway but also about the economy more broadly. Buffett's influence over the investment community, in politics, and economically, makes knowing what he is thinking unbelievably important. Its sheer size, with a market capitalization of $716 billion as of this writing, makes it an incredibly important part of the US and global economies. With the exception of state controlled Saudi Aramco, Berkshire Hathaway is the largest publicly traded non-technology company on the planet. The weekend long event is often considered the Woodstock of Capitalism, with tens of thousands in attendance. May 6th proved to be a once-a-year event, where shareholders and fans of Berkshire Hathaway ( NYSE: BRK.A) ( NYSE: BRK.B) and its chairman Warren Buffett show up to Omaha, Nebraska for the company's annual shareholders meeting.
0 Comments
Leave a Reply. |