Bergkshire Hathway already out with its earnings. The company posted a solid performance in its insurance business. Its cash pile rose to a record 381.7% billion, but the company didn't use any of that cash to buy back shares.And that could imply that Warren Buffett still thinks the stock is too overvalued. Buffett, remember, he's planning to step down from his role of CEO at the end of this year. He'll transition to a chairman role and Greg Ael will take over CEO after. ...

Berkshire Hathaway's cache hit a record $381.7% billion last quarter as Warren Buffett stayed on the sidelines in terms of M&A. Operating profit jumped 34%, led by booming insurance results and unusually low disaster activity. Investors are paying closer attention as the company nears a new era, with Buffett handing off the role of CEO to Greg Abel at year end.Danny. Let's discuss those results further. Joining us now is Alex Roger Bhandari.He covers Buffett and Berkshire for Bloomberg News. Alex It's the s ...

伯克希尔·哈撒韦A：瑞银将其目标价从890002美元上调至892758美元。 来源：滚动播报 ...

Welcome to Yahoo Finance's flagship show, Morning Brief. I'm Julie Hyman. Let's get to the three things you need to know today.First up, US stock futures kicking off November trading in positive territory. Investors gearing up for a busy week of earnings where we'll see results from AMD, Palunteer, Qualcomm, as well as others. Plus, Berkshire Hathway already out with its earnings.The company posted a solid performance in its insurance business. Its cash pile rose to a record $381.7% billion. But the company ...

Core Insights - Warren Buffett is recognized as a long-standing and successful investor, demonstrating resilience and strategic acumen in the investment landscape [1] Company Analysis - The article highlights Warren Buffett's investment philosophy and approach, which have contributed to his enduring success in the financial markets [1] Industry Context - The investment industry often looks to Buffett as a benchmark for successful investment strategies, emphasizing the importance of long-term thinking and value investing [1]

Group 1: American Express - American Express (Amex) has built its business on exclusivity and premium service, attracting affluent customers with its perks and reliability [1] - Amex operates uniquely by issuing its own cards and running its own network, allowing it to capture fees from both merchants and cardholders [6] - The company has faced pushback due to rising fees, but it aims to ensure that its value proposition matches or exceeds these increases, particularly focusing on growth among millennials and Gen-Z [7] Group 2: Apple - Apple remains a leader in consumer tech hardware, maintaining strong brand loyalty despite a lack of groundbreaking new products [2] - The company's total revenue, iPhone revenue, and earnings per share reached record highs in its fiscal third quarter, with services revenue also setting an all-time high [1] - Apple's stock has underperformed compared to the S&P 500 over the past year, attributed to its slower pace in AI development compared to other tech stocks [3] Group 3: Bank of America - Bank of America is the second-largest bank in the U.S. and leads in retail banking, with around $1.2 trillion in consumer deposits and serving 96% of Fortune 1,000 companies [8] - The bank's business is somewhat cyclical, thriving when interest rates rise, but its "too big to fail" status adds a layer of security [9] - Investing in Bank of America is seen as a choice for long-term investors due to its profitability, diversification, and reliable dividend yield above the S&P 500 average [10] Group 4: Coca-Cola - Coca-Cola is one of Berkshire Hathaway's oldest holdings, known for its strong brand, unmatched distribution, and resilience in various economic conditions [11][12] - The company is recognized as a "dividend king," having increased dividends for at least 50 consecutive years, making it a reliable income stock [13]

Core Insights - Berkshire Hathaway reported strong quarterly earnings, showcasing appealing performance from its operating businesses [1] - The company's cash reserves increased to nearly $400 billion, indicating robust cash generation capabilities [1] Group 1: Company Performance - The operating businesses of Berkshire Hathaway demonstrated significant performance in the latest quarterly results [1] - The increase in cash reserves to close to $400 billion reflects the company's strong cash generation and financial health [1] Group 2: Investment Focus - Cash Flow Club emphasizes investing in businesses with strong cash generation and significant durability, aligning with Berkshire Hathaway's characteristics [1] - The community offers resources such as access to a leader's personal income portfolio targeting a yield of over 6%, highlighting a focus on value and income stocks [1]

Core Insights - Berkshire Hathaway Inc. reported an EPS of $9,378.93, exceeding estimates of $8,573.50, driven by strong performance in insurance and retail segments [2][6] - Operating earnings increased by 34% year-over-year, with net earnings attributable to shareholders rising to nearly $30.8 billion from $26.3 billion [3][6] - The company's stock is trading at attractive valuations, with a P/E ratio of 16.36 and a price-to-sales ratio of 2.74, following a 10.6% decline [4][6] Financial Performance - Revenue was reported at $94.97 billion, slightly below the estimated $95.62 billion, indicating resilience despite the shortfall [2] - The balance sheet is robust, featuring a cash reserve of $360 billion, a low debt-to-equity ratio of 0.19, and a high current ratio of 46.06, showcasing strong liquidity [5][6] Market Position - Berkshire Hathaway's unique structure and leadership differentiate it from competitors, which include large conglomerates and investment firms [1] - The company's strong financial position and strategic acquisitions contribute to its competitive edge in the market [1]

Core Insights - Warren Buffett's 2023 letter highlights Berkshire Hathaway's impressive 3,787,464% gain since 1965, emphasizing the importance of investing in companies that significantly increase their dividends over time [2][3] Investment Strategy - The secret to Berkshire's success lies in its investments in companies like Coca-Cola and American Express, which have provided substantial dividend income, with Berkshire collecting over $1 billion annually from these two investments [3][4] - Coca-Cola and American Express have raised their dividends by 19% and 91%, respectively, since the letter was written, indicating strong growth in income streams [4] Portfolio Overview - Berkshire Hathaway's largest holding is Apple, comprising 22.3% of its portfolio with 280 million shares, and the company has doubled its dividend since Buffett began purchasing shares in 2016 [6] - Berkshire collects $291.2 million annually in dividends from Apple, based on a total investment of approximately $40 billion [8] - Bank of America is the second-largest holding, making up just over 11% of the portfolio with 605 million shares, and has nearly quadrupled its dividend since Buffett converted preferred shares to common shares in 2017, now paying over $675 million in dividends per year [9]

Financial Performance - Net earnings attributable to Berkshire shareholders for Q3 2025 were $30.8 billion, an increase of 17.5% compared to $26.3 billion in Q3 2024[177]. - After-tax insurance underwriting earnings increased by $1.6 billion (213.3%) in Q3 2025 compared to Q3 2024, primarily due to lower incurred losses from significant catastrophe events[179]. - After-tax earnings from BNSF increased by $66 million (4.8%) in Q3 2025 and $376 million (10.0%) in the first nine months of 2025 compared to the same periods in 2024[180]. - After-tax earnings from Berkshire Hathaway Energy (BHE) declined by $140 million (8.6%) in Q3 2025 but increased by $287 million (9.6%) in the first nine months of 2025 compared to 2024[180]. - Pre-tax earnings for BNSF increased by 3.6% in Q3 2025 to $1,912 million, and by 6.8% year-to-date to $5,324 million compared to the same periods in 2024[223]. - Net earnings attributable to shareholders were $47.8 billion for the first nine months of 2025, with significant volatility in earnings due to investment gains and losses[286]. Insurance Operations - GEICO's premiums written increased by $563 million (5.0%) in Q3 2025 and $1.8 billion (5.6%) in the first nine months of 2025 compared to 2024[190]. - GEICO's loss ratio was 71.5% in Q3 2025, reflecting a slight increase of 0.1 percentage points compared to Q3 2024, while the loss ratio for the first nine months decreased by 1.8 percentage points[191]. - Premiums written decreased by $263 million (4.8%) in Q3 2025 and $1.1 billion (6.4%) in the first nine months of 2025 compared to 2024, primarily due to volume reductions in property business[203]. - Losses and loss adjustment expenses declined by $1.2 billion (30.1%) in Q3 2025 and $484 million (4.9%) in the first nine months of 2025 compared to 2024[197]. - The effective income tax rate for net underwriting earnings was 25.1% in Q3 2025, a decrease from 27.5% in Q3 2024[187]. Investment Income - After-tax corporate investment income increased by $533 million in Q3 2025 and $1.6 billion in the first nine months of 2025 compared to 2024[183]. - Pre-tax net investment income decreased by $878 million (19.1%) in Q3 2025 and $534 million (4.5%) in the first nine months of 2025 compared to 2024[213]. - Investment gains (losses) for the first nine months of 2025 included significant unrealized gains, contributing to volatility in periodic earnings[182]. - Pre-tax investment gains included unrealized gains of $20.6 billion in Q3 2025 and $23.6 billion in the first nine months of 2025, compared to $18.6 billion and $45.1 billion in the same periods of 2024[278]. - Taxable investment gains were $10.4 billion in Q3 2025 and $18.7 billion in the first nine months of 2025, down from $23.4 billion and $97.1 billion in 2024[278]. BNSF Operations - BNSF's railroad operating revenues for Q3 2025 were $5,988 million, a slight increase from $5,881 million in Q3 2024, while the first nine months of 2025 saw revenues of $17,390 million compared to $17,242 million in 2024[221]. - BNSF's total car/unit volumes increased by 0.8% in Q3 2025 and 2.1% in the first nine months compared to 2024, with consumer products volumes rising by 2.2% in Q3 and 3.7% year-to-date[222]. - BNSF's railroad operating expenses for Q3 2025 were $3,841 million, essentially unchanged from Q3 2024, while year-to-date expenses decreased by $237 million (2.0%) to $11,409 million compared to 2024[228]. Berkshire Hathaway Energy (BHE) - BHE's total revenues for Q3 2025 were $7,304 million, slightly down from $7,335 million in Q3 2024, while year-to-date revenues were $20,078 million compared to $20,104 million in 2024[232]. - BHE's net earnings attributable to Berkshire shareholders for Q3 2025 were $1,489 million, a decrease of 16.3% from $1,778 million in Q3 2024, while year-to-date net earnings were $3,291 million, a slight increase from $3,288 million[235]. - BHE's effective income tax rate for Q3 2025 was (66.4)%, compared to (64.3)% in Q3 2024, reflecting significant production tax credits from wind-powered electricity generation[232]. - BHE's U.S. utilities reported a net earnings decrease of $76 million (8.2%) in Q3 2025 compared to 2024, while showing an increase of $143 million (9.1%) in the first nine months[236]. Manufacturing and Other Revenues - Manufacturing revenues reached $20.0 billion in Q3 2025, a 1.9% increase from 2024, and $58.8 billion for the first nine months, a 1.3% increase[244]. - Pre-tax earnings for manufacturing increased by 14.3% in Q3 2025 and 4.0% in the first nine months compared to 2024[244]. - Financial services revenues rose 12.0% in Q3 2025 and 13.6% in the first nine months of 2025, driven by higher average loan balances and interest rates[257]. - Consumer products group revenues declined $237 million (6.2%) in Q3 2025 and $442 million (4.0%) in the first nine months of 2025, primarily due to lower sales volumes[261]. Capital Expenditures and Shareholder Equity - Consolidated capital expenditures for the first nine months of 2025 were $14.7 billion, including $10.1 billion from BNSF and BHE[292]. - The company's shareholders' equity increased by $48.8 billion to $698.2 billion as of September 30, 2025[286]. - Consolidated borrowings were $127.2 billion as of September 30, 2025, with an increase of $1.4 billion since December 31, 2024[289]. Legal and Regulatory Matters - Berkshire believes that ongoing legal actions will not have a material effect on its financial condition or results of operations[309]. - The company has not adopted a Rule 10b5-1 trading arrangement during Q3 2025[315]. - Significant business risks are outlined in Item 1A of Form 10-K for the year ended December 31, 2024, indicating potential impacts on business and investment value[310].