KO - Berkshire Hathaway's Operating Earnings Soar Over 40% In Q3 — Did Buffet's Empire Defy Economic Headwinds This Season? | Benzinga
Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) on Saturday registered a solid increase in third-quarter operating earnings, driven by strength in insurance businesses, both in underwriting and investment income.
The Omaha-based company's quarterly operating earnings of $10.76 billion rose from $7.65 billion in the year-ago quarter.
In the quarter under review, insurance underwriting generated earnings of $2.4 billion in Q3 versus losses of $1.1 billion year over year. Earnings from insurance investment income increased $1.1 billion in the third quarter primarily due to the impact of higher short-term interest rates, partly offset by lower dividend income.
Approximately $1.1 billion was used to repurchase Berkshire shares during Q3, bringing the nine-month total to roughly $7 billion.
The company's cash accumulation scaled a new record at $157.2 billion, supported by elevated interest rates and a shortage of "meaningful deals" where billionaire investor Warren Buffett could put his money to work, according to a