OXY - Berkshire Hathaway Q1 operating earnings helped by manufacturing retail
Berkshire Hathaway (BRK.A) (BRK.B) Q1 operating earnings rose slightly from a year ago as its manufacturing and retail businesses thrived, but insurance underwriting earnings declined. The company used about $3.2B of its cash to buy back its common stock in the first quarter of 2022, less than the $6.9B of stock it repurchased in Q4 2021. That comes during a quarter in which the company built by Warren Buffett also made big purchases of Occidental (OXY) shares and $4.2B of HP Inc. (HPQ), as well as agreeing to buy Alleghany (Y) for $4.2B. Q1 operating earnings of $7.04B vs. $7.29B in Q4 2021 and $7.02B in Q1 2021, Insurance float was ~$148B at March 31, 2022, up from ~147B at Dec. 31, 2021. Operating earnings by segment vs. a year ago: Insurance underwriting — $47B vs. $764B Insurance -investment income — $1.17B vs. $1.21B Railroad — $1.37B vs. $1.25B Utilities
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Berkshire Hathaway Q1 operating earnings helped by manufacturing, retail