The conglomerate’s wholly owned businesses drove quarterly operating profits to an all-time high, offsetting investment losses.
Berkshire Hathaway reported record operating earnings of nearly $10.1 billion in the latest quarter, fueled by its private subsidiaries. Insurance, rail operator BNSF, and utility Berkshire Hathaway Energy contributed $6.9 billion, while other businesses added $3.2 billion.
The result marks a new high for the conglomerate’s operating profits, surpassing prior periods. However, realized and unrealized investment losses of over $1.2 billion weighed on net earnings, highlighting the contrast between core business performance and market volatility.
The earnings underscore Berkshire’s reliance on its diverse portfolio of wholly owned companies rather than public stock holdings for consistent profitability.