Warren Buffett runs on 3 May 2024 for the Berkshire Hathaway -annual shareholders’ meeting in Omaha, Nebraska.
David A. Grogen | CNBC
Berkshire Hathaway On Saturday, a huge increase in the profit of the fourth quarter of his operational companies, largely driven by the insurance, reported his cash interests to record levels.
The conglomerate guided by Warren Buffett said that his operational profit that includes the income of the entire companies of the company-71% shot up to $ 14,527 billion during the last three months of 2024. That was led by a no less than 302% jumped in Insurance of the insurance of the insurance annual exercise period up to $ 3,409 billion. Income in insurance investments also devise by almost 50% to $ 4,088 billion.
The operational income also struck 27% for the entire year, with $ 47,437 billion.
“In 2024, Berkshire did better than I expected, although 53% of our 189 operational companies reported a decrease in income. We were helped by a predictable large profit in the investment income as the tatury account improved and we our participations of this Very strongly raised liquid short -term effects, “Buffett, chairman and CEO of Berkshire, said in his annual letter to shareholders. “Our insurance activities also resulted in a large increase in income, led by Geico’s performance.”
Certainly, Berkshire warned that the forest fires that outbreak in southern California will lead to an estimated loss for taxes of around $ 1.3 billion for its insurance activities.
Cash Holdings Top $ 330 billion
Berkshire Hathaway finished 2024 with $ 334.2 billion in cash, an increase of $ 325.2 billion at the end of the third quarter. This fort comes as a buffett is struggling to find its next major investment objective.
In his annual letter, Buffett defended the great cash interests.
“Despite what some commentators currently consider as an extraordinary cash position in Berkshire, the large majority of your money will remain in shares. Although our ownership of tradable shares last year went down from $ 354 billion to $ 272 billion, the value of our unecured shares has increased somewhat and remains much greater than the value of the tradable Portfolio, “he said, that” shareholders of Berkshire can rest assured that we will always use a considerable majority of their money “.
Berkshire Hathaway 1-year-old graph
Investment profits delayed strongly in the fourth quarter to $ 5.167 billion of $ 29.093 billion in the annual shepherd. Indeed, Berkshire polished share investments in the course of the year. In particular, it sold part of his Apple -interest to 2024.
Certainly, Berkshire always notes in his income that: “The amount of the investment profits/losses in a certain quarter is usually meaningless and provides figures for net income per share that can be extremely misleading for investors who have little or no knowledge of accounting rules. “
Berkshire’s total income for the quarter amounted to $ 19.694 billion, a decrease of 47% compared to the period of the year of $ 37,574 billion. For the full year, the Bottom Line of the company came to $ 88.995 billion, a decrease of 7.5% of $ 96,223 billion in 2023.