Berkshire Hathaway earnings scales back share repurchases to $1.0B (NYSE:BRK.B)

Kievit Plaza, Berkshire Hathaway, Omaha, Nebraska


Berkshire Hathaway (NYSE:BRK.B) (BRK.B) scaled back its share buybacks in the second quarter of the year. Operating income for the second quarter increased sequentially and a year ago. However, the company caused stock markets to slump during the quarter to book investment and derivative losses resulting in a net loss for the quarter.

The company repurchased ~$1.0 billion of common stock during the quarter versus $3.2 billion of common stock it issued in the first quarter and $6.9 billion of common stock it was in the fourth quarter of 2021 bought back.

The Omaha-based company that Warren Buffett built held $05.4 billion in cash and short-term securities as of June 30, 2021, down only slightly from $106.3 billion on March 31.

Q2 operating income of $9.28 billion versus $7.04 billion in Q1 and $6.69 billion in Q2 2021.

Berkshire (BRK.B) posted losses on investments and derivatives of $53.0 billion for the quarter, compared to losses of $5.45 billion in the previous quarter and gains of $21.4 billion in the year-ago quarter. That translates to a net loss of $43.8 billion versus a profit of $5.46 billion in the first quarter and a net income of $28.1 billion a year ago.

Insurance free float was ~$147 billion on June 30 vs. $148 billion on March 31.

Operating income by segment compared to the previous quarter and a year ago:

  • Insurance Business – $581 million versus $47 million in Q1 and $376 million in Q2 2021.
  • Insurance – Investment Returns – $1.91 billion versus $1.17 billion and $1.22 billion
  • Railroad – $1.66 billion vs. $1.37 billion and $1.52 billion
  • Utilities & Energy – $766M vs. $750M and $740M
  • Manufacturing, Services & Retail – $3.25 billion vs. $3.03 billion and $3.00 billion
  • Other – $1.12 Bvs. $677M and -$169M

Evolving…check back for updates

Learn why SA contributor Yiannis Zourmpanos calls Berkshire (BRK.B) a stock to weather the recession Berkshire Hathaway earnings scales back share repurchases to $1.0B (NYSE:BRK.B)

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