(BRK.A), (BRK.B)
Berkshire Hathaway’s overall operating earnings for Q2 2023 were a strong $10.043 billion, representing a solid increase from the second quarter of 2022, which recorded operating earnings of $9.417 billion. The 6.6 percent rise in earnings came as the conglomerate’s cash position grew to just over $147 billion, which is up from 130.6 billion in Q1 2023.
Insurance-underwriting was particularly strong with earnings 1,247 billion in Q2 2023, as compared to $715 million in Q2 2022.
At June 30, 2023, insurance float was approximately $166 billion, an increase of approximately $2 billion from yearend 2022.
Berkshire Hathaway continued its stock buybacks with approximately $1.4 billion used to repurchase Berkshire shares during the second quarter of 2023. This brings the six-month total share repurchases to $5.8 billion.
© 2023 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.