(BRK.A), (BRK.B)
Berkshire Hathaway has continued its stock buybacks in the third quarter of 2023, reporting that “approximately $1.1 billion was used to repurchase Berkshire shares during the third quarter bringing the nine month total to approximately $7.0 billion. On September 30, 2023 there were 1,445,546 Class A equivalent shares outstanding.”
The conglomerate reported strong operating earnings in Q3 of $10.761 Billion as compared to $7.651 billion in Q3 2022. Operating earnings for the first nine months were a robust $28.869 billion as compared to $24.228 in the first nine months of 2022.
Despite recent acquisitions of Allegany Corp., the controlling interest in Pilot Corp., and buying Dominion Energy’s 50% limited partnership stake in the Cove Point LNG facility, Berkshire’s cash reserves has continued to grow, reaching $157 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.