Financial Reports

Berkshire Hathaway’s Q1 2024 Operating Earnings Surge Compared to Q1 2023

(BRK.A), (BRK.B)

Berkshire Hathaway has reported impressive operating earnings for the first quarter of 2024, marking a significant increase compared to the same period in 2023. The company’s robust performance across various sectors underscores its resilience and strategic prowess.

In Q1 2024, Berkshire Hathaway’s operating earnings stood at $11.22 billion, a substantial rise from $8.065 billion recorded in Q1 2023. This growth can be attributed to solid performances in key segments:

1. Insurance-underwriting: The company saw a remarkable increase in earnings from insurance underwriting, with figures soaring from $911 million in Q1 2023 to $2.598 billion in Q1 2024.
2. Insurance-investment income: Another significant contributor to the earnings surge was insurance investment income, which rose to $2.598 billion from $1.969 billion in the previous year’s first quarter.
3. BNSF and Berkshire Hathaway Energy Company: Despite minor fluctuations, both BNSF and Berkshire Hathaway Energy Company contributed positively to the overall earnings, reflecting the company’s diversified portfolio.
4. Other controlled businesses: Earnings from other controlled businesses remained stable, totaling $3.088 billion in Q1 2024, compared to $3.065 billion in Q1 2023.
5. Non-controlled businesses: While there was a slight decrease in earnings from non-controlled businesses, Berkshire Hathaway’s overall performance remained strong, with earnings totaling $405 million in Q1 2024.
6. Other: The company reported positive earnings in the “Other” category, marking a notable turnaround from the previous year’s loss, with earnings reaching $673 million.

Berkshire Hathaway’s exceptional performance in the first quarter of 2024 reaffirms its position as a powerhouse in the corporate landscape. With solid growth across various sectors and a commitment to delivering value to shareholders, the company continues to thrive even in challenging economic environments. As investors look ahead, Berkshire Hathaway’s consistent track record of success positions it as a compelling choice for long-term investment.

© 2024 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.

Leave a Reply