Canaccord Genuity Morning Coffee on Berkshire Hathaway (BRK-A)(BRK-B): Double Up
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Price: $743,500.00 --0%
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B): Double up.
Warren Buffett's Berkshire Hathaway more than doubled its profit in the first quarter buoyed by gains in its insurance businesses and derivatives holdings. Berkshire saw a nearly four-fold increase in the gains on its portfolio of derivatives to $650 million. However, results were hindered by a $337 million loss on Texas Competitive Electric Holdings bonds. The company posted $3.25 billion in earnings, translating to $1,966 per Class A share. That compares with $1.51 billion or $917 per share in the first quarter of last year. Operating earnings, which exclude some investment and derivative gains, were $1,615 a share, coming up short of analysts' estimates of $1,780 a share. Berkshire’s insurance underwriting business reported a $54 million gain, reversing an $821 million loss a year ago, when results were hurt by a string of natural disasters around the globe. Manufacturing, service and retailing operations posted an $854 million profit, up 53% from a year ago, helped by the recent acquisition of chemicals maker Lubrizol.
Warren Buffett's Berkshire Hathaway more than doubled its profit in the first quarter buoyed by gains in its insurance businesses and derivatives holdings. Berkshire saw a nearly four-fold increase in the gains on its portfolio of derivatives to $650 million. However, results were hindered by a $337 million loss on Texas Competitive Electric Holdings bonds. The company posted $3.25 billion in earnings, translating to $1,966 per Class A share. That compares with $1.51 billion or $917 per share in the first quarter of last year. Operating earnings, which exclude some investment and derivative gains, were $1,615 a share, coming up short of analysts' estimates of $1,780 a share. Berkshire’s insurance underwriting business reported a $54 million gain, reversing an $821 million loss a year ago, when results were hurt by a string of natural disasters around the globe. Manufacturing, service and retailing operations posted an $854 million profit, up 53% from a year ago, helped by the recent acquisition of chemicals maker Lubrizol.
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