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BERKSHIRE HATHAWAY (BRK-B)

Q3 2024 Earnings Summary

Reported on Nov 4, 2024 (Before Market Open)
Pre-Earnings Price$450.37Open (Nov 4, 2024)
Post-Earnings Price$450.37Open (Nov 4, 2024)
Price Change
$0.00(0.00%)
MetricYoY ChangeReason

Total Revenue

-0.2%

Increased insurance premiums and investment income were offset by declines at Pilot Travel Centers and lower volumes at McLane, resulting in a slight net decrease.

Total Insurance

+10%

Higher premium volumes and improved underwriting (most notably at GEICO), along with increases in investment income from short-term investments, drove the gain.

Insurance - Investment Income

+56%

Higher short-term interest rates and larger cash/UST bill balances led to a substantial rise in interest income, outweighing a slight drop in dividend income.

Pilot Travel Centers

-19%

Lower average fuel prices and reduced fuel volumes from wholesale and marketing businesses were the main drivers of the revenue decline, partially offset by cost controls.

McLane

-6%

The highly competitive grocery and foodservice market and lower unit volumes pulled down revenues, though improved gross margin rates helped support profitability.

Operating Income (EBIT)

$32,286M vs. -$16,959M

The swing was driven by strong insurance results, including higher underwriting and investment income, and minimal derivative losses, partly offset by softer railroad earnings.

Net Income

$26,480M vs. -$12,567M

Unrealized investment gains in equity holdings provided a major rebound, while improved operating performance in insurance and other segments also contributed to the turnaround.

Research analysts covering BERKSHIRE HATHAWAY.