We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Berkshire Hathaway’s Insurance and Other segment revenues increased 10% year over year to $17.4 billion in the first quarter of 2020 on the back of higher insurance premiums earned and investment income. Pretax earnings were $2.1 billion, up 16.7% year over year.
Railroad, Utilities and Energy operating revenues declined 4.8% year over year to $9.9 billion due to decrease in volume, average revenue per car/unit and soft energy business. Pretax earnings of $2 billion were down 9.1% year over year. First-quarter earnings reflected lower shipping volumes, offset by productivity improvements inducing lowered operating costs. Revenues and earnings in the first quarter of 2020 were negatively affected by COVID-19.
Total revenues at Manufacturing, Service and Retailing decreased 1.5% year over year to $33.8 billion. Pretax earnings declined 6.7% year over year to $2.7 billion. Impacts of COVID-19 weighed on the results.
Financial Position
As of Mar 31, 2020, consolidated shareholders’ equity was $371.6 billion, down 12.5% from the level as of Dec 31, 2019. At quarter end, cash and cash equivalents were $42.6 billion, down 33.6% from the level at 2019 end.
The company exited the first quarter of 2020 with a float of about $130 billion, up $1 billion from the figure at year-end 2019.
Cash flow from operating activities totaled $6.8 billion in the first quarter, declining 10.3% from year-ago quarter.
Among other players from the insurance industry that have reported first-quarter earnings so far, the bottom line of Brown & Brown, Inc. (BRO - Free Report) beat estimates while that of RLI Corp. (RLI - Free Report) and Travelers Companies (TRV - Free Report) missed the same.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Berkshire (BRK.B) Q1 Earnings Up on Solid Insurance Results
Berkshire Hathaway Inc. (BRK.B - Free Report) delivered first-quarter 2019 operating earnings of $5.9 billion that increased 5.7% year over year.
Improvement in insurance operation helped the company generate improved earnings.
Behind the Headlines
Revenues increased 1.6% year over year to $61.3 billion.
Costs and expenses increased 1.5% year over year to $54.3 billion.
Berkshire Hathaway Inc. Price, Consensus and EPS Surprise
Berkshire Hathaway Inc. price-consensus-eps-surprise-chart | Berkshire Hathaway Inc. Quote
Segment Results
Berkshire Hathaway’s Insurance and Other segment revenues increased 10% year over year to $17.4 billion in the first quarter of 2020 on the back of higher insurance premiums earned and investment income. Pretax earnings were $2.1 billion, up 16.7% year over year.
Railroad, Utilities and Energy operating revenues declined 4.8% year over year to $9.9 billion due to decrease in volume, average revenue per car/unit and soft energy business. Pretax earnings of $2 billion were down 9.1% year over year. First-quarter earnings reflected lower shipping volumes, offset by productivity improvements inducing lowered operating costs. Revenues and earnings in the first quarter of 2020 were negatively affected by COVID-19.
Total revenues at Manufacturing, Service and Retailing decreased 1.5% year over year to $33.8 billion. Pretax earnings declined 6.7% year over year to $2.7 billion. Impacts of COVID-19 weighed on the results.
Financial Position
As of Mar 31, 2020, consolidated shareholders’ equity was $371.6 billion, down 12.5% from the level as of Dec 31, 2019. At quarter end, cash and cash equivalents were $42.6 billion, down 33.6% from the level at 2019 end.
The company exited the first quarter of 2020 with a float of about $130 billion, up $1 billion from the figure at year-end 2019.
Cash flow from operating activities totaled $6.8 billion in the first quarter, declining 10.3% from year-ago quarter.
Zacks Rank
Berkshire Hathaway currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Insurance Releases
Among other players from the insurance industry that have reported first-quarter earnings so far, the bottom line of Brown & Brown, Inc. (BRO - Free Report) beat estimates while that of RLI Corp. (RLI - Free Report) and Travelers Companies (TRV - Free Report) missed the same.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>