Berkshire Hathaway increases operating profit by 28 percent

Berkshire Hathaway increases operating profit by 28 percent and reports a cash balance of 163.6 billion dollars. Warren Buffett said in his shareholder letter that there are basically no candidates to invest in outside the US.

Berkshire Hathaway Q4 2023 highlights:

Berkshire Hathaway reported operating income – which refers to profits from businesses in insurance, railroads and utilities – of $8.481 billion in the fourth quarter, a 28 percent increase over the same period.

Net income of USD 37.6 billion

2.2 billion dollars in share buybacks

Cash grew to 163.3 billion dollars in the fourth quarter, a record level that exceeds the 157.2 billion dollars held by the conglomerate in the previous quarter.

Warren Buffett warned Berkshire Hathaway shareholders that his sprawling $905 billion conglomerate has virtually “no opportunity for eye-popping performance” in the coming years, laying bare the challenges that will face his successor.

The so-called Oracle of Omaha said in its annual letter on Saturday that there were very few deals that offer the kind of transformative effect that previous acquisitions have had, such as its purchase of insurers Geico and National Indemnity or the BNSF railroad.

“There are only a handful of companies left in this country that can really move the needle in Berkshire, and they have been endlessly picked over by us and others,” he said. “Outside the US, there are virtually no candidates that are meaningful options for capital investment in Berkshire.”

Berkshire’s Class A shares have risen about 16 percent this year.

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