Berkshire reports strong BNSF gains and lower insurance profit
In short
Berkshire Hathaway said its third-quarter results included strong revenue and earnings growth at BNSF, its railroad unit. It also had lower profit in its big insurance business, and buybacks hit a record even as the pace slowed when the stock rose.
The mix of stronger rail results and weaker insurance profit can affect the stock’s outlook.
What the reporting says
Berkshire Hathaway’s third-quarter results showed big revenue and earnings gains in its railroad unit, BNSF, while profits fell at its large insurance group, according to the summary. The update adds that the company also surprised with record buybacks, though the pace slowed as the stock rose.
Why it matters
It also says buybacks reached a record, though the pace slowed as the stock rose. The report highlights performance differences across Berkshire’s main businesses, but gives no dollar figures or explanation for the shift.