Berkshire Hathaway Q4’FY22 Earnings Summary
$Berkshire Hathaway-B(BRK.B.US$ posted an EPS of $3.01 that missed the analysts’ estimated $3.57 EPS by 18.6%. Their revenue for the quarter also missed estimates by 2.2%.
Their portfolio companies were no exception to inflationary pressure of materials and labor cost as their operating earnings fell 14% in the quarter, especially in their rail road and insurance operations. Summary of each categories’ performance:w
- Insurance-underwriting: Declined -34% y-o-y
- Insurance-investment income: Increased +65% y-o-y
- Railroad: Increased: Decreased -13% y-o-y
- Utilities and energy: Increased +24% y-o-y
- Other controlled businesses: Increased +7% y-o-y
For the quarter, Berkshire used $2.855 bil for share buy back, a significantly lower amount compared to the $6 bil in Q4’FY21 (about 52.4% decrease).
Their cash and cash equivalent grew +18% to $128.65 bil from the $109 bil in Q3’FY22, and Warren Buffett stated that that will continue to hoard that amount of cash and US Treasury bills.
Capital allocation wise, Berkshire was a net seller of stocks in the quarter, which became more apparent when they decreased their position in Taiwan Semiconductor (TSMC) by 86%.
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