Berkshire Hathaway’s (NYSE:BRK.A) (NYSE:BRK.B) Q1 2024 operating earnings climbed 39% from a year ago, driven by strong improvements in its insurance businesses and energy business, the conglomerate disclosed on Saturday.
It purchased about $2.6B of its common stock during the quarter, compared with the $2.2B buyback in the previous quarter.
The company held a record ~$189B in cash and short-term securities on its balance sheet at March 31, 2024, up from ~$167.6B at Dec. 31, 2023.
Q1 operating earnings of $11.2B advanced from $8.48B in Q4 2023 and $8.07B in the year-earlier period.
Insurance float was ~$168B at March 31, 2024 vs. $169B at Dec. 31, 2023.
Berkshire’s (BRK.A) annual shareholder meeting will kick off at 10:15 a.m. ET, where legendary investor Warren Buffett and his lieutenants will answer shareholders’ questions about the company’s sprawling businesses.