Warren Buffett goes to the ground on May 3, 2024 in front of the annual shareholder meeting of the Berkshire Hathaway in Omaha, Nebraska.
David A. Groge | CNBC
Berkshire Hathaway On Saturday he reported a massive increase in profits of the fourth quarter by his operational companies, which were largely driven by insurance companies, while his cash stocks swelled to record levels.
The conglomerate conducted by Warren Buffett said that his operating profit, which comprises the company's profits of the company's profits, rose by 71% to $ 14.527 billion in the last three months of 2024. -Erlierzeit up to 3.409 billion US dollars. The income for insurance investments also increased by almost 50% to 4.088 billion US dollars.
The operating result also rose by 27% throughout the year and amounted to $ 47.437 billion.
“In 2024, Berkshire did better than I expected, although 53% of our 189 operational companies reported a decline in profits. We were supported by a predictable great profit of the investment result because the returns of the Ministry of Finance were improved, and we have our participation in this Liquid Short period Securities, “Buffett, Chairman and CEO from Berkshire said significantly. in his annual letter to the shareholders. “Our insurance business also provided a significant increase in yield, which was led by the performance of Geico.”
Berkshire warned that the forest fires broken out in Southern California will lead to an estimated loss of around $ 1.3 billion for his insurance business.
Cash Holdings Top 330 billion US dollars
Berkshire Hathaway ended in cash with 334.2 billion US dollars in cash in 2024, compared to 325.2 billion US dollars at the end of the third quarter. This fortress comes when Buffett has difficulty finding its next big investment goal.
In his annual letter, Buffett defended the big money stocks.
“Although some commentators currently see as an extraordinary cash position in Berkshire, the majority of their money remains in shares. This preference will not change. While our ownership of marketable shares last year from 354 billion US dollars to $ 272 billion is drawn below, the value of our not cited controlled stocks rose something and remains much greater than the value of the Marketable portfolios “use a considerable majority of their money in shares forever. “
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Berkshire Hathaway 1-year chart
In the fourth quarter, the investment gains slowed down to $ 5,167 billion of $ 29.093 billion in the previous year. In fact, Berkshire reacted stock investments over the course of the year. Remarkably, it sold part of its apple pile by 2024.
In his profit publications, Berkshire always provides a firm accounting rules. “
Berkshire's total profit for the quarter was $ 19.694 billion, which decreased of 47% compared to the same period of the same period of 37.574 billion. For the entire year, the company's end result was 88.995 billion US dollars, which went a decrease of 7.5% compared to 96.223 billion US dollars in 2023.