Berkshire Hathaway Posts Lower Earnings

By Anupreeta Das 

Warren Buffett's Berkshire Hathaway Inc. posted lower earnings for the fourth quarter amid investment derivative gains of $192 million.

Berkshire is an Omaha, Neb.-based holding company with dozens of businesses ranging from specialty chemicals maker Lubrizol to manufactured housing provider Clayton Homes, and a massive portfolio of securities. At its core is its insurance operation, which includes Geico Corp. and reinsurer General Re.

Berkshire reported a net profit of $4.16 billion, or $2,529 a Class A share, compared with $4.99 billion, or $2,297 a share, a year earlier. Operating earnings, which exclude some investment results, were $2,412 a Class A share, versus $2,297 a share.

Book value per Class A share increased by 8.3% to $146,186 at Dec. 31.

Analysts polled by Thomson Reuters were expecting per-share operating earnings of $2,701.

The results were released in conjunction with Mr. Buffett's 50th annual letter to shareholders, considered a must-read on Wall Street for his investing wisdom.

Write to Anupreeta Das at [e-mail]

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