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Warren Buffett Berkshire Hethai On Saturday, the results of the first quarter, which showed a steep drop in operating earnings per year, were reported. The conglomerate, which has a large spectrum of insurance, transport, energy, retailers and other enterprises, also warned that tariffs could make even more profit.
Operating profit, which includes fully insurance and railway business Conglomerate, decreased by 14% to $ 9.64 billion during the first three months of the year. In the first quarter of 2024, they amounted to $ 11.22 billion.
Based on the promotion, operating profits amounted to $ 4.47 in the past quarter, which fell from $ 5.20 per class B over the same period year ago. This is compared to $ 4.89 per class B from UBS and a total consensus estimate of $ 4,72 per share for the fact.
A considerable part of this decline was due to the immersion of 48.6% in insurance profits. This amounted to $ 1.34 billion in the first quarter, which decreased compared to $ 2.60 billion a year before.
In the lower line Berkshire in the first quarter there was a blow from the dollar. The company said it suffered approximately $ 713 million with replacement losses. This time last year he took advantage of $ 597 million.
The dollar index decreased by almost 4%in the first quarter. He lost 4.6%against the Japanese yen.
The tariff uncertainty
Berkshire said President Donald Trump’s tariffs and other geopolitical risks have created an uncertain environment for the conglomerate, the owner of BNSF Railway, Brooks Running and Geico Insurance. At this time, the firm stated that there was no potential effect on the tariffs.
“Our periodic exploitation results can affect the following periods by impacting permanent macroeconomic and geopolitical events, as well as changes in industry factors or events,” Berkshire said in a profit report. “The pace of changes in these events, including international trade policy and tariffs, accelerated in 2025. Significant uncertainty remains against the final result of these events.”
“Currently, we cannot reliably predict the potential impact on our business, whether through changes to products, supply costs and efficiency, as well as customer demand on our products and services,” the statement said.
BRK.A VS S&P 500 in 2025
The report occurs when Berkshire uses star performance and a wider market. In 2025, class A Berkshire shares grew by almost 19%and S&P 500 It is reduced by 3.3% in the form of uncertainty from tariffs on technology and other sectors.
Berkshire’s harvesting rose to a fresh record in the first quarter, rising more than $ 347 billion from approximately $ 334 billion at the end of 2024, when Buffet continues to fight to find opportunities.
Berkshire was a pure stock seller for the 10th in a row.
The company’s total income also immersed almost 64% for the year, as Buffett’s portfolio is publicly traded to start a year. Given this, Berkshire always advises investors to view these quarterly changes.
“The amount of income from investment (loss) in any quarter is usually meaningless and provides net income figures that may be extremely misleading for investors who know little accounting rules,” Berkshire said.
– Yun li in CNBC made a report.
