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The legendary holding company posted better-than-expected results for their second quarter after its myriad of businesses – from energy to railroads – received a generous boost as governments loosened their grip on COVID-19 restrictions.
This sent Berkshire’s Class “B” shares up by 2%, thus bringing the total year-to-date growth to over 23%.
Financial performance for Q2 2021
“Our consolidated balance sheet continues to reflect very significant liquidity and a very strong capital base. Consolidated shareholders’ equity at June 30, 2021, [for instance], was $470 billion – an increase of $27.2 billion since December 31, 2020.”
Here are the main financial highlights from Berkshire Hathaway’s latest earnings release:
– Gross earnings: $28 billion (6.8% year-over-year growth)
– Operating earnings: $6.69 billion (21% year-over-year growth)
– Earnings from railroads, utilities and energy: 27% year-over-year growth ($2.26 billion)
– Repurchased shares: for the period, the company bought $6 billion of its own stock, bringing the six-month total to $12.6 billion
– Cash reserves: $144.1 billion (same as in the previous quarter)
Forecast for Q3 2021
“The COVID-19 pandemic adversely affected nearly all of our operations during 2020 and, in particular, during the second quarter, although the effects varied significantly. The extent of the effects over the long term cannot be reasonably estimated at this time.”
At the moment, Berkshire Hathaway is unsure of when its financial performance will revert to normal. According to the company, the risks from the pandemic still remain very real and could impact its results in the future.
In its earnings statement, the company also mentioned that its share buyback program, which it had initiated last year and ended at the record $25 billion in repurchased assets, is expected to continue indefinitely.
See the full list of upcoming earnings reports for 16-20 August in the tables below.
Monday, 16th August 2021
|China||Tencent Music Entertainment Group||Q2 2021|
Tuesday, 17th August 2021
|USA||Agilent Technologies Inc||Q3 2021|
|USA||Home Depot Inc||Q2 2021|
|USA||Walmart Inc||Q2 2022|
|Australia||BHP Group PLC||Full Year 2021|
Wednesday, 18th August 2021
|USA||Progressive Corp||Report for July 2021|
|USA||TJX Companies Inc||Q2 2022|
|USA||Target Corp||Q2 2021|
|USA||Lowe's Companies Inc||Q2 2021|
|USA||Analog Devices Inc||Q3 2021|
|United Kingdom||Persimmon PLC||Half Year 2021|
Thursday, 19th August 2021
|USA||Ross Stores Inc||Q2 2021|
|USA||Applied Materials Inc||Q3 2021|
|USA||Kohls Corp||Q2 2021|
|Norway||Otello Corporation ASA||Q2 2021|
|Kingdom of the Netherlands||Koninklijke BAM Groep NV||Q2 2021|
|Kingdom of the Netherlands||Adyen NV||Half Year 2021|
|United Kingdom||Antofagasta PLC||Half Year 2021|
|USA||Cisco Systems Inc||Q4 2021|
|USA||NVIDIA Corp||Q2 2022|
|Chile||Sociedad Quimica y Minera de Chile SA||Q2 2021|
Friday, 20th August 2021
|USA||Deere & Co||Q3 2021|
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