Warren Buffett’s Berkshire Hathaway announced third quarter results. Here are the headline numbers:
Read the company press release here.
Read the company 10-Q here.
Operating earnings for the third quarter and first nine months of 2010 increased 35.6% and 45.9% from the comparable periods in 2009. BNSF was the major contributor adding $1.59 billion to net earnings since our acquisition on February 12, 2010, including $706 million during the third quarter. Its acquisition increased our shares outstanding by 6.1%. Another major reason for the improvement occurred at NetJets with a swing from a pre-tax loss of $531 million in the first nine months of 2009 to a pre-tax profit of $158 million in 2010.
At September 30, 2010, our book value had increased by 7.5% to $90,823 per Class A equivalent share. Insurance float (the net liabilities we assume under insurance contracts) at September 30, 2010 was $66 billion and includes float related to our life annuity business that was previously part of our finance and financial products segment.
Read the company press release here.
Read the company 10-Q here.
