Buffett’s Berkshire Hathaway Earnings Plunge Amidst Tariff War Warnings
Berkshire Hathaway’s first-quarter operating earnings decreased 14% to $9.64 billion, primarily due to a 48.6% drop in insurance-underwriting profit, partially attributed to Southern California wildfires. The decline also reflects a $713 million foreign exchange loss, contrasting with a gain the previous year. Tariffs and geopolitical uncertainties, particularly impacting BNSF Railway and Geico, created an unpredictable environment and contributed to the decrease. Despite this, Berkshire’s cash reserves reached a record high of over $347 billion.
John Q. Hosedrinker