Berkshire earnings rose last quarter and CEO Greg Abel is starting to deploy Buffett’s massive cash hoard
Greg Abel began using Berkshire’s $365.5 billion cash pile as buybacks and stock purchases accelerated in the second quarter.
- On Saturday, Berkshire Hathaway reported second-quarter operating earnings climbed 16% to $12.98 billion as CEO Greg Abel began deploying cash, which shrank to $365.5 billion from $397.4 billion.
- Abel is accelerating capital deployment, marking a shift from the net-selling strategy Berkshire maintained for 14 consecutive quarters before becoming a net buyer of equities with nearly $20 billion in purchases.
- Alphabet Inc. joined Berkshire's top five equity holdings after a $10 billion investment to support artificial intelligence, placing it alongside longtime stakes in Apple and Coca-Cola.
- Repurchasing approximately $4.5 billion of its own shares during the quarter, Berkshire provided shareholders with the largest quarterly payout since 2021, followed by over $3.3 billion in July.
- In July, Berkshire completed a $6.8 billion acquisition of homebuilder Taylor Morrison Home Corp., demonstrating Abel's strategy of utilizing cash reserves to expand the conglomerate's diverse business portfolio.
25 Articles
25 Articles
Berkshire Hathaway Just Did Something It Hasn't Done in More Than 3 Years
For three years, Greg Abel sat on one of the largest cash piles in corporate history while the market ran without him. Something just changed, and the new portfolio bets reveal exactly where Berkshire is placing its next big wager.
(New York = Yonhap News) Correspondent Kim Yeon-sook = Warren Buffett (95), known as the 'investment guru,' stepped down, and Berkshire Hathaway, which welcomed a new CEO this January...
Berkshire Hathaway recorded a 16% increase in operating profit after taxes in the second quarter, to US$ 13 billion, driven by the performance of its railway, energy and manufacturing, service and retail businesses, show the financial results released by the company on Saturday (8). Exclusive material for subscribers. To have full access, access the link of the subject and register.
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