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Of Jonathan Stempel and Carolina Mandl
Omaha, Nebraska/New York (Reuters) -Warren buffett’s Berkshire Hathaway Saturday registered a lower operational benefit in the first quarter, affected by forest fire insurance losses and foreign currency changes, while their cash participation increased to a record of $ 347.7 billion.
Omaha’s operating profit, Nebraska -based conglomerate, dropped 14% to $ 9.64 million, or $ 6,703 per class A action, going from $ 11.22 billion a year earlier.
Net revenue dropped by 64% to $ 4.6 billion, or $ 3,200 per action A, from $ 12.7 billion, reflecting losses not made to shares in common shares, including Apple.
Cash participation went from $ 334.2 billion at the end of the year, reflecting Berkshire’s difficulty in finding things to buy.
He did not buy his own stock for a third quarter in a row and was a net seller of shares for the tenth consecutive quarter, buying $ 3.18 billion and selling $ 4.68 million.
Berkshire said little about how the President of the United States President Donald Trump affected the results.
He said in his quarterly report that “considerable uncertainty” is maintained, and Berkshire was not “unable to reliably predict” the potential impact on the company, including product costs, supply chain costs and customer demand.
The results included $ 1.1 billion of loss in insurance claims arising from the wildfires in the Los Angeles area in January.
This led to the general net insurance revenue dropping almost half, up to $ 1.34 billion.
The loss of fires that compensated for the continued improvement in the Geico car insurer, as the increase in premiums and claims of reduced accidents helped increase the benefit of the subscription before the tax of 13%.
The results also included $ 713 million of coin-related losses, as the US dollar weakened, compared to a $ 597 million gain a year earlier.
The results were published ahead of the annual meeting of Berkshire shareholders in Omaha, part of a weekend that attracts tens of thousands in the city.
94 -year -old Buffett has led Berkshire for 60 years, transforming -the textile company in a conglomerate that their business includes Geico, the Bnsf, Berkshire Hathaway Energy, Dairy Queen and See railway.
Berkshire’s actions have far exceeded the largest market in 2025, and many investors saw the company as a safe refuge for possible interruptions in the economy, including rates.
In other companies, rates may have temporarily helped the BNSF railway, where the benefit increased by 6%.
BNSF reported higher volumes for consumer products, including west coast imports and car vehicles, which suggests a higher demand for shipments before the rates begin.
