Summary by Futu AI
Berkshire Hathaway Inc. reported a significant increase in net earnings attributable to shareholders for the year ended December 31, 2023, reaching $96.2 billion compared to a loss of $22.8 billion in the previous year. This increase was largely due to after-tax investment gains of approximately $58.9 billion. The company's insurance underwriting business saw after-tax earnings of $5.4 billion, a notable improvement from a negligible loss in 2022, driven by lower losses from significant catastrophe events and improved underwriting results at GEICO. Berkshire Hathaway's railroad, utilities, and energy businesses generated revenues of $101.4 billion, with BNSF contributing $23.8 billion in freight rail transportation revenues. BHE's after-tax earnings, however, declined by 40.3% to $2.3 billion due to increased wildfire loss estimates. The acquisition of an additional 41.4% interest...Show More