Berkshire Hathaway’s operating earnings declined in the fourth quarter due to inflationary pressures on the holding company’s businesses.
According to a statement released on Saturday, Berkshire Hathaway’s operating profit for the fourth quarter of 2022 totaled $6.7 billion. This represents a 7.9% decrease from the same period the previous year, when profit reached $7.285 billion. Operating earnings represent the total profit earned from the businesses owned by the holding company.
The company’s earnings from its railroad, utilities, and energy businesses came in slightly lower at $2.2 billion in the fourth quarter of 2022 compared to the previous year. Meanwhile, its insurance underwriting business decreased from $372 million in the previous year to $244 million in the fourth quarter of 2022.
