Warren Buffett’s company to report 3Q earnings Friday

Posted By: Channel 8 Eyewitness News


       OMAHA, Neb. (AP) – Warren Buffett’s company is planning to release its third-quarter earnings report on Friday afternoon.
    Berkshire Hathaway Inc. has been building up a mountain of cash since acquiring Precision Castparts early this year. So investors will be looking at how much that’s grown since June when it was nearly $73 billion.
    Investors will also be looking at how Berkshire’s insurance units and BNSF railroad performed.
    Berkshire may face a tough comparison with last year because the company recorded a $7 billion paper gain on the value of its Kraft Heinz Food stock.
    The four analysts surveyed by FactSet expect Berkshire to report operating earnings per Class A share of $3,021.83.
    Buffett says operating earnings are a better measure of quarterly performance because they exclude investments and derivatives, which can vary widely.