Berkshire released its third-quarter report on Saturday, and successor Greg Abel significantly ramped up buybacks this quarter.
If you still hold the stock, note that the market won’t price in this report until Monday’s open.
Operating earnings were down year over year, mainly because insurance underwriting wasn’t as profitable as it was last year.
Railroads, energy, and manufacturing were all up, though.
The company bought back about $9.6 billion of its own shares this quarter—more than it spent on buybacks in the entire first half of the year.
It still has more than $300 billion in cash on its books, and this quarter it was clearly more willing to spend it buying back its own shares.
It had already gained ground during last week’s sell-off in tech stocks.
But the quarterly report hadn’t come out yet, and the stock closed Friday at around $571.
I’m inclined to think the market will initially take the scale of the buybacks as a sign of confidence.
On Monday, watch how the market digests the weakness in insurance, and whether the faster pace of buybacks can keep money flowing into the stock.
$BRK.B
#美股财报 #Share buybacks
If you still hold the stock, note that the market won’t price in this report until Monday’s open.
Operating earnings were down year over year, mainly because insurance underwriting wasn’t as profitable as it was last year.
Railroads, energy, and manufacturing were all up, though.
The company bought back about $9.6 billion of its own shares this quarter—more than it spent on buybacks in the entire first half of the year.
It still has more than $300 billion in cash on its books, and this quarter it was clearly more willing to spend it buying back its own shares.
It had already gained ground during last week’s sell-off in tech stocks.
But the quarterly report hadn’t come out yet, and the stock closed Friday at around $571.
I’m inclined to think the market will initially take the scale of the buybacks as a sign of confidence.
On Monday, watch how the market digests the weakness in insurance, and whether the faster pace of buybacks can keep money flowing into the stock.
$BRK.B
#美股财报 #Share buybacks
