In the second quarter of this year, Warren Buffet's company was a net buyer of stocks, cut back on share purchases, and overcame troubling inflation to post broad-based growth.
The head of the non-insurance operations of the company was given almost a billion dollars in exchange for his stake in the company.
This is the first thing. They keep buying.
In the last quarter, the team spent a net $3.8 billion buying and selling stock. They likely capitalized on the S&P 500's 20% tumble between the start of April and mid-June, as a Markets Insider analysis of SEC filings shows they spent about $1 billion on Occidental Petroleum stock.
In the first quarter, Warren Buffet's company deployed an astounding $51 billion in stock. In both 2020 and 2021, the company was a net seller of stock.
There are two Referring to purchases.
Less than a third of the $3.2 billion it deployed in the first quarter was used to buy back stock in the second quarter.
When the stock price of the company ranged from $300 to $350, it didn't buy back any shares. It might have found a better use for its money, or it might have found a better value for its stock.
It's possible that Warren Buffet and his team resumed their purchases after the stock fell below $270 in June.
There are three. There is a windfall for the successor of Buffet.
The former boss of Mid American Energy was paid $870 million by the company. As a result of the deal, the stake in BHE was increased to 92.1%. The remaining shares are held by the estate of a man who was close to Warren Buffet.
Some of his payment may be used to purchase stock in the company before he takes the CEO reins from Buffet.
There are four. Most cylinders were fired on.
Revenues increased by 10% as sales rose across its insurance, railroad, energy, manufacturing, wholesale, service, and retailing businesses.
The Burlington Northern Sante Fe (BNSF) railway grew revenue by 14 percent to $6.6 billion while the manufacturing segment increased sales by 14 percent to nearly $20 billion.
Earnings from the conglomerate's operating businesses increased by 16% to $10 billion, fueled by a 56% increase in insurance profits and a 12% increase in manufacturing income.
The company swung from a $626 million profit in the second quarter to a $487 million loss in the third quarter due to higher used car prices and shortages of car parts.
The lower profits were due to the high costs.
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