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Berkshire Hathaway (NYSE: BRK), a multinational conglomerate holding company, is one of the largest and most well-respected entities in the world. Founded by Warren Buffett, Berkshire Hathaway is renowned for its diverse portfolio of wholly owned subsidiaries and strategic equity investments.
The company's core business operations span across various industries, including insurance, rail transportation, energy generation and distribution, manufacturing, retail, and services. Notable subsidiaries include GEICO, BNSF Railway, Berkshire Hathaway Energy, and NetJets, among others.
Recently, Berkshire Hathaway's aviation subsidiary, NetJets, has been in the spotlight for labor relations issues. NetJets pilots, represented by the NetJets Association of Shared Aircraft Pilots (NJASAP), have faced aggressive managerial tactics, including intimidation and disciplinary investigations related to lawful union activities. Despite a five-year collective bargaining agreement, tensions remain high as union members strive to ensure their rights and improve operational conditions.
Additionally, the NetJets Unions Coalition (NUC) has been relaunched, emphasizing the importance of collaborative efforts between various union groups representing different employee sectors within NetJets. This coalition aims to address pressing issues such as discipline increases, operational concerns, and safety.
Financially, Berkshire Hathaway remains robust, consistently delivering strong performance across its diversified holdings. The company's strategic acquisitions and investments, guided by Buffett's value investing principles, have contributed to its long-term success and stability.
Berkshire Hathaway continues to focus on growth and sustainability, leveraging its substantial resources and expertise to capitalize on new opportunities while managing risks effectively. With a vast array of businesses under its umbrella, the company is well-positioned to maintain its status as an industry leader and a reliable investment choice for shareholders.
Berkshire Hathaway has released its financial results for Q4 and full-year 2024. The company reported significant investment fluctuations, with Q4 2024 showing after-tax gains of $2.1 billion, while the full year experienced after-tax losses of $38.1 billion. This contrasts with 2023's performance, which saw after-tax gains of $29.5 billion in Q4 and $53.0 billion for the full year.
The company's realized gains were substantial in 2024, reaching $3.1 billion in Q4 and $79.6 billion for the full year. Share repurchases totaled approximately $2.9 billion during 2024. As of December 31, 2024, there were 1,438,223 Class A equivalent shares outstanding. The company's insurance float increased by $2 billion to approximately $171 billion compared to year-end 2023.
Duracell announced the relocation of its Research and Development (R&D) headquarters to Atlanta, Georgia. The new facility will be housed in the Science Square Labs building, set to open in Summer 2026. The move is expected to create over 100 jobs in Atlanta and will feature state-of-the-art laboratories, modern collaborative workspaces, and advanced technology infrastructure.
The strategic decision was driven by Atlanta's vibrant technology ecosystem, access to top-tier talent, and proximity to manufacturing facilities. The company will provide comprehensive support programs and resources to assist with the relocation process. Georgia Tech President Ángel Cabrera welcomed the collaboration, emphasizing the bridge between academia and industry.
Berkshire Hathaway has announced that its 2024 Annual Report will be released on Saturday, February 22, 2025, at approximately 8:00 a.m. eastern time on their website. The report will include Warren Buffett's annual letter to shareholders, information about the company's financial position, operational results, and details about the upcoming Shareholders Meeting scheduled for May 3, 2025.
The company will simultaneously issue an earnings release alongside the Annual Report. Berkshire Hathaway operates across diverse sectors including insurance, reinsurance, utilities, energy, freight rail transportation, manufacturing services, and retailing, with its common stock listed on NYSE under symbols BRK.A and BRK.B.
Duracell made its debut in Super Bowl advertising with a creative 30-second spot featuring Tom Brady and The Duracell Scientist. The commercial showcases Brady appearing to have a 'power outage' during a broadcast with FOX announcer Kevin Burkhardt, before being 'rescued' by The Duracell Scientist using batteries with Power Boost™ Ingredients.
The campaign connects Brady's reputation of being 'Built Different' with Duracell's unique Power Boost technology. Brady, a seven-time champion and five-time MVP, endorsed Duracell's commitment to innovation and pushing boundaries. The ad was created through a collaboration between VaynerMedia, Shadow Lion, EssenceMediacom, and Citizen Relations.
Warren Buffett announced the conversion of 1,600 Class A shares into 2,400,000 Class B shares of Berkshire Hathaway for distribution to four family foundations. The distribution includes 1,500,000 shares to The Susan Thompson Buffett Foundation and 300,000 shares each to The Sherwood Foundation, The Howard G. Buffett Foundation, and NoVo Foundation. This conversion reduces Buffett's Class A holdings to 206,363 shares, representing a 56.6% decrease since his 2006 pledge. Buffett discusses his philanthropic philosophy, family wealth distribution strategy, and the requirement for unanimous decision-making among his children regarding foundation actions.
Williams Racing and Duracell have announced a multi-year extension of their Formula 1 partnership ahead of the Las Vegas Grand Prix. The collaboration, which began in 2022, will continue into 2025 and beyond, featuring Duracell's iconic copper and black battery design on the Williams airbox. The partnership includes the FW47 to be driven by Alex Albon and Carlos Sainz. Duracell joins recent partnership extensions with Kraken and Gulf Oil International, demonstrating continued confidence in Williams' transformation strategy. The announcement coincides with special DRS flap branding at the Las Vegas GP, where Williams is incorporating Duracell's battery design elements.
Batteries Plus and Duracell have announced their fifth consecutive partnership with the U.S. Marine Corps Toys for Tots Campaign, pledging to donate over one million batteries this holiday season. This year's donation, ten times larger than last year's, is driven by customer participation in the nationwide 'Buy One, Give One' promotion, where Batteries Plus donates a pack of AA or AAA Duracell batteries for every pack purchased.
The initiative addresses a important need, as Toys for Tots requires batteries for all donated toys before distribution to families in need. Customers can also donate new toys at their nearest Batteries Plus store for the annual campaign.
Berkshire Hathaway reported Q3 2024 net earnings of $26.25 billion, compared to a loss of $12.77 billion in Q3 2023. Operating earnings reached $10.09 billion in Q3 2024, slightly down from $10.76 billion in Q3 2023. For the first nine months of 2024, net earnings totaled $69.30 billion, up from $58.65 billion in 2023.
The company's insurance float increased by $5 billion to $174 billion since year-end 2023. Berkshire repurchased approximately $2.9 billion of its shares during the first nine months of 2024. Notable performance includes insurance-investment income of $3.66 billion in Q3 2024, up from $2.47 billion in Q3 2023.
Berkshire Hathaway has announced that it will release its third quarter earnings report and Form 10-Q on Saturday, November 2, 2024, at approximately 7:00 a.m. Central time. The financial documents will be accessible through the company's website at www.berkshirehathaway.com.
Duracell has been announced as the official battery partner of the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2024. The partnership includes sponsorship of one of the Las Vegas Strip Circuit™ DRS Zones, where Duracell's iconic copper & black colors will be prominently displayed. This collaboration merges high-speed innovation with top-tier performance, highlighting Duracell's Power Boost™ Ingredients.
The partnership will feature gantry LED animated boards, trackside signage, and unique rooftop branding around the circuit. Additionally, Williams Racing, Duracell's partner since 2022, will turn the DRS flaps on both drivers' FW46 rear wings into a Duracell battery and change the color of the DRS button on the steering wheels to Duracell copper.
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