Berkshire Hathaway (BRK-A, BRK-B) reported first-quarter results, which appear to be slightly stronger than analysts expect.
First quarter operating income increased from $ 5.29 billion a year ago to $ 5.55 billion. This was higher than analysts expected $ 5.29 billion. (Note that the operating income does not include quarterly profits or losses from Berkshire's investment and derivatives portfolios.)
It is very important to note that Berkshire's results do not reflect the impact of Kraft's recent (KHC) problems , In February, the packaged food company reported weak profits and made weak predictions. reported a massive $ 15.4 billion in impairment charges, primarily related to the Kraft and Oscar Mayer brands; announced that he had received a SEC summons regarding his accounting practice; and announced a dividend reduction. Share crashed in the news.
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " [ Click here to read the coverage of the Annual General Meeting of Berkshire Hathaway 2019 .] "data-responsid =" 18 "> Click here for coverage of the 2019 Berkshire Hathaway Shareholders' Meeting .]
"Kraft Heinz has not filed the 2018 Form 10-K on the Securities and Exchange Commission on May 3, 2019. In addition, Kraft Heinz Berkshire has not provided the financial statements for the first quarter of 2019. Accordingly, Berkshire does not have the necessary financial information to determine its stake in Kraft Heinz's earnings for the first quarter of 2019. As a result, Berkshire's other operating income excludes this amount in the first quarter of 2019. "
On Saturday, Berkshire CEO Warren Buffett told reporters it was" pretty unusual "that a company had not yet filed its 10-K. Many businesses of Berkshire Hathaway ” class=”StretchedBox W(100%) H(100%) ie-7_H(a)” src=”https://s.yimg.com/ny/api/res/1.2/.Plv8sjO2w_wfqm4fBDvkw–~A/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9ODAwO2lsPXBsYW5l/https://img.huffingtonpost.com/asset/5ccd9482240000a0002c3c8c.png.cf.jpg” itemprop=”url”/>