Warren Buffett will speak at the Berkshire Hathaway Annual Shareholders Meeting held in Omaha, Nebraska on May 3, 2025.
CNBC
Berkshire Hathaway on Saturday reported a slight decline in second quarter operating revenues as Warren Buffett’s conglomerate warns of a negative impact from steep US tariffs.
Berkshire’s operating profit – profits from companies that are fully owned by insurance and railroads immersed 4% in the second quarter to $111.6 billion year-on-year. The results were affected by a decline in underwriting, but rail, energy, manufacturing, services and retail all brought higher profits for a year ago.
The Omaha-based conglomerate has once again issued a harsh warning about President Donald Trump’s tariffs and the potential impact on various businesses.
“The pace of change in these events, including tensions caused by international trade policy and tariff development for the first six months of 2025, was mentioned in the revenue report. “There is considerable uncertainty remaining regarding the ultimate outcome of these events.”
“It is reasonably possible that most, if not all, if not all, of our operating companies and investments in equity securities that could have a significant impact on future outcomes,” he said.
Buffett’s cash bin, which is $344.1 billion, remains close to record highs, although slightly below the $347 billion level at the end of March. Berkshire has been a net seller of stock for consecutive quarter, dumping $4.5 billion in shares in the first six months of 2025.
The conglomerate also did not buy back its shares in the first half of 2025, despite stocks falling more than 10% from their record highs.
Berkshire wrote down a $3.8 billion loss from the Kraftheinz Stake, the longtime underperformer of the conglomerate. The consumer goods giant is focusing on spin-offs of the grocery business. The two Berkshire executives resigned from the board of Kraft Heinz in May.
This is the first revenue report since 94-year-old Buffett announced he would resign as CEO at the end of 2025. Greg Abel, vice-chairman of Berkshire’s non-insurance business, is set to take over as CEO, while Buffett will serve as chairman of Berkshire’s board of directors.
