Berkshire Hathaway 2nd Quarter Earnings

Berkshire Hathaway released its 2nd Quarter earnings this afternoon. Click for the full earnings statement.

Berkshire profit up 25 percent as insurance helps, BNSF weighs (CNBC)

Berkshire Hathaway on Friday said second-quarter profit rose 25 percent, helped by improved results from insurance underwriting and investments and the purchase of Precision Castparts, Warren Buffett's largest-ever acquisition.

But operating results fell short of analyst forecasts, as depressed oil prices and coal demand weighed on volume at the conglomerate's BNSF railroad unit.

Net income for Omaha, Nebraska-based Berkshire rose to $5 billion, or $3,042 per Class A share, from $4.01 billion, or $2,442, a year earlier.

Operating profit rose 18 percent to $4.61 billion, or $2,803 per Class A share, from $3.89 billion, or $2,367. [...]

Revenue rose 6 percent to $54.46 billion. Book value per share, Buffett's preferred measure of growth, rose 1.7 percent from the end of March to $160,009.

That makes the current Price/Book Value 1.36 based on today's closing price. The threshold for stock buybacks is below a P/BV of 1.2.