(Source: Omaha World-Herald, May 1, 2016)
OMAHA, Neb. — Berkshire Hathaway said Saturday that first-quarter profit fell 12 percent on lower earnings from the key railroad and energy units. The largest contributors, BNSF Railway and Berkshire Hathaway Energy, which operates utilities and electricity transmission units, had operating earnings fall 16 percent to $1.2 billion. Rail shipments at Texas-based BNSF have fallen 8 percent so far this year on slumping demand from shippers of food, fuel, fiber and other commodities such as crude oil. Buffett said rail shipments “probably will continue to be down — almost certainly will continue to be down — the balance of the year.”
Full story: Omaha World-Herald