(Source: Bloomberg, May 7, 2016)
FORT WORTH, Texas — Berkshire Hathaway said Friday that quarterly profits from Fort Worth-based BNSF Railway fell 25 percent to the lowest level in two years, contributing to the drop in operating earnings at Warren Buffett’s company. First-quarter net income at BNSF declined to $784 million from $1.05 billion a year earlier, the company said in a regulatory filing. Berkshire’s overall net income climbed 8.2 percent to $5.59 billion as investment gains outweighed the slump in the railroad and insurance operations. That figure was disclosed April 30, when Buffett released a brief summary of results at Berkshire’s annual meeting in Omaha, Neb.
Full story: Fort Worth Star Telegram