BNSF profits boost Berkshire earnings
Written by William C. Vantuono, Editor-in-ChiefBerkshire Hathaway has reported that operating earnings for the second quarter and first six months of 2010 increased 72.7% and 52.0% from the comparable periods in 2009.
“BNSF was the major contributor adding $885 million to net earnings since our acquisition on Feb. 12, 2010, including $603 million during the second quarter,” said the company in an earnings statement released Aug. 6. Another major reason for the improvement occurred at NetJets with a swing from a pre-tax loss of $348.5 million in the first six months of 2009 to a pre-tax profit of $114.5 million in 2010.
Berkshire paid $26.5 billion in February for the share of BNSF it did not already own.
