Berkshire Hathaway Inc. - BRK.A STOCK NEWS

Berkshire Hathaway reported a net earnings of $28,094 million for Q2 2021, surpassing $26,295 million in Q2 2020. The first half of 2021 saw a net earnings of $39,805 million, in contrast to a loss of $23,451 million in the same period last year. Operating earnings also increased to $6,686 million in Q2 2021 from $5,513 million in Q2 2020, contributing to a total of $13,704 million for the first six months.

Additionally, $6.0 billion was allocated for share repurchases in Q2 2021, totaling $12.6 billion for the first half of the year.

Berkshire Hathaway Inc. is set to release its second quarter earnings and Form 10-Q report on August 7, 2021, at 7:00 a.m. Central time. The earnings report will be accessible online at www.berkshirehathaway.com. Berkshire Hathaway operates across various sectors, including insurance, utilities, and retail. The company cautions that certain statements in the release are forward-looking and does not intend to update these projections.

Dominion Energy (NYSE: D) and Berkshire Hathaway Energy announced the termination of the planned sale of Questar Pipelines due to uncertainties with Federal Trade Commission clearance. This decision, effective July 9, 2021, does not affect the previous sale of gas transmission assets completed in November 2020. Dominion is initiating a competitive sale process for Questar Pipelines, aiming for completion by year-end 2021. The company will account for the pipelines as discontinued operations and plans to secure a 364-day loan to repay a $1.3 billion deposit to Berkshire Hathaway Energy.

GreenPower Motor Company (NASDAQ: GP) announced the delivery of five EV Star Cab and Chassis units to Forest River, a Berkshire Hathaway Company (NYSE: BRK.A). This marks a significant step in Forest River's electrification strategy, as they integrate GreenPower's electric platform with their renowned vehicle bodies. Forest River, a leader in the recreational vehicle market, sold its 100,000th bus in July 2020 and generates over $5 billion in annual revenue. The partnership aims to tap into the substantial market for electric cutaway buses, with Forest River selling approximately 9,000 units per year in this segment.

MiTek, owned by Berkshire Hathaway, has launched a Modular Initiative in partnership with Danny Forster & Architecture. This initiative aims to meet the rising demand for sustainable, affordable buildings by developing a Modular Activation Platform (MAP). The platform will simplify modular construction for builders and architects, allowing wider adoption across various sectors including hospitality and healthcare. MiTek's Modular Laboratory will enhance manufacturing processes, making modular building more accessible. The company has a strong history of innovation in building solutions and employs over 5,600 worldwide.

MiTek Inc., a Berkshire Hathaway company (NYSE: BRK-A, NYSE: BRK-B), has announced the realignment of three key brands—Benson Curtain Wall, SidePlate Connection Designs, and Ultra-Span Trusses—into a unified MiTek portfolio. This strategic move aims to meet the increasing demand for efficient, sustainable building solutions. Customers will continue to benefit from the same services while gaining access to new innovations and software solutions under the MiTek brand. CEO Mark A. Thom emphasized the importance of integration for enhancing customer value and addressing global construction challenges.

Berkshire Hathaway's operating results for Q1 2021 reported net earnings of $11.7 billion, rebounding from a $49.7 billion loss in Q1 2020. Operating earnings rose to $7.0 billion from $5.9 billion. Investment gains were $4.7 billion compared to losses of $55.6 billion the previous year. Insurance float reached approximately $140 billion, increasing by $2 billion since 2020. Berkshire repurchased $6.6 billion in shares during the quarter, with 1,525,655 Class A equivalent shares outstanding as of March 31, 2021.

Berkshire Hathaway will hold its 2021 Annual Shareholders Meeting on May 1, 2021, at 1:30 p.m. ET, accessible via live stream due to restrictions on physical attendance. The company will also release its first quarter earnings and Form 10-Q report on the same day at 8:00 a.m. ET. Shareholders can view these documents on www.berkshirehathaway.com. Berkshire operates in various sectors including insurance, utilities, and manufacturing, and its common stock trades as BRK.A and BRK.B.

Berkshire Hathaway announces its reinstatement of the employee bracket contest for the NCAA Tournament, after a hiatus due to the pandemic. The contest, starting with a $100,000 prize for the first correct picks, escalates to $1 million for perfect first-round selections and an annuity for perfect first and second-round picks. A potential double prize is available if Berkshire's favored team, Creighton, reaches the final four. This initiative aims to foster engagement among employees, reflecting on past successes where participants nearly achieved perfect brackets.