By Jonathan Stempel (Reuters) – Berkshire Hathaway (BRK-A, BRK-B) shares rose to a record on Monday after the conglomerate run by Warren Buffett posted its highest-ever quarterly profit, driven by improvement in insurance operations. The price of Berkshire’s Class A shares rose as much as 4.3% to $749,611 by early afternoon, NYSE data show. That…
HanesBrands board of directors has started the process of finding a new CEO (chief executive) and has engaged the services of consultancy Spencer Stuart to assist in identifying suitable candidates for the role. The upcoming CEO transition comes as the company’s quarterly and annual performance outpaced projected key indicators, signalling the effective implementation of its…
By Daniel Leussink TOKYO (Reuters) – Toyota Motor is expected to post its first profit drop in two years when it reports second-quarter earnings on Wednesday, signalling cooling demand after a run of robust earnings helped by a consumer shift away from electric vehicles. The world’s largest automaker is nonetheless expected to deliver almost $8…
FRANKFURT (Reuters) -Luxury sportscar maker Porsche AG on Friday warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month operating profit to fall by more than a quarter. “For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets…
Consolidated Revenue: $22.2 billion, an increase of 5.6% year-over-year. Consolidated Operating Profit: $2 billion, up 22.8% from last year. Consolidated Operating Margin: 8.9%, an increase of 120 basis points compared to last year. Diluted Earnings Per Share: $1.76, up 12.1% from the third quarter of 2023. US Domestic Revenue: $14.5 billion, up 5.8% year-over-year. US…