Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) is facing the heat from global trade tensions and tariff headwinds, as weak insurance and investment hits dragged down its second-quarter performance reported on Saturday morning.
The Omaha-based company’s operating earnings dipped 3.8% to $11.16 billion in the latest quarter. Sluggish insurance underwriting and a bruising $3.8 billion blow from its stake at The Kraft Heinz Company (NASDAQ:KHC) weighed on profits.
According to the Berkshire report, the decline was largely driven by a 12% plunge in insurance-underwriting profit, which came in at $1.99 billion for the second quarter, down from $2.26 billion a year prior.
The quarterly report marks the first earnings announcement since 94-year-old Warren Buffett announced he will step down as CEO at the end of 2025.
Greg Abel, currently vice-chairman overseeing non-insurance operations, is slated to succeed him as CEO. Buffett will …