Berkshire Hathaway Reports Decline in Shaw's Earnings
Omaha, NE, Aug. 4, 2014 -- Shaw Industries recorded a pre-tax earnings decline for the second quarter due to lower margins, according to parent company Berkshire Hathaway's quarterly report.
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As usual, the report provided no specific information about Shaw's performance or how its individual flooring sectors performed.
Overall, Berkshire reported a profit of $6.4 billion, or $3,889 a Class A share, compared with $4.54 billion, or $2,763 a share, in the year-earlier period. Revenue rose 11% to $49.76 billion, from $44.69 billion.
Per-share book value, a measure of assets minus liabilities that is CEO Warren Buffett's preferred yardstick for measuring net worth, rose 5.6% since year-end 2013, standing at $142,483 a Class A share as of June 30.
Berkshire's building products business, which includes Shaw, recorded sales of $2.7 billion and $4.9 billion, respectively, for the first quarter and six months. That represented increases of 6% and 5% over 2013.
Pre-tax earnings of the building products businesses in 2014 increased 14% in the second quarter and 10% in the first six months compared to 2013. Each business generated increased earnings in 2014 over 2013, with the exception of Shaw.