Warren Buffett’s Berkshire Posts 8% Drop in Operating Earnings as Railroad Business Sags

Berkshire Hathaway

operating earnings declined 8% in the fourth quarter to $6.7 billion after taxes, hurt by a drop in profits at the company’s railroad business and a decline in the U.S. dollar.

 Excluding the dollar’s fall, which increased the value of the company’s foreign-currency debt, Berkshire’s operating earnings for the period would have risen about 13% from the fourth quarter of 2021, to $7.9 billion.