Berkshire Hathaway Earnings: Forward Guidance Likely To Weigh on the Company's Shares in Near Term

Having dug deeper into wide-moat Berkshire Hathaway's first-quarter results, we expect to leave our $555,000 ($370) per Class A (B) share fair value estimate in place. Operating subsidiary top-line growth of 20.5% (which excludes the impact of investment and derivative gains/losses and other adjustments), was in line with our expectations, which had envisioned the contributions from both Alleghany's operations (folded in during the fourth quarter of 2022) and the onboarding of Pilot Travel Centers (at the end of January 2023).