homebusiness Newscompanies NewsWarren Buffett's Berkshire Hathaway to host shareholders' annual meeting today: Key things to watch out for

Warren Buffett's Berkshire Hathaway to host shareholders' annual meeting today: Key things to watch out for

During the shareholder meeting, Buffett and Vice Chairman Charlie Munger will take questions for approximately five hours. Berkshire Hathaway's Vice Chairman for non-insurance operations Greg Abel is expected to succeed Warren Buffett as CEO, as the company has a succession plan in place.

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By CNBCTV18.com May 6, 2023 1:30:44 PM IST (Updated)

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Warren Buffett's Berkshire Hathaway to host shareholders' annual meeting today: Key things to watch out for
Billionaire investor Warren Buffett’s Berkshire Hathaway is set to host its annual shareholder meeting on Saturday, with an expected attendance of up to 30,000 shareholders. Based on limited analyst projections, Berkshire Hathaway's total revenue for Q1 2023 is projected to be $83.8 billion, marking a 22 percent increase from the numbers in the same period last year, Investopedia reported.

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The report added that the net income is also expected to see a significant rise, reaching $8.32 billion, up by 52 percent from Q1 of the previous year. The return on equity for Berkshire is anticipated to jump to 6.8 percent from 4.57 percent in the corresponding quarter last year.
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Berkshire Hathaway will likely see a sharp spike in earnings from "Investments and Derivatives," where the company suffered significant losses last year. The company's investments are expected to post a profit of $790 million, reversing last year's $1.5 billion loss as markets wobbled. Berkshire Hathaway's insurance segment is expected to report a net income of $600 million, indicating a significant 49 percent YoY increase.
During the shareholder meeting, Warren Buffett and Vice Chairman Charlie Munger will answer questions from shareholders for approximately five hours on Saturday. Although inflation and Fed rate hikes were hot topics last year, there may be considerable interest in the value investors' thoughts on the recent regional banking turmoil, the news agency Reuters reported.
Berkshire Hathaway's Vice Chairman for non-insurance operations Greg Abel is expected to succeed Warren Buffett as CEO, as the report added that the company has a succession plan in place.
The meeting will also see shareholders present six proposals for Berkshire to address, including climate change, diversity, political advocacy, and a renewed call for the company to install someone other than Buffett as chairman.

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