Lumexa Imaging Holdings(LMRI) - 2025 Q4 - Annual Results
2026-03-02 11:14
Exhibit 99.1 Lumexa Imaging Announces Preliminary Unaudited Fourth Quarter and Full Year 2025 Results; Provides 2026 Financial Guidance and Earnings Conference Call Date RALEIGH, NORTH CAROLINA, March 2, 2026—Lumexa Imaging Holdings, Inc. ("Lumexa Imaging" or "we"), one of the nation's largest providers of outpatient imaging services, today announced certain preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2025. The financial results included in this release pe ...
UnitedHealth(UNH) - 2025 Q4 - Annual Report
2026-03-02 11:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________ Form 10-K _____________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _ ...
EchoStar(SATS) - 2025 Q4 - Annual Report
2026-03-02 11:04
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission File Number: 001-33807 EchoStar Corporation (Exact name of registrant as specified in its charter) Nevada 26-1232727 (State or ot ...
XOMA(XOMAO) - 2025 Q4 - Annual Results
2026-03-02 11:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): March 2, 2026 XOMA ROYALTY CORPORATION (Commission File Number) Nevada 001-39801 52-2154066 (I.R.S. Employer Identification Number) 2200 Powell Street, Suite 310 Emeryville, California 94608 (Address of Principal Executive Offices) (510) 204-7200 (Registrant's telephone number, including area c ...
XOMA(XOMA) - 2025 Q4 - Annual Results
2026-03-02 11:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): March 2, 2026 XOMA ROYALTY CORPORATION (Exact Name of Registrant as Specified in Charter) (State or Other Jurisdiction of Incorporation) (Commission File Number) Nevada 001-39801 52-2154066 (I.R.S. Employer Identification Number) 2200 Powell Street, Suite 310 Emeryville, California 94608 (Addre ...
Berkshire Hathaway(BRK.B) - 2025 Q4 - Annual Report
2026-03-02 11:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Commission file number 001-14905 BERKSHIRE HATHAWAY INC. (Exact name of Registrant as specified in its charter) Delaware 47-0813844 State or other juris ...
Berkshire Hathaway(BRK.A) - 2025 Q4 - Annual Report
2026-03-02 11:02
☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Securities registered pursuant to Section 12(b) of the Act: or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Commission file number 001-14905 BERKSHIRE HATHAWAY INC. (Exact name of Registrant as specif ...
Berkshire Hathaway(BRK.A) - 2025 Q4 - Annual Report
2026-02-28 15:09
Earnings Performance - Net earnings attributable to Berkshire shareholders were $66.968 billion in 2025, down from $88.995 billion in 2024 and $96.223 billion in 2023[404]. - After-tax other earnings declined by $1.3 billion in 2025 compared to 2024, impacted by foreign currency exchange rate losses and increased goodwill impairment losses[413]. - Net earnings attributable to Berkshire shareholders for 2025 were $3,979 million, a decrease of 1.1% from $4,026 million in 2024[483]. - Investment gains decreased to $39.078 billion in 2025 from $52.799 billion in 2024, with net earnings dropping to $30.737 billion[553]. - Net earnings of natural gas pipelines declined by $81 million in 2025, attributed to higher interest expenses and operating costs[486]. - Net earnings of other energy businesses decreased by $159 million in 2025, primarily due to lower earnings at Northern Powergrid[487]. Insurance Operations - Insurance underwriting generated after-tax earnings of $7.258 billion in 2025, compared to $9.020 billion in 2024 and $5.428 billion in 2023, reflecting lower earnings from underwriting groups[406]. - After-tax earnings from insurance investment income declined by $1.2 billion (8.5%) in 2025 versus 2024, due to lower interest and dividend income[407]. - GEICO's loss ratio was 72.3% in 2025, up from 71.8% in 2024, reflecting higher average claims severities[421]. - Premiums written in 2025 were $18,713 million, slightly lower than $18,836 million in 2024, with significant increases at MedPro (9.0%) and BH Direct (15.8%) offset by declines at GUARD (32.6%) and RSUI (8.7%)[431]. - Losses and LAE decreased by $147 million (1.2%) in 2025 compared to 2024, with a loss ratio decline of 0.7 percentage points; catastrophe losses were approximately $305 million in 2025 compared to $350 million in 2024[432]. - The aggregate claim liabilities for property and casualty insurance were approximately $152 billion as of December 31, 2025[572]. Revenue and Growth - BNSF's after-tax earnings increased by 8.8% in 2025, primarily due to lower operating expenses and improved efficiencies[408]. - Manufacturing, service, and retailing businesses saw a 4.4% increase in earnings in 2025 compared to 2024, despite mixed results across operations[410]. - Energy operating revenues for 2025 reached $21,871 million, a slight increase from $21,566 million in 2024[479]. - Total revenues for 2025 were $26,297 million, compared to $26,348 million in 2024, reflecting a decrease of 0.2%[479]. - Manufacturing revenues for 2025 were $78,487 million, reflecting a 1.6% increase from $77,231 million in 2024[496]. - Service group revenues reached $22.982 billion in 2025, an increase of 11.0% compared to 2024, primarily due to higher revenues from aviation services (9.9%) and IPS (24.2%)[532]. Investment and Financial Position - Pre-tax net investment income decreased by 8.9% in 2025 to $15.261 billion compared to $16.748 billion in 2024, following a 44.6% increase from 2023[454]. - Float increased to approximately $176 billion at December 31, 2025, up from $171 billion in 2024 and $169 billion in 2023[457]. - Berkshire's shareholders' equity at December 31, 2025, was $717.4 billion, an increase of $68.1 billion from December 31, 2024[563]. - As of December 31, 2025, Berkshire's cash, cash equivalents, and U.S. Treasury Bills totaled $369.0 billion[565]. - Berkshire's outstanding debt increased to $22.7 billion as of December 31, 2025, up by $1.6 billion from the previous year[566]. Operational Challenges - Operating revenues from consumer products decreased by 2.8% in 2025 to $8.2 billion, despite a volume increase of 1.2%[465]. - Consumer products group revenues decreased to $14.4 billion in 2025, a decline of 3.0%, primarily due to lower sales volumes at Fruit of the Loom, Jazwares, and Duracell[524]. - Pilot's revenues declined by $4.7 billion (10.0%) in 2025 from 2024, primarily due to significant volume reductions from bulk fuel sales[548]. - Pilot's pre-tax earnings fell by $424 million (69.1%) in 2025 compared to 2024, impacted by lower wholesale fuel margins and higher selling expenses[549]. Claims and Liabilities - GEICO's gross claim liabilities were $27.5 billion as of December 31, 2025, with a net of $26.6 billion after reinsurance[578]. - Estimated liabilities for asbestos and environmental exposures were approximately $11.1 billion at December 31, 2025[600]. - The company expects that the aggregate remaining losses payable under its policies will not exceed $46 billion, with a potential decline of no more than 15% from the estimated gross claims liability[598]. - The company believes a 5% increase in casualty claim liabilities over time is reasonably possible, which could result in an increase of about $1.8 billion in casualty liabilities[596].
Greg Abel's Letters to Berkshire Shareholders
2026-02-28 15:08
Berkshire Hathaway Inc. To My Fellow Berkshire Shareholders, Warren Buffett is arguably the greatest investor of all time, with generations benefiting from his investment acumen. He has also been a remarkable CEO, executing his vision of building a great insurance business since the acquisition of National Indemnity in 1967, and deploying the float to make successful investments across major sectors of the economy, concentrating in the U.S. (To Warren's great frustration, this letter begins with these obser ...
News Releases from Berkshire Hathaway and from Warren Buffett 20260228
2026-02-28 15:05
Earnings Performance - Net earnings attributable to Berkshire shareholders for Q4 2025 were $19,199 million, a decrease of 2.5% from $19,694 million in Q4 2024[5] - Full year net earnings for 2025 were $66,968 million, down 24.7% from $88,995 million in 2024[5] - Operating earnings for Q4 2025 were $10,200 million, a decline of 29.8% compared to $14,527 million in Q4 2024[9] - Insurance-underwriting earnings for Q4 2025 were $1,561 million, down from $3,409 million in Q4 2024[9] - Berkshire's investment income for Q4 2025 was $3,072 million, a decrease from $4,088 million in Q4 2024[9] Investment Gains - Investment gains for Q4 2025 included $13,494 million, significantly higher than $5,167 million in Q4 2024[5] Shareholder Information - Average equivalent Class A shares outstanding remained stable at 1,438,223 for both Q4 2025 and Q4 2024[5] - Average equivalent Class B shares outstanding increased to 2,157,335,139 in Q4 2025 from 2,157,034,121 in Q4 2024[5] Insurance Float - Insurance float increased to approximately $176 billion by December 31, 2025, up $5 billion from year-end 2024[11] Segment Performance - Manufacturing, service, and retailing segment reported operating earnings of $3,370 million in Q4 2025, compared to $3,262 million in Q4 2024[9]