Berkshire Hathaway's Class A shares fall after $3.8 billion write-down, operating profit weakness
The write-down of Berkshire Hathaway's 27.4% stake in Kraft Heinz, its second for the company, reflects a significant decline in the value of the investment.
Berkshire had taken a $3 billion write-down in Kraft Heinz in 2019.
The conglomerate also reported a 4% dip in operating income, which fell from $11.6 billion the year earlier, as underwriting premiums fell and trade policy uncertainties hurt most of Berkshire's consumer businesses.
The Omaha, Nebraska-based company, which has not repurchased any shares since May 2024, indicated it remains cautious about market valuations amid ongoing uncertainty over tariffs and economic growth.
Class A shares of the company, which have gained about 2% in 2025, lagged the benchmark S&P 500 index. The stock shed gains since Buffett's announcement to step down as the CEO of the conglomerate at the end of the year.
Buffett, 94, has led the company for over five decades.
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EnerCom Announces Andrew Rapp, Senior Advisor in the U.S. Department of Energy, as Keynote Speaker on August 18th at EnerCom's 30th Anniversary Energy Investment Conference
Qualified Investors and Analysts Can Register at No Cost at Deadline to Submit One-on-One Meeting Requests to Presenting Companies is Friday, August 8th Registration still available for EnerCom Denver – The Energy Investment Conference, featuring a broad group of public and private energy companies at DENVER, Aug. 6, 2025 /PRNewswire/ -- EnerCom, Inc., a leading energy consulting and strategic communications firm, is pleased to announce that Andrew Rapp, Senior Advisor in the U.S. Department of Energy, has been confirmed as the keynote luncheon speaker on Monday, August 18th, at EnerCom Denver – The Energy Investment Conference. Other keynote speakers participating in the conference include Ron Gusek, CEO of Liberty Energy, Chris Zamarin, CEO of Williams, and Craig Bealmear, CFO of Oklo. For the past 30 years, EnerCom Denver has been the largest independent investor conference for the global oil and gas and broadening energy industry that is open to all energy companies, investors, and professionals to participate. This year's conference will occur August 17-20, 2025, at The Westin Denver Downtown. Institutional investors, portfolio managers, family offices, financial analysts, CIOs, and other investment community and industry professionals are encouraged to register now for EnerCom Denver at The conference is free for qualified investment professionals. About Andrew Rapp Andrew Rapp is a Senior Advisor in the United States Department of Energy, where he works closely with Secretary Chris Wright to advance energy abundance, reliability, and security in the United States and abroad. Prior to his appointment to the Department of Energy, Andrew was a co-founder and Vice-Chairman of Petrie Partners, an energy-focused, boutique investment bank specializing in strategic transaction advisory assignments. Before forming Petrie in 2011, Andrew was a Managing Director of Bank of America Merrill Lynch in the Energy and Power Group. Andrew joined Bank of America Merrill Lynch as part of Merrill Lynch's acquisition of Petrie Parkman & Co. in 2006. During his 25-year investment banking career, Andrew completed 185 merger, divestiture, joint venture, and financing transactions totaling over $200 billion in consideration while working with public and private energy companies and sovereign entities throughout the United States and the world. He advised on 30 corporate mergers involving publicly traded companies, including the $68 billion merger of Pioneer Natural Resources and ExxonMobil, the largest energy transaction of the 21st century, and largest global transaction in 2024. Andrew earned his B.A. in Economics, Policy Studies, and Managerial Studies from Rice University. The full schedule for the conference can be found at EnerCom Denver Investor Conference Details In its 30th year, the conference kicks off with the annual Charity Golf Tournament on Sunday, August 17th at the scenic Arrowhead Golf Club. The golf event is sponsored by global sponsor Netherland, Sewell & Associates and EnerCom. The tournament is a fundraiser for IN! Pathways to Inclusive Higher Education. By participating in the charity golf tournament, requiring a $150 donation, you directly contribute to creating inclusive college opportunities in Colorado for students with intellectual disabilities and fostering academic growth, social development, and career advancement. EnerCom Denver also hosts a Monday Mixer cocktail reception after day one of conference presentations, which is sponsored by ATB Capital Markets. This valuable opportunity for attendees to enjoy appetizers, drinks, and live music while networking with other conference participants and key representatives from the energy industry shouldn't be missed. Casino Night, sponsored by CAC Specialty, follows day two of the conference; experience the entertainment, fun, and excitement of playing in a real casino environment with "funny money" (no cash value, for entertainment only) at the poker, blackjack, roulette, and craps tables manned by professional dealers. This year will also include a charity poker tournament. Join us for a night of revelry, music, good food, and drinks, and it is open to all conference attendees. Please join us after the conference concludes on Wednesday afternoon with a closing reception as we reflect on the 2025 Conference. Institutional investors, portfolio managers, family offices, financial analysts, CIOs, and other investment community and industry professionals are encouraged to register now for EnerCom Denver at The conference is free for qualified investment professionals. Companies interested in presenting can contact Larry Busnardo at lbusnardo@ Sponsorship opportunities are available by contacting Blanca Andrus at bandrus@ The presenting company lineup as of August 5, 2025, includes: Advantage Energy (TSX: AAV) Amplify Energy (NYSE: AMPY) Anschutz Exploration APA Corp. (NASDAQ: APA) Armstrong Oil & Gas Aureus Energy Services Baytex Energy (NYSE/TSX: BTE) Berry Corporation (NASDAQ: BRY) Bison Oil & Gas IV BKV (NYSE: BKV) Blackbeard Operating bpx energy (NYSE: BP) CanCambria Energy (TSXV: CCEC; OTCQB: CCEYF) Deep Blue Water Deep Fission Deep Isolation Diversified Energy (NYSE/LSE: DEC) DNOW (NYSE: DNOW) Drilling Tools International (NASDAQ: DTI) EnerCom Energy Fuels (NYSE: UUUU; TSX: EFR) Eni SpA (NYSE: E) EOG Resources (NYSE: EOG) Epsilon Energy (NASDAQ: EPSN) ESal Flotek Industries (NYSE: FTK) Freehold Royalties (TSX: FRU) Fundare Resources Gondola Resources Gran Tierra Energy (NYSE/TSX/LSE: GTE) Granite Ridge Resources (NYSE: GRNT) GreenFlare Technology Haynes Boone Hemisphere Energy (TSX: HME; OTCQX: HMENF) Kelt Exploration (TSX: KEL) KODA Liberty Energy (NYSE: LBRT) Logan Energy (TSXV: LGN) LOGOS Energy Mach Natural Resources (NYSE: MNR) Meren Energy (TSX: MER) NCS Multistage (NASDAQ: NCSM) New Era Helium (NASDAQ: NEHC) NuVista Energy (TSX: NVA) NXT Energy Solutions (TSX: SFD; OTCQB: NSFDF) Oklo (NYSE: OKLO) Parex Resources (TSX: PXT; OTCMKTS: PARXF) Petrie Partners PGIM Private Capital Prairie Operating (NASDAQ: PROP) Precision Drilling (NYSE: PDS; TSX: PD) Prospera Energy (TSX: PEI; OTC: GXRFF) Providence Energy Raisa Energy ReconAfrica (TSXV: RECO; OTCQX: RECAF; Frankfurt: 0XD) Renewell Energy Riley Permian (NYSE: REPX) Ring Energy (NYSE: REI) SandRidge Energy (NYSE: SD) Saturn Oil & Gas (TSX: SOIL; OTCQX: OILSF) Select Water Solutions (NYSE: WTTR) SM Energy (NYSE: SM) Solestiss Spartan Delta (TSX: SDE) Surge Energy America Tamarack Valley Energy (TSX: TVE) Tenaz Energy (TSX: TNZ) Teren Ubiterra U.S. Energy Development Corporation UpCurve Energy Valeura Energy (TSX: VLE; OTCQX: VLERF) Verde EOR Solutions Vermilion Energy (NYSE/TSX: VET) Vero3 Vitesse Energy (NYSE: VTS) Whitecap Resources (TSX: WCP) Williams (NYSE: WMB) Zephyr Energy (AIM: ZPHR; OTCQB: ZPHRF) Conference Overview Conference Details: EnerCom Denver offers investment professionals a unique opportunity to network and listen to senior management teams from leading companies across the energy value chain update investors on their operational and financial strategies and learn how they create value for stakeholders. Conference Dates: August 17–20, 2025. EnerCom will host its annual Charity Golf Tournament on Sunday, August 17th at the scenic Arrowhead Golf Club in Littleton, Colorado. Benefitting IN! Pathways to Inclusive Higher Education, the Golf Tournament requires a $150 charity donation to participate. Formal presentations and meetings will be held Monday, August 18th, through Wednesday, August 20th. Venue: Westin Denver Downtown. Please book rooms under the EnerCom Denver block. We encourage attendees to book their reservations as soon as possible, as rooms sell out. Who Attends the Conference: Institutional investors, family offices, high-net-worth investors, private equity, research analysts, retail brokers, trust officers, investment and commercial bankers, and energy industry professionals gather in Denver for the conference. Conference Format and Details: The EnerCom Denver conference follows EnerCom's familiar 25-minute presentation format, followed by 50-minute Q&A opportunities in separate breakout rooms, one-on-one meetings, and multiple networking opportunities. In addition to in-person access to all company presentations, panel discussions, and keynote speakers, conference registration allows investors and management teams to meet formally and informally over cocktails, breakfast, and lunch. About EnerCom, Inc.: Founded in 1994, EnerCom, Inc. has been a trusted advisor to the global energy industry, working with clients to differentiate and deliver targeted messages to investors. Headquartered in Denver, EnerCom is an internationally recognized strategic communications and management consultancy that advises companies on investor relations, corporate strategy/board advisory, fractional/interim CFO advisory services, marketing, financial analysis and valuation, media, branding, and visual communications design. For more information about EnerCom and its services, please visit or call (303) 296-8834 to speak with one of our consultants. EnerCom Denver Sponsors Include: Netherland, Sewell & Associates, Inc. (NSAI) Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. Haynes Boone Haynes Boone is an energy-focused corporate law firm that provides a full spectrum of legal services and solutions to clients across the energy industry, including the upstream, midstream, and downstream sectors as well as power and renewables. Our team of more than 100 energy lawyers and landmen has been helping operators, lenders, and private equity firms with some of their most complex and significant transactions and disputes in recent years. The firm's nearly 700 lawyers practice across 19 global offices located in California, Colorado, Illinois, New York, North Carolina, Texas, Virginia, Washington, D.C., London, Mexico City, and Shanghai. The 2023 Chambers USA Legal Guide ranked 31 different firm practice areas, and in 2024, Haynes Boone became the first Am Law 100 firm to ever earn a Gold-level Bell Seal from Mental Health America. The U.S. News & World Report and Best Lawyers "Best Law Firms" 2023 survey ranked Haynes Boone in National Tier 1 in Oil & Gas Law. Baker Botts For over 100 years, Baker Botts has been helping energy clients tackle the toughest of their legal challenges. Our deep bench of experienced transactional, environmental, litigation, regulatory, IP, and tax lawyers has helped companies all across the energy industry. Throughout this time we have served as trusted advisors to companies working in every sector of energy — from oil and gas to conventional and renewable power to renewable fuels to LNG and many other related areas. Much of this work has involved our clients' development and deployment of new energy technologies, which has allowed our lawyers to practice at the cutting edge of every energy "revolution" since the turn of the last century. Wherever significant energy is produced in the world, Baker Botts lawyers work to advance our clients' objectives in the boardroom, the courtroom, and on-the-ground, drawing upon our deep understanding of the complex legal, technical and policy issues that they face. ATB Capital Markets ATB Capital Markets offers holistic corporate and capital markets advice, combined with customised financial solutions to help businesses thrive. We're a full-service financial services provider for key industries. Backed by ATB Financial, a leading financial institution with $62.0 billion in assets, ATB Capital Markets helps clients with services that include investment and corporate banking, sales and trading, institutional research, and risk management. CAC Specialty CAC Specialty is an employee owned risk solutions company of seasoned and proactive industry leaders, operating as a nimble and collaborative partner who puts you and your business first. With a knowledge-driven approach informed by industry data and decades of honed instinct, CAC brings an innovative vision to insurance broking and merchant banking by providing solutions to solve your risk challenges – from the simple to the previously unsolvable. Backed by a $40B AUM asset manager and not constrained by traditional risk transfer thinking, CAC can expand the range of risk transfer through access to private debt and alternative pools of risk capital. bpx energy bpx energy, bp's US onshore business, operates in the Permian, Eagle Ford, and Haynesville basins. Headquartered in Denver, bpx embodies the entrepreneurial spirit of a domestic U.S. onshore producer – utilizing next level technology to safely increase production while lowering emissions, and leveraging other integrated bp business like supply, trading and shipping to maximize value. Petrie Partners Petrie Partners, LLC is a boutique investment banking firm dedicated to the energy industry. The senior leadership has a multi-decade legacy of delivering specialized advice on mergers and acquisitions, asset transactions and valuations, and financings to the boards and managements of public, private, and sovereign entities. Petrie clients benefit from the independent, conflict-free perspective and unwavering advocacy of their best interests that the team brings to every engagement. Vitesse Energy Vitesse is a Denver-based company focused on returning capital to stockholders through owning and acquiring predominantly non-operated working interests in oil and gas properties in the Williston Basin of North Dakota and Montana. The Company also owns non-operated interests in the Central Rockies, including the Denver-Julesburg Basin and the Powder River Basin. IMA IMA Financial Group is an independent broker, defining the future of insurance through comprehensive and consultative risk and wealth management services. A majority employee-owned and managed company, its 2,300-plus associates in offices across the country are empowered by a shared mission to manage risk, protect assets, and make a difference. Oil & Gas 360® The Media Sponsor of Enercom Denver, Oil & Gas 360® is a one-stop source of news, information, and analysis from the professionals at EnerCom, Inc. The website is dedicated to all things energy: people, technologies, transactions, trends, and macro-economic analysis that impact our industry. Oil & Gas 360 View original content to download multimedia: SOURCE EnerCom, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
