Berkshire Hathaway reported that its subsidiary Shaw Industries Inc. (Dalton. Ga.) was its only building products business with lower earnings in the third quarter of 2014 than in the same period last year.
While Berkshire’s third quarter report did not provide figures for Shaw, it did state that the decrease in Shaw earnings was due to lower gross sales margins from comparatively higher manufacturing costs. Shaw revenues also declined because of the closure of its rugs division in early 2014, according to the report.
Berkshire Hathaway’s profit in the third quarter decreased to $4.6 billion from $5.05 billion year-over-year.
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