Berkshire Hathaway reported a pre-tax profit in 2016 of $1.18 billion across its building products businesses, which includes Shaw Industries and Lenmar owner Benjamin Moore. The figure is 0.85 percent higher than its building products pre-tax profit of $1.17 billion in 2015.
The profit came from revenues of $10.77 billion across its building products businesses in 2016, a 4.36 percent increase compared with sales of $10.32 billion in 2015.
Berkshire Hathaway attributed the building products performance to “volume-drive revenue increases by MiTek, Johns Manville, Acme and Shaw,” as well as acquisitions, including the acquisition of USFloors by Shaw, according to the company’s SEC filing.
The filing continued: “Shaw, Johns Manville and Benjamin Moore generated most of the comparative increase in earnings” among Berkshire’s building products businesses.
Berkshire’s overall profit in 2016 was $24.07 billion, a 0.04 percent decrease compared with its profit of $24.08 billion in 2015. The company recorded $223.6 billion in sales in 2016, a 6 percent increase compared with sales in 2015 of $210.94 billion.
