Berkshire 1st quarter

[gunfyter]

First quarter of 2013 revenues of our other service businesses were $2.1 billion, an increase of $165 million (8.5%) compared to 2012. Pre-tax earnings in the first quarter of 2013 were $209 million, an increase of $11 million (6%) versus 2012. The increases reflected increased revenues and earnings from NetJets, BH Media Group and TTI. The increase in revenues at NetJets was primarily due to increased sales of fractional aircraft shares. Earnings at NetJets increased primarily due to improved flight operations margins, fractional sales margins and reduced net financing costs. The revenues and earnings increases from BH Media Group and TTI were primarily a result of bolt-on business acquisitions in 2012.

 

[SDCFI]

Yeah, so we're gonna need you guys to take concessions on the new contract. And come in on Sunday too, mkay?

 

[G4dude]

First quarter of 2013 revenues of our other service businesses were $2.1 billion, an increase of $165 million (8.5%) compared to 2012. Pre-tax earnings in the first quarter of 2013 were $209 million, an increase of $11 million (6%) versus 2012. The increases reflected increased revenues and earnings from NetJets, BH Media Group and TTI. The increase in revenues at NetJets was primarily due to increased sales of fractional aircraft shares. Earnings at NetJets increased primarily due to improved flight operations margins, fractional sales margins and reduced net financing costs. The revenues and earnings increases from BH Media Group and TTI were primarily a result of bolt-on business acquisitions in 2012.

I'm feeling better already, guns.

 

[CALRepublic]

First quarter of 2013 revenues of our other service businesses were $2.1 billion, an increase of $165 million (8.5%) compared to 2012. Pre-tax earnings in the first quarter of 2013 were $209 million, an increase of $11 million (6%) versus 2012. The increases reflected increased revenues and earnings from NetJets, BH Media Group and TTI. The increase in revenues at NetJets was primarily due to increased sales of fractional aircraft shares. Earnings at NetJets increased primarily due to improved flight operations margins, fractional sales margins and reduced net financing costs. The revenues and earnings increases from BH Media Group and TTI were primarily a result of bolt-on business acquisitions in 2012.

Thanks for posting this information Gunfyter.

Once again, we (employees) have to guess how much profit we actually contributed to the Berkshire empire. I don't understand why they can't just tell us what our net income was ( in dls & cents). Keep us informed as to how the company is doing, JEEZ

I was about to go hunting for this information, so thanks

Cheers

 

[gutshotdraw]

The increase in revenues at NetJets was primarily due to increased sales of fractional aircraft shares. Earnings at NetJets increased primarily due to improved flight operations margins, fractional sales margins and reduced net financing costs.

THIS is the most important section. THIS is trend information. These indicators have been steadily, if slowly, improving for a year. THIS is why Jordy and company are in a hurry to get a cheap deal done quickly before the inattentive members of the pilot group realize earnings and profits are exploding.

 

[CALRepublic]

THIS is the most important section. THIS is trend information. These indicators have been steadily, if slowly, improving for a year. THIS is why Jordy and company are in a hurry to get a cheap deal done quickly before the inattentive members of the pilot group realize earnings and profits are exploding.

"Earnings and profits are exploding"

Oh how I wanna believe you ( and I hope you're right). I'm still very worried about what will happen to us once Mr. Buffett picks a successor. I bet we are one of his worst investments ever. I'm sure every now and then he looks at us and goes "what the F*** was I thinking"

 

[gutshotdraw]

"Earnings and profits are exploding"

Oh how I wanna believe you ( and I hope you're right). I'm still very worried about what will happen to us once Mr. Buffett picks a successor. I bet we are one of his worst investments ever. I'm sure every now and then he looks at us and goes "what the F*** was I thinking"

Well, we always knew that the best way to make a small fortune in aviation....

Was to start with a large one....

But there are so many ways to calculate the true value of the investment, some of which can't be known unless and until the company is sold.

Regardless, NetJets has now been posting a profit on OPERATIONS for two years. That is something they NEVER did at NJA before although NJI was operationally profitable every year of its existence except 2008 (that means somebody, somewhere knows how to do it with this business model).

The idea was always to make the REAL money on buying aircraft at a discount and re-selling the shares at retail.

It now looks as if the company has cracked the code on how to do BOTH at the same time. Do I give the EMT credit for this? Not much. It's mathematics.

Cyclical business recovery drives greater aircraft utilization and inflation escalators in the owner contracts keep revenue numbers rising while employee wages stagnate with no COLA and fierce competition among suppliers keep costs in check.

We'd be doing even better if management wasn't blinded by the dazzle of metrics and actually knew how to take care of the customer.


And, as an aside, Uncle Warren will name his successor from the grave so wish long, long life to the Oracle and hope somebody tells him to knock off the Big Macs...

 

[gunfyter]

http://video.foxbusiness.com/v/2350949851001/netjets-ceo-significant-strengthening-in-us/

You're watching...
NetJets CEO: Significant Strengthening in U.S.

NetJets CEO Jordan Hansell on where the company is seeing the biggest growth and how it prepared for sequestration.

 

[VGerect]

reporter- speaking of pilots, are you hiring?

jordy- we are not at the moment hiring...

Any idea what "not at the moment" means in jordy speak?

 

[gunfyter]

Yes. Not this current decade.