Berkshire Hathaway's (BRK.B) Q3 2024 financial performance shows a robust increase in net earnings attributable to shareholders, reaching $26,251 million compared to a loss of $12,767 million in Q3 2023. This significant turnaround is largely driven by substantial investment gains of $16,161 million, contrasting with a loss of $23,528 million in the previous year.

The company's total revenues for Q3 2024 were $92,995 million, slightly down from $93,210 million in Q3 2023. This marginal decline in revenue is primarily due to a decrease in utility and energy operating revenues, which fell from $19,033 million in Q3 2023 to $16,598 million in Q3 2024.

Insurance operations continue to be a strong contributor, with underwriting earnings of $750 million in Q3 2024, although this is a decrease from $2,422 million in Q3 2023. Investment income from insurance operations increased significantly to $3,664 million from $2,470 million in the previous year.

BNSF and Berkshire Hathaway Energy (BHE) both reported increased earnings. BNSF's earnings rose to $1,383 million from $1,221 million, while BHE's earnings increased to $1,629 million from $498 million in Q3 2023.

The manufacturing, service, and retailing segment saw a slight decrease in earnings, reporting $3,144 million compared to $3,341 million in Q3 2023. This segment's performance reflects broader economic conditions impacting consumer spending and industrial demand.

Berkshire's balance sheet remains strong, with total liabilities of $515,445 million as of September 30, 2024, up from $499,208 million at the end of 2023. Shareholders' equity increased to $631,806 million from $567,509 million, reflecting the company's solid financial position and ability to generate shareholder value.

The company's disclosure controls and procedures were evaluated and deemed effective, with no significant changes in internal control over financial reporting during the quarter. This indicates a stable and well-managed operational environment.

Overall, Berkshire Hathaway's Q3 2024 results demonstrate strong financial health, driven by investment gains and solid performance in key segments like BNSF and BHE, despite challenges in the insurance underwriting and manufacturing sectors.