PRC Approves Temporary Rate Adjustments for 2022 Peak Holiday Season

HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced that it has acquired The Long & Foster Companies, Inc., the largest private residential real estate company in the United States by sales volume. The acquisition includes Long & Foster’s family of companies, including Long & Foster Real Estate and its market-leading affiliated business lines in mortgage, settlement services, insurance, and property management. Financial terms of the transaction were not disclosed.

Midland Paper, Packaging & Supplies, one of North America's largest independent distributors of media for business communications, is excited to feature Diamond Print Glitter at Dscoop 2018 in Dallas TX. Diamond Print Glitter is a brand new product developed by Harmony Paper that is unlike any other product on the market. Offering a tactile finish, the shimmer and shine you expect from traditional glitter paper, with none of the shedding, flaking or cracking, Diamond Print Glitter application opportunities are endless. The 3 Star RIT rated sheet is made using environmentally friendly materials and proprietary, patent pending coatings in a process that allows a wide variety of substrate versions. The Diamond Print Glitter product line will be available from Midland Paper in sizes for both series 3 and series 4 HP Indigo presses. Click Read More below for additional information.

Fourth Quarter 2022 - Net sales increased 9% to $149.2 billion in the fourth quarter, compared with $137.4 billion in fourth quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with fourth quarter 2021. Operating income decreased to $2.7 billion in the fourth quarter, compared with $3.5 billion in fourth quarter 2021. Fourth quarter 2022 operating income includes approximately $2.7 billion of charges for changes in estimates related to self-insurance liabilities, impairments of property and equipment and operating leases, and estimated severance costs. These charges primarily impacted the North America segment. Net income decreased to $0.3 billion in the fourth quarter, or $0.03 per diluted share, compared with $14.3 billion, or $1.39 per diluted share, in fourth quarter 2021. All share and per share information for comparable prior year periods throughout this release have been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022. Full Year 2022 - Net sales increased 9% to $514.0 billion in 2022, compared with $469.8 billion in 2021. Excluding the $15.5 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 13% compared with 2021. Operating income decreased to $12.2 billion in 2022, compared with $24.9 billion in 2021. Net loss was $2.7 billion in 2022, or $0.27 per diluted share, compared with net income of $33.4 billion, or $3.24 per diluted share, in 2021.