저자: WarrenBuffett · 외국인
요약 보기
워런 버핏은 크래프트 하인즈가 2016~2017년 실적을 정정(restatement)한다는 공시 소식에 대해 설명했다. 정정 영향은 각 연도 조정 이익의 2% 미만으로 예상되며, 조사 결과 구매 부서 직원들의 비위가 확인됐으나 고위 경영진은 연루되지 않았다고 한다. 버크셔는 크래프트 하인즈 지분이 20% 이상이어서 배당이 아닌 지분법 이익을 보고하는데, 1분기 실적 발표 시점에 감사 승인이 나지 않아 이익을 0으로 기재했다. 버핏은 감사 완료 후 정정 실적이 반영되면 버크셔도 이익을 재집계해야 할 수 있다고 봤다. 버핏은 감사위원장 잭 포프 등 독립이사들을 신뢰한다며 경영진에 대한 신뢰를 유지한다고 밝혔다. 크래프트 하인즈 인수가 과도했다는 점을 인정했으나, 투자 원금의 50% 이상 가치를 유지하고 있다고 설명했다. 과도하게 지불한 투자는 자본 배분 측면에서 손실이며 주식 투자에서도 흔한 일이라고 언급했다. 주가 방향에 대한 구체적인 단기 예측이나 목표가는 제시되지 않았다.
다듬은 글
all right welcome back everybody we are here and news is breaking there's just an SEC filing that came out from Kraft Heinz that's obviously a big Berkshire Hathaway holding Kraft Heinz says that it will restate earnings for 2016 and 2017 due to Miss statements in the original filings it does not however believe that the mistake Minh SAR what they call quantitatively material to any individual reporting period it says that the impact on adjusted earnings it's expected to be less than 2% for each year Kraft Heinz says that it has now completed an investigation that shows several employees in its procurement operation engaged in misconduct but none of those were members of senior management our guest today again is warren buffett he's the chairman of Berkshire Hathaway whit's owns a major portion of Kraft Heinz and Warren what do you think of this this news just hitting while we're sitting here well that's more or less what I've heard I'm not on the board anymore but but gray able and crazy a bit cooler on and so I've heard from them and this is this is an update that I heard last night that and they can't they can't issue the first quarter reports until the 10k is filed and they can't file with 10k till Pricewaterhouse signs off on it and and that apparently is going to require a restatement of a few years and we could not report any earnings from Kraft Heinz in the first quarter because if we get a dividend from Bank of America that dividend goes into earnings but because we have over 20% of Kraft Heinz we don't report report the dividends we report the earnings so we received a dividend of about 130 million in the first quarter but that we don't report that and and we expected to get the earnings before we issued our own report but when the time came to our report and we didn't have anything we just would put a zero in there and explained it in our release last Saturday and that's just a further at indication of the facts as they stand now at some point Price Waterhouse will need to be happy with the figures they're reporting and that evidently involves Restatement and at that time my guess is the quarterly figures become quite current and that we keep picking up our share of the the earnings I mean this has been a long standoff period between PwC and the company if they've missed all the deadlines to get the numbers to you at that point wouldn't help we didn't expect it I thought that we would have the earrings on on time and and Kraft announced earnings for last year but they had not been signed off on by their auditors so while they released them publicly they couldn't file the 10k with the SEC subsequently that's not unusual for companies to announce earnings before they've actually got the sign-off but in anybody that's just you know we thought we were gonna get them this week or next week whatever it might be and and then last Saturday came and that's our time for releasing quarterly earnings we did not have them so we stuck nothing in there and a footnote and we put in our press release as well that we just didn't have the figures if they're restating their earnings does that mean Berkshire Hathaway will also have to restate its earnings and I'll bet it would it would be sullen material by the time you take just our shares were much larger company so that I don't exactly what we do when we get if it gets into the second quarter I don't whether to pick up two quarters and one quarter or exactly how that works they said that this is the they've wrapped up this investigation are you satisfied with what you've heard from that part of the investigation or do you know that I don't know about that I do know that because I've been I've been kept abreast of some of the things I don't listen in on directors calls or anything like that but but Greg tells me what's the high points of what or the low points of what's happening we have a terrific head of the Audit Committee Jack Pope he's an independent director he he knows this sort of thing and he and he and he's put in the hours on it and so I feel very good about about the fact that jacket is he's really in charge of things from the standpoint of the directors does the company have your confidence company has my competence you had talked about it over the weekend where you said that what you paid for craft was too much in hindsight exactly not what you paid for Heinz that's correct we just wines would it be a better investment and we don't we don't 50 odd just over 50% of it of the business of doing fine in relation to the what we paid for it but in a situation where you determine that you've now paid too much what do you do I paid too much for stocks I paid too much for a lot of things time usually works it out but it it means that capital could have been better deployed in other in other areas you can always pay too much for a business and I've done it with stocks many times I've done it with businesses we've got we've got at Berkshire we have at least a half a dozen businesses and I can't even use what we there I got to say I paid so and if we make the next ten deals we make then there will be a couple worlds or not that I paid too much you
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