BIGLARI HOLDINGS INC. NEWS RELEASE
Rhea-AI Summary
Biglari Holdings (NYSE: BH.A; BH) has released its Q2 and H1 2025 financial results. The company reported Q2 2025 net earnings of $50.9 million, compared to a loss of $48.2 million in Q2 2024. The results were driven by investment gains of $61.4 million in Q2 2025, contrasting with losses of $82.6 million in the same period last year.
The company's restaurant chain, Steak n Shake, demonstrated strong performance with a 10.7% increase in same-store sales for both company-owned and franchise-partner locations during Q2 2025. Pre-tax operating earnings were $3.7 million in Q2 2025, down from $19.7 million in Q2 2024.
Positive
- None.
Negative
- Pre-tax operating earnings declined to $3.7M in Q2 2025 from $19.7M in Q2 2024
- Operating business performance weakened despite investment gains
News Market Reaction 1 Alert
On the day this news was published, BH gained 3.31%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Biglari Holdings Inc.'s earnings for the second quarter and first six months of 2025 and 2024 are summarized below. To become fully apprised of our results, shareholders should carefully study our 10-Q, which has been posted at www.biglariholdings.com.
(dollars in thousands) | |||||||
Second Quarter | First Six Months | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Pre-tax operating earnings | $ 3,673 | $ 19,704 | $ 13,667 | $ 25,401 | |||
Investment gains (losses) | 61,429 | (82,619) | 10,252 | (58,921) | |||
Income taxes | (14,171) | 14,725 | (6,263) | 7,909 | |||
Net earnings (loss) | $ 50,931 | $ (48,190) | $ 17,656 | $ (25,611) | |||
Analysis of Results:
In the second quarter of 2025, Steak n Shake's same-store sales for company and franchise-partner restaurants each increased by
Investments affect our reported quarterly earnings based on their carrying value. We do not regard the quarterly or annual fluctuations in our investments to be meaningful. Therefore, our operating businesses are best analyzed before the impact of investment gains. As a consequence, in the preceding table we separate earnings of our operating businesses from our investment gains.
About Biglari Holdings Inc.
Biglari Holdings Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas.
Comment on Regulation G
This press release contains certain non-GAAP financial measures. In addition to the GAAP presentations of net earnings, Biglari Holdings defines pre-tax operating earnings outside of the investment gains/losses of the Company.
Risks Associated with Forward-Looking Statements
This news release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ markedly from those projected or discussed here. Biglari Holdings cautions readers not to place undue reliance upon any such forward-looking statements, for actual results may differ materially from expectations. Biglari Holdings does not update publicly or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. Further information on the types of factors that could affect Biglari Holdings and its business can be found in the Company's filings with the SEC.
View original content:https://www.prnewswire.com/news-releases/biglari-holdings-inc-news-release-302525561.html
SOURCE Biglari Holdings Inc.
FAQ
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