BIGLARI HOLDINGS INC. NEWS RELEASE
Rhea-AI Summary
Biglari Holdings Inc. (NYSE: BH.A; BH) has announced the publication of its 2024 Annual Report to shareholders, which is now accessible on their website www.biglariholdings.com. The report includes Chairman Sardar Biglari's annual letter to shareholders and details the company's financial performance for Q4 and full-year 2024-2023.
The company emphasizes that quarterly and annual investment fluctuations should not be considered meaningful indicators of performance. They recommend analyzing operating businesses separately from investment gains for a more accurate assessment of company performance.
Positive
- None.
Negative
- None.
Biglari Holdings Inc.'s earnings for the fourth quarter and full year of 2024 and 2023 are summarized below. To become fully apprised of our results, shareholders should carefully study our 10-K, which has been posted at www.biglariholdings.com.
(dollars in thousands) | |||||||
Fourth Quarter | Year Ended December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Pre-tax operating earnings.................................................................................. | $ 3,896 | $ 3,812 | $ 32,569 | $ 43,196 | |||
Investment gains (losses)................................................................................... | (21,856) | 46,882 | (40,723) | 21,651 | |||
Income taxes and income attributable to noncontrolling interest............................. | 7,687 | (6,054) | 4,395 | (9,899) | |||
Net earnings (loss) attributable to Biglari Holdings shareholders............................. | $ (10,273) | $ 44,640 | $ (3,759) | $ 54,948 | |||
Analysis of Results:
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-302389280.html
SOURCE Biglari Holdings Inc.
FAQ
Where can investors access Biglari Holdings' 2024 Annual Report?
What key documents are included in Biglari Holdings' (BH) 2024 annual report?
How does Biglari Holdings (BH) recommend analyzing their business performance?
What financial periods are covered in Biglari Holdings' latest earnings report?
