Biglari Holdings Inc. News Release
Biglari Holdings Inc. (NYSE: BH.A; BH) has released its financial results for the second quarter and first six months of 2024. The company reported pre-tax operating earnings of $19,704,000 for Q2 2024, a significant increase from $10,037,000 in Q2 2023. For the first six months, pre-tax operating earnings rose to $25,401,000 in 2024 from $19,086,000 in 2023.
However, the company experienced substantial investment losses of $82,619,000 in Q2 2024, compared to losses of $7,143,000 in Q2 2023. This resulted in a net loss attributable to Biglari Holdings shareholders of $48,190,000 for Q2 2024, in contrast to a net earnings of $1,936,000 in Q2 2023. The company emphasizes that quarterly fluctuations in investments are not considered meaningful for analysis of their operating businesses.
Biglari Holdings Inc. (NYSE: BH.A; BH) ha pubblicato i suoi risultati finanziari per il secondo trimestre e i primi sei mesi del 2024. L'azienda ha registrato un utile operativo ante imposte di 19.704.000 dollari per il Q2 2024, un aumento significativo rispetto a 10.037.000 dollari nel Q2 2023. Nei primi sei mesi, l'utile operativo ante imposte è salito a 25.401.000 dollari nel 2024, rispetto a 19.086.000 dollari nel 2023.
Tuttavia, l'azienda ha subito perdite cospicue dagli investimenti pari a 82.619.000 dollari nel Q2 2024, rispetto a perdite di 7.143.000 dollari nel Q2 2023. Questo ha portato a una perdita netta attribuibile agli azionisti di Biglari Holdings di 48.190.000 dollari per il Q2 2024, in contrasto con un utile netto di 1.936.000 dollari nel Q2 2023. L'azienda sottolinea che le fluttuazioni trimestrali negli investimenti non sono considerate significative per l'analisi delle loro attività operative.
Biglari Holdings Inc. (NYSE: BH.A; BH) ha publicado sus resultados financieros para el segundo trimestre y los primeros seis meses de 2024. La empresa reportó ganancias operativas antes de impuestos de 19.704.000 dólares para el Q2 2024, un aumento significativo en comparación con 10.037.000 dólares en el Q2 2023. En los primeros seis meses, las ganancias operativas antes de impuestos aumentaron a 25.401.000 dólares en 2024, frente a 19.086.000 dólares en 2023.
Sin embargo, la empresa experimentó pérdidas significativas por inversiones de 82.619.000 dólares en el Q2 2024, en comparación con pérdidas de 7.143.000 dólares en el Q2 2023. Esto resultó en una pérdida neta atribuible a los accionistas de Biglari Holdings de 48.190.000 dólares para el Q2 2024, en contraste con ganancias netas de 1.936.000 dólares en el Q2 2023. La empresa enfatiza que las fluctuaciones trimestrales en las inversiones no se consideran significativas para el análisis de sus negocios operativos.
Biglari Holdings Inc. (NYSE: BH.A; BH)는 2024년 2분기 및 상반기 재무 결과를 발표했습니다. 회사는 2024년 2분기 운영 이익이 19,704,000달러로 2023년 2분기의 10,037,000달러에서 상당히 증가했다고 보고했습니다. 상반기 동안 운영 이익은 2024년 25,401,000달러로 증가했으며, 2023년에는 19,086,000달러였습니다.
그러나 회사는 2024년 2분기에 82,619,000달러의 상당한 투자 손실을 경험했습니다, 이는 2023년 2분기의 7,143,000달러 손실에 비해 증가한 수치입니다. 이로 인해 2024년 2분기 Biglari Holdings 주주에게 귀속되는 순손실이 48,190,000달러에 달했습니다, 2023년 2분기의 1,936,000달러 순이익과 대조적입니다. 회사는 투자에서의 분기별 변동이 운영 비즈니스 분석에 있어 의미가 없다고 강조합니다.
Biglari Holdings Inc. (NYSE: BH.A; BH) a publié ses résultats financiers pour le deuxième trimestre et les six premiers mois de 2024. L'entreprise a reporté un bénéfice opérationnel avant impôts de 19.704.000 dollars pour le Q2 2024, une augmentation significative par rapport à 10.037.000 dollars au Q2 2023. Pour les six premiers mois, le bénéfice opérationnel avant impôts a augmenté à 25.401.000 dollars en 2024 contre 19.086.000 dollars en 2023.
Cependant, l'entreprise a subi des pertes d'investissement importantes de 82.619.000 dollars au Q2 2024, par rapport à des pertes de 7.143.000 dollars au Q2 2023. Cela a entraîné une perte nette attribuable aux actionnaires de Biglari Holdings de 48.190.000 dollars pour le Q2 2024, en contraste avec un bénéfice net de 1.936.000 dollars au Q2 2023. L'entreprise souligne que les fluctuations trimestrielles des investissements ne sont pas considérées comme significatives pour l'analyse de leurs activités opérationnelles.
Biglari Holdings Inc. (NYSE: BH.A; BH) hat seine finanziellen Ergebnisse für das zweite Quartal und die ersten sechs Monate des Jahres 2024 veröffentlicht. Das Unternehmen berichtete von einem operativen Ergebnis vor Steuern von 19.704.000 US-Dollar für das Q2 2024, ein erheblicher Anstieg von 10.037.000 US-Dollar im Q2 2023. Für die ersten sechs Monate stieg das operative Ergebnis vor Steuern auf 25.401.000 US-Dollar im Jahr 2024 gegenüber 19.086.000 US-Dollar im Jahr 2023.
Das Unternehmen erlitt jedoch erheblichen Investitionsverluste in Höhe von 82.619.000 US-Dollar im Q2 2024, verglichen mit Verlusten von 7.143.000 US-Dollar im Q2 2023. Dies führte zu einem Nettoverlust von 48.190.000 US-Dollar, der den Aktionären von Biglari Holdings für das Q2 2024 zuzurechnen ist, im Gegensatz zu einem Nettogewinn von 1.936.000 US-Dollar im Q2 2023. Das Unternehmen hebt hervor, dass vierteljährliche Schwankungen bei den Investitionen für die Analyse ihrer operativen Geschäfte nicht als signifikant angesehen werden.
- Pre-tax operating earnings increased to $19,704,000 in Q2 2024 from $10,037,000 in Q2 2023
- First six months pre-tax operating earnings improved to $25,401,000 in 2024 from $19,086,000 in 2023
- Investment losses of $82,619,000 in Q2 2024, significantly higher than $7,143,000 loss in Q2 2023
- Net loss attributable to shareholders of $48,190,000 in Q2 2024 compared to net earnings of $1,936,000 in Q2 2023
- First six months net loss of $25,611,000 in 2024 versus net earnings of $66,822,000 in 2023
Insights
Biglari Holdings' Q2 2024 results present a mixed picture. Pre-tax operating earnings doubled to
The company's six-month performance shows a similar trend: improved operating earnings but substantial investment losses. This stark contrast between operating and investment performance highlights the volatility in Biglari's investment portfolio. The company's emphasis on separating operating results from investment fluctuations is prudent, given the unpredictable nature of market movements.
For investors, it's important to focus on the 33
Biglari Holdings' Q2 results underscore the importance of distinguishing between operating performance and investment outcomes. The dramatic swing from a
This volatility highlights a key risk for Biglari shareholders: the company's significant exposure to market fluctuations. While the improved operating earnings are encouraging, the magnitude of investment losses raises questions about the company's risk management strategies.
Investors should consider:
- The sustainability of operating improvements
- The company's investment strategy and risk tolerance
- The potential for future earnings volatility
Biglari Holdings Inc.'s earnings for the second quarter and first six months of 2024 and 2023 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 | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Pre-tax operating earnings | $ 19,704 | $ 25,401 | |||||
Investment gains (losses) | (82,619) | (7,143) | (58,921) | 69,083 | |||
Income taxes and income attributable to noncontrolling interest | 14,725 | (958) | 7,909 | (21,347) | |||
Net earnings (loss) attributable to Biglari Holdings shareholders | $ 1,936 | ||||||
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, 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.
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SOURCE Biglari Holdings Inc.
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