Earnings ·
Biglari Holdings reports $26.4M net earnings for first nine months of 2026
BHBiglari Holdings Inc.
Biglari Holdings Inc. announced financial results for the third quarter and first nine months ended September 30, 2026. The company reported pre-tax operating earnings of $12.0 million for the period, compared to $20.5 million in the prior year. Investment gains contributed $22.1 million, resulting in net earnings of $26.4 million, up from $12.4 million a year earlier. In the third quarter alone, pre-tax operating earnings were $9.9 million against investment losses of $8.5 million, yielding net earnings of $1.0 million versus a loss of $5.3 million previously. Steak n Shake same-store sales increased 18.2% in Q3. Biglari Holdings Inc. is a holding company with subsidiaries engaged in insurance, licensing and media, restaurants, and oil and gas.