Earnings ·
Barnwell Industries reported third-quarter fiscal results ending June 30, 2026, showing improved sequential…
BRNBarnwell Industries Inc
Barnwell Industries reported third-quarter fiscal results ending June 30, 2026, showing improved sequential performance with revenue rising to $3.38 million from $2.54 million and net loss narrowing to $403,000 from $1.12 million. Net loss attributable to shareholders decreased to $440,000 ($0.03 per share) compared to $1.15 million in the prior quarter, driven by a 9% increase in oil and gas production to 82,000 barrels of equivalent and higher pricing. The company generated positive Adjusted EBITDA of $425,000 versus negative $369,000 previously, while maintaining a debt-free balance sheet with $4.47 million in cash. Additionally, the shareholder rights plan expired on July 29, 2026, and management announced an agreement to sell its remaining Hawaii real estate interests for approximately $1.55 million in cash. Barnwell Industries operates in the oil and gas exploration and production sector while evaluating strategic transformational opportunities.