Quarterly ResultMay 21, 2026, 06:08 AM
Barnwell Q2 Net Loss $(1.15)M, EPS $(0.09)
AI Summary
Barnwell Industries Inc. reported a net loss attributable to the company of $(1.15) million, or $(0.09) per share, for the second quarter ended March 31, 2026, an improvement from a net loss of $(1.21) million, or $(0.12) per share, in the prior year period. Revenues from continuing operations decreased to $2.54 million from $3.57 million year-over-year. The company's cash and cash equivalents increased to $4.02 million, and it recognized $338,000 in equity in income of affiliates for the quarter.
Key Highlights
- Net loss attributable to Barnwell Industries, Inc. was $(1.15)M for Q2 2026, down from $(1.21)M in Q2 2025.
- Basic and diluted loss per share was $(0.09) for Q2 2026, an improvement from $(0.12) in Q2 2025.
- Total revenues from continuing operations decreased to $2.54M in Q2 2026 from $3.57M in Q2 2025.
- Cash and cash equivalents increased to $4.02M at March 31, 2026, from $2.89M at September 30, 2025.
- Equity in income of affiliates was $338,000 for Q2 2026, compared to nil in Q2 2025.
- Proceeds from stock issuance, net of costs, totaled $3.37M for the six months ended March 31, 2026.
- Net cash used in operating activities from continuing operations was $(2.42)M for the six months.
- The company received $70,000 from a contingent agreement to sell Increment II rights for $2.0M.
Price Impact
More from BRN