Quarterly ResultAug 12, 2026, 06:07 AM
Barnwell Q3 Revenue $3.38M, Net Loss Narrows to $0.40M
AI Summary
Barnwell Industries reported significantly improved financial results for its third fiscal quarter ended June 30, 2026, with revenue increasing and net loss narrowing sequentially. The company achieved positive Adjusted EBITDA, increased oil and gas production, and continued cost reduction initiatives. Barnwell also announced an agreement to divest its Hawai‘i real estate development activities and is actively evaluating strategic M&A opportunities across various industries.
Key Highlights
- Q3 2026 revenue increased to $3,379,000 from $2,535,000 in Q2 2026.
- Consolidated net loss improved to $403,000 in Q3 2026 from $1,116,000 in Q2 2026.
- Net loss attributable to shareholders was $0.03 per share in Q3 2026, down from $0.09 per share in Q2 2026.
- Oil and gas production increased 9% to 82,000 BOE in Q3 2026 from 75,000 BOE in Q2 2026.
- Achieved positive Adjusted EBITDA of $425,000 in Q3 2026, up from negative $369,000 in Q2 2026.
- Maintained a debt-free balance sheet with $4,467,000 in cash and cash equivalents.
- Entered agreement to sell Hawai‘i real estate interests for approximately $1,550,000.
- Shareholder Rights Plan expired on July 29, 2026, and was not renewed.
Price Impact
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