Quarterly ResultMay 8, 2026, 04:23 PM
Biglari Holdings Q1 Loss Narrows to $(14.5M); Revenue Up 2.6%
AI Summary
Biglari Holdings Inc. reported a net loss of $(14.5) million for the first quarter of 2026, a significant improvement from the $(33.3) million loss in the prior year. Total revenues increased by 2.6% to $97.5 million, driven by growth in restaurant operations and licensing and media. The company also issued common stock under an At-the-Market program, raising $14.9 million, and saw an increase in cash provided by operating activities.
Key Highlights
- Net loss for Q1 2026 was $(14.5) million, significantly reduced from $(33.3) million in Q1 2025.
- Total revenues increased 2.6% to $97.5 million in Q1 2026 from $95.0 million in Q1 2025.
- Net loss per average equivalent Class A share improved to $(55.81) from $(126.40) year-over-year.
- Restaurant operations revenue rose to $66.1 million in Q1 2026 from $64.3 million in Q1 2025.
- Licensing and media revenue surged to $3.3 million in Q1 2026 from $1.4 million in Q1 2025.
- Net cash provided by operating activities increased to $20.3 million from $15.8 million.
- Issued common stock under an ATM program, generating $14.9 million in Q1 2026.
- Investment partnership losses significantly narrowed to $(13.5) million from $(49.6) million.