Biglari Holdings INC

Market Movers (8-K)

NYSE
Biglari Holdings reported a net loss of $14.5 million for the first quarter of 2026, an improvement over the $33.3 million loss in the same period last year.
NYSE
Biglari Holdings Inc. announced its fourth quarter and full-year 2025 earnings, reporting a substantial net loss driven by investment performance.
Worse than expected
NYSE
Biglari Holdings reports strong Steak n Shake sales growth and potential affiliate stock purchases while its stock trades below book value.
Better than expected
NYSE
Biglari Holdings Inc. announced its financial results for the third quarter and first nine months of 2025, highlighting a significant increase in Steak n Shake same-store sales despite a net loss in Q3 due to investment performance.
Worse than expected
NYSE
Biglari Holdings' subsidiary, Steak n Shake, secured a $225 million loan with an 8.80% fixed interest rate, while Biglari Holdings simultaneously terminated a $75 million line of credit.
Capital raise
NYSE
Biglari Holdings' subsidiary, Steak n Shake, announced approximately 15% same-store sales growth for its U.S. operations in the third fiscal quarter.
Better than expected

Quarterly Earnings (10-Q)

NYSE
Biglari Holdings reported a net loss of $14.5 million for the first quarter of 2026, driven by investment partnership losses.
Capital raise
NYSE
Biglari Holdings Inc. reported a net loss of $5.3 million in the third quarter of 2025, primarily due to investment partnership losses, despite robust revenue growth in its restaurant and insurance segments.
Worse than expected
Capital raise
NYSE
Biglari Holdings Inc. reported a significant swing to net earnings in Q2 2025, primarily driven by substantial gains from its investment partnerships, alongside revenue growth in restaurant and brand licensing segments.
Better than expected
NYSE
Biglari Holdings Inc. announces a net loss for the first quarter of 2025, primarily driven by losses from investment partnerships, despite revenue increases in restaurant and oil and gas operations.
Worse than expected
NYSE
Biglari Holdings experienced a net profit of $32.1 million in the third quarter of 2024, a significant turnaround from a $56.5 million loss in the same period last year, primarily due to investment gains.
Better than expected
NYSE
Biglari Holdings experienced a net loss of $48.19 million in the second quarter of 2024, primarily due to significant losses in investment partnerships, despite some positive performance in restaurant operations.
Worse than expected

Annual Reports (10-K)

NYSE
Biglari Holdings Inc. filed an amendment to its annual report to include the audited financial statements of The Lion Fund II, L.P., which reported significant decreases in partners' capital and negative returns for 2024 and 2025.
Delay expected
Worse than expected
Capital raise
NYSE
Biglari Holdings Inc. reported a net loss of $37.488 million for fiscal year 2025, primarily driven by significant losses in investment partnerships, despite revenue growth in restaurant and insurance segments.
Worse than expected
Capital raise
NYSE
Biglari Holdings files an amendment to its annual report on Form 10-K to include the audited financial statements of The Lion Fund II, L.P. for the years 2022-2024.
Delay expected
Worse than expected
NYSE
Biglari Holdings Inc.'s 2024 10-K filing reveals a net loss attributable to shareholders, driven by investment partnership losses and offset by gains in oil and gas, alongside identified material weaknesses in internal control over financial reporting.
Worse than expected
NYSE
Biglari Holdings has filed an amendment to its annual report to include the audited financial statements of The Lion Fund II, L.P.
Better than expected
Delay expected
NYSE
Biglari Holdings Inc. released its 2023 annual report, detailing performance across its diverse business segments including restaurants, insurance, oil and gas, and brand licensing.
Better than expected

Insider Trading (Form 4)

NYSE
Sardar Biglari and 5 others reported changes in beneficial ownership of Biglari Holdings Inc. common stock on July 29, 2026.
NYSE
Sardar Biglari and 5 others reported changes in beneficial ownership of Biglari Holdings Inc. common stock on July 17, 2026.
NYSE
Sardar Biglari and 5 others reported changes in beneficial ownership of Biglari Holdings Inc. common stock on July 14, 2026.
NYSE
Sardar Biglari and 5 others reported changes in beneficial ownership of Biglari Holdings Inc. common stock on July 13, 2026.
NYSE
Sardar Biglari and associated entities reported the sale of El Pollo Loco Holdings, Inc. common stock.
NYSE
Sardar Biglari and associated entities reported the sale of El Pollo Loco Holdings, Inc. common stock across multiple transactions in late June 2026.

Proxy Statements (Def-14A)

NYSE
Biglari Holdings Inc. will hold its annual shareholder meeting on April 16, 2025, to elect directors, ratify the selection of Deloitte & Touche LLP as the independent accounting firm, and vote on executive compensation.
NYSE
Biglari Holdings Inc. will hold its annual meeting of shareholders on April 17, 2024, to elect directors, ratify the selection of Deloitte & Touche LLP as the independent accounting firm, and consider a shareholder proposal regarding animal welfare standards.

Schedule 13D - Activist Investments

NYSE
Activist investor Sardar Biglari's group withdrew its board nominee for Jack in the Box Inc. but plans continued engagement and potential withhold campaign.
NYSE
Biglari Holdings and its affiliates have withdrawn the nomination of Sardar Biglari for election to the Jack in the Box Inc. Board of Directors.
NYSE
Biglari Holdings and affiliates, holding 9.98% of Jack in the Box, have nominated Sardar Biglari and Douglas Thompson for election to the company's Board of Directors at the 2026 annual meeting.
NYSE
A group of investment entities led by Mario Gabelli has reduced its beneficial ownership in Biglari Holdings Inc. Class A Common Stock to 6.49% through a series of sales.
Worse than expected
NYSE
Biglari Holdings and its affiliates have filed a Schedule 13D for their 9.98% stake in Jack in the Box Inc., indicating potential engagement with management and the board following the unilateral adoption of a poison pill by the Issuer.
Worse than expected