---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013596"
form_type: "8-K"
ticker: "BBXIB"
cik: "0001814974"
company_name: "BBX Capital, Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:55:49.195514+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BBX Capital Q1 2023 net income $7.9M on $95M revenue; Renin faces covenant breach risk

## Summary
- Diluted EPS $0.55 vs loss of $0.12 YoY; net income $7.9M vs loss $1.8M.
- Revenue $95.0M up 26% from $75.5M, driven by Altman consolidation; provisional non-cash gains included.
- BBXRE income before taxes $17.9M (incl. non-cash gains); IT'SUGAR loss before taxes $2.5M vs $1.1M loss.
- Renin sales down 16% to $28.0M, loss before taxes narrowed to $3.0M from $3.7M; expects covenant non-compliance with TD Bank.
- CEO cites inflationary pressures and declining customer demand at IT'SUGAR and Renin; IT'SUGAR opened new store at Fisherman's Wharf.

## SEC filing metadata
- accession: 0001437749-23-013596
- form_type: 8-K
- ticker: BBXIB
- cik: 0001814974
- company_name: BBX Capital, Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1814974/000143774923013596/0001437749-23-013596-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1814974/000143774923013596/bbxi20230327_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013596
- JSON: https://secwatch.observer/filing/0001437749-23-013596.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013596.txt

## Key facts
- Earnings Releases
  BBX Capital, Inc. reported the three months ended March 31, 2023 results: revenue $95.0 million, net income $7.9 million, EPS $0.55.
  - Period: the three months ended March 31, 2023
  - Revenue: $95.0 million
  - Net income: $7.9 million
  - EPS: $0.55
  - Result: reported results
  source text: Selected highlights of BBX Capital’s consolidated financial results include: First Quarter 2023 Compared to First Quarter 2022 ● Total consolidated revenues of $95.0 million vs. $75.5 million ● Income before income taxes of $9.2 million vs. a loss before income taxes of $(2.8) million ● Net income attributable to shareholders of $7.9 million vs. a net loss attributable to shareholders of $ (1.8) million ● Diluted earnings per share of $0.55 vs. a diluted loss per share of $ (0.12)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1814974/000143774923013596/0001437749-23-013596-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.