---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-043276"
form_type: "8-K"
ticker: "BH-A"
cik: "0001726173"
company_name: "Biglari Holdings Inc."
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:06:16.423039+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Steak n Shake reports ~15% same-store sales growth for Q3 fiscal 2025

## Summary
- Same-store sales rose ~15% for U.S. operations (company-operated and franchise-partner stores) in the third fiscal quarter.
- Metric disclosed by Steak n Shake (Biglari Holdings subsidiary) in a presentation to potential franchisees.
- Positive momentum in core burger chain under Biglari's ownership.

## SEC filing metadata
- accession: 0001628280-25-043276
- form_type: 8-K
- ticker: BH-A
- cik: 0001726173
- company_name: Biglari Holdings Inc.
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1726173/000162828025043276/0001628280-25-043276-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1726173/000162828025043276/bh-20250930.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-043276
- JSON: https://secwatch.observer/filing/0001628280-25-043276.json
- Plain text: https://secwatch.observer/filing/0001628280-25-043276.txt

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