Biglari Q2 net earnings $39.9M, down from $50.9M; Steak n Shake comps up 13.8%

Biglari Holdings Inc.

Q2 pre-tax operating earnings $6.3M vs $3.7M year ago; six-month operating earnings $2.1M vs $13.7M.
Q2 net earnings $39.9M vs $50.9M; six-month net earnings $25.4M vs $17.7M.
Investment gains $45.3M in Q2 vs $61.4M prior year; six-month gains $30.6M vs $10.3M.
Steak n Shake same-store sales up 13.8% in Q2 for company-operated and franchise restaurants.

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