Biglari Holdings Q2 operating earnings $8.4M; net loss $20.7M on investment losses

Biglari Holdings Inc.

Pre-tax operating earnings for Q2 2021 were $8.4 million, compared to a loss of $3.5 million in Q2 2020.
Net loss for Q2 2021 was $20.7 million, versus net earnings of $42.5 million a year ago, driven by investment losses.
For first six months of 2021, pre-tax operating earnings were $17.3 million vs loss of $9.5 million in 2020.
Six-month net earnings were $51.0 million compared to net loss of $95.4 million in 2020.
The company cautions that quarterly fluctuations in investments are not meaningful; focus is on operating businesses.

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