Biglari Holdings Q3 pre-tax operating earnings up 58% to $20.3M; net loss of $56.5M on investment losses

Biglari Holdings Inc.

Pre-tax operating earnings for Q3 2023: $20.3M, up 58% from $12.8M in Q3 2022.
Net loss attributable to shareholders in Q3 2023: $56.5M, vs net earnings of $32.0M a year ago.
Investment losses in Q3 2023 totaled $94.3M, compared with gains of $28.8M in Q3 2022.
For first nine months 2023, pre-tax operating earnings $39.4M (up 27% from $31.1M).
Nine-month net earnings attributable to shareholders: $10.3M, vs net loss of $42.1M in 2022.

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