---
schema_version: "secwatch.filing_event.v1"
accession: "0001726173-24-000036"
form_type: "8-K"
ticker: "BH-A"
cik: "0001726173"
company_name: "Biglari Holdings Inc."
filed_at: "2024-08-09T23:59:59+00:00"
generated_at: "2026-05-31T10:26:33.240430+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Biglari Holdings Q2 pre-tax operating earnings rise to $19.7M; net loss of $48.2M on investment losses

## Summary
- Pre-tax operating earnings of $19.7M in Q2 2024 vs $10.0M in Q2 2023, up 96%.
- Net loss attributable to shareholders of $48.2M in Q2 2024 vs net income of $1.9M in prior year.
- First six months 2024: net loss of $25.6M, compared to net income of $66.8M in 2023.
- Investment losses of $82.6M in Q2 2024 drove net loss; management advises focusing on operating earnings.
- First six months operating earnings of $25.4M vs $19.1M in 2023, up 33%.

## SEC filing metadata
- accession: 0001726173-24-000036
- form_type: 8-K
- ticker: BH-A
- cik: 0001726173
- company_name: Biglari Holdings Inc.
- filed_at: 2024-08-09T23:59:59+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/1726173/000172617324000036/0001726173-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1726173/000172617324000036/bh-20240809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001726173-24-000036
- JSON: https://secwatch.observer/filing/0001726173-24-000036.json
- Plain text: https://secwatch.observer/filing/0001726173-24-000036.txt

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