---
schema_version: "secwatch.filing_event.v1"
accession: "0001726173-24-000042"
form_type: "8-K"
ticker: "BH-A"
cik: "0001726173"
company_name: "Biglari Holdings Inc."
filed_at: "2024-11-08T23:59:59+00:00"
generated_at: "2026-05-30T02:53:58.144550+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Biglari Holdings Q3 operating earnings drop 84% to $3.3M; net earnings swing to positive

## Summary
- Pre-tax operating earnings of $3.27M in Q3 2024 vs $20.30M in Q3 2023, down 84%.
- Net earnings attributable to shareholders of $32.1M in Q3 2024 vs loss of $56.5M in Q3 2023.
- Nine-month pre-tax operating earnings of $28.7M vs $39.4M in prior-year period.
- Investment gains of $40.1M in Q3 2024 reversed prior-year losses of $94.3M.
- Company advises investors to review full 10-Q for complete results.

## SEC filing metadata
- accession: 0001726173-24-000042
- form_type: 8-K
- ticker: BH-A
- cik: 0001726173
- company_name: Biglari Holdings Inc.
- filed_at: 2024-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1726173/000172617324000042/0001726173-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1726173/000172617324000042/bh-20241108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001726173-24-000042
- JSON: https://secwatch.observer/filing/0001726173-24-000042.json
- Plain text: https://secwatch.observer/filing/0001726173-24-000042.txt

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