---
schema_version: "secwatch.filing_event.v1"
accession: "0001726173-25-000006"
form_type: "8-K"
ticker: "BH-A"
cik: "0001726173"
company_name: "Biglari Holdings Inc."
filed_at: "2025-03-03T23:59:59+00:00"
generated_at: "2026-05-25T19:06:46.641555+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Biglari Holdings reports Q4 net loss of $10.3M; full-year operating earnings fall 25%

## Summary
- Q4 2024 pre-tax operating earnings $3.9M vs $3.8M in Q4 2023; full-year $32.6M down from $43.2M.
- Net loss attributable to shareholders was $10.3M in Q4 and $3.8M for full year 2024.
- Investment losses of $21.9M in Q4 and $40.7M for the year drove the net loss.
- Annual letter from Sardar Biglari posted at www.biglariholdings.com alongside 10-K.

## SEC filing metadata
- accession: 0001726173-25-000006
- form_type: 8-K
- ticker: BH-A
- cik: 0001726173
- company_name: Biglari Holdings Inc.
- filed_at: 2025-03-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1726173/000172617325000006/0001726173-25-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1726173/000172617325000006/bh-20250301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001726173-25-000006
- JSON: https://secwatch.observer/filing/0001726173-25-000006.json
- Plain text: https://secwatch.observer/filing/0001726173-25-000006.txt

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