{"schema_version":"secwatch.filing_event.v1","accession":"0001726173-25-000032","form_type":"8-K","ticker":"BH-A","cik":"0001726173","company_name":"Biglari Holdings Inc.","filed_at":"2025-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.484019+00:00","generated_at":"2026-05-22T01:52:54.552503+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Biglari Holdings reports Q1 net loss of $33.3M on investment losses; operating earnings improve","bullets":["Pre-tax operating earnings rose to $9.99M from $5.70M in Q1 2024, up 75%.","Investment losses of $51.2M swung from $23.7M gains in prior year, driving net loss.","Net loss of $33.3M compared to net earnings of $22.6M a year earlier.","Company downplays quarterly investment fluctuations as not meaningful; focuses on operating results."],"urls":{"canonical":"https://secwatch.observer/filing/0001726173-25-000032","json":"https://secwatch.observer/filing/0001726173-25-000032.json","markdown":"https://secwatch.observer/filing/0001726173-25-000032.md","text":"https://secwatch.observer/filing/0001726173-25-000032.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1726173/000172617325000032/0001726173-25-000032-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1726173/000172617325000032/bh-20250509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T01:52:54.552503+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}