Biglari Holdings Class B

BH

Market cap $1.11B

Biglari Holdings trades at a decent NAV discount, but it has comps that trade similarly and have less capped upside due to its unique carry structure and incentive scheme. Operational performance has been solid across restaurants, insurance, and oil & gas, but macroeconomic risks—especially for restaurants—remain a concern. Insurance investment returns may face pressure from lower rates, and oil & gas outlook is clouded by supply increases and uncertain demand.

San Antonio, TX , Aug. 14, 2025 /PRNewswire/ -- Biglari Holdings Inc. (NYSE: BH.A; BH) announced today the dual listing of its common stock on NYSE Texas, the newly launched, fully electronic equities exchange headquartered in Dallas, Texas, effective August 15, 2025. "We are excited to welcome Texas-based holding company Biglari Holdings to our NYSE Texas Founding Members community," said Chris Taylor, Chief Development Officer, NYSE Group.

Biglari (BH -2.25%), a holding company with operations in restaurants, insurance, oil and gas, and media, reported its Q2 2025 earnings on Aug. 8, 2025. The most significant headline was a sharp return to profitability, as net earnings (GAAP) swung to $50.9 million after a $48.2 million GAAP loss in the prior year period, largely driven by investment gains of $61.4 million.

San Antonio, TX , Aug. 8, 2025 /PRNewswire/ -- Biglari Holdings Inc. (NYSE: BH.A; BH) announces its results for the second quarter and first six months of 2025. Biglari Holdings Inc.'s earnings for the second quarter and first six months of 2025 and 2024 are summarized below.

San Antonio, TX , May 9, 2025 /PRNewswire/ -- Biglari Holdings Inc. (NYSE: BH.A; BH) announces its results for the first quarter of 2025. Biglari Holdings Inc.'s earnings for the first quarter of 2025 and 2024 are summarized below.

San Antonio, TX , March 1, 2025 /PRNewswire/ -- Biglari Holdings Inc.'s (NYSE: BH.A; BH) 2024 Annual Report to the shareholders has been posted on the Internet, where it can be accessed at www.biglariholdings.com. The report includes Sardar Biglari's annual letter to shareholders.

SAN ANTONIO, TX , Jan. 9, 2025 /PRNewswire/ -- Biglari Holdings (NYSE: BH.A; BH) announced today its 2025 Annual Shareholders Meeting will be held at the Majestic Theatre in San Antonio on Wednesday, April 16, 2025, at 1:00 p.m. Central Time.

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has placed under review with developing implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of First Guard Insurance Company (First Guard) (Scottsdale, AZ). First Guard is a subsidiary of Biglari Holdings Inc. [NYSE: BH]. The Credit Ratings (ratings) of First Guard have been placed under review with developing implications following the approval of a reinsurance agreement submitted to the.

San Antonio, TX, Nov. 8, 2024 /PRNewswire/ -- Biglari Holdings Inc. (NYSE: BH.A; BH) announces its results for the third quarter and first nine months of 2024. Biglari Holdings Inc.'s earnings for the third quarter and first nine months of 2024 and 2023 are summarized below.

San Antonio, TX , Aug. 9, 2024 /PRNewswire/ -- Biglari Holdings Inc. (NYSE: BH.A; BH) announces its results for the second quarter and first six months of 2024. Biglari Holdings Inc.'s earnings for the second quarter and first six months of 2024 and 2023 are summarized below.