Biglari Holdings (BH.A; BH) posted a net loss of USD 49.9 million in Q4 2025 and a net loss of USD 37.5 million for FY 2025, according to its 2025 annual report release. Pre-tax operating earnings were a loss of USD 1.7 million in Q4 2025 and USD 18.8 million for FY 2025, while investment losses totaled USD 62.3 million in Q4 2025 and USD 66.5 million in FY 2025. Income taxes were USD 14.2 million in Q4 2025 and USD 10.2 million in FY 2025. The company said investment marks affect reported quarterly earnings and that its operating businesses are best analyzed before investment gains and losses. Book value per Class A Equivalent share was USD 2,059.32 at December 31, 2025, and the annual report includes Sardar Biglari’s annual letter to shareholders.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Biglari Holdings Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202602280944PR_NEWS_USPR_____DE98348) on February 28, 2026, and is solely responsible for the information contained therein.