Biglari Holdings Inc. News Release
(dollars in thousands) |
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Third Quarter |
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First Nine Months |
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2024 |
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2023 |
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2024 |
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2023 |
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Pre-tax operating earnings.................................................................................. |
$ 3,272 |
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$ 20,298 |
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$ 28,673 |
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$ 39,384 |
Investment gains (losses)................................................................................... |
40,054 |
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(94,314) |
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(18,867) |
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(25,231) |
Income taxes and income attributable to noncontrolling interest............................. |
(11,201) |
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17,502 |
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(3,292) |
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(3,845) |
Net earnings (loss) attributable to |
$ 32,125 |
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$ (56,514) |
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$ 6,514 |
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$ 10,308 |
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Analysis of Results:
Investments affect our reported quarterly earnings based on their carrying value. We do not regard the quarterly or annual fluctuations in our investments to be meaningful. Therefore, our operating businesses are best analyzed before the impact of investment gains. As a consequence, in the preceding table we separate earnings of our operating businesses from our investment gains.
About
Comment on Regulation G
This press release contains certain non-GAAP financial measures. In addition to the GAAP presentations of net earnings,
Risks Associated with Forward-Looking Statements
This news release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ markedly from those projected or discussed here.
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