NYSE$BH

Biglari Holdings Inc-B · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Reported earnings for Q3 and first nine months of 2020.

Biglari Holdings Inc. announced its Q3 2020 results, highlighting that investment fluctuations should not be considered meaningful for analysis.

  • Earnings are affected by investment carrying value.
  • Quarterly or annual investment fluctuations are not considered meaningful.
  • Operating businesses are best analyzed before investment gains impact.
  • Biglari Holdings owns subsidiaries in insurance, media, restaurants, and oil and gas.

Headline financials

Total Revenue

$102M

Previous: $160M-36.4%
EPS (adj)

$60.07

Previous: -$0.05+120240.0%
Capital Expenditures

-$13.3M

Previous: -$8.36M-59.1%
Free Cash Flow

$93.1M

Previous: $31.5M+195.4%
Net Income

$21.1M

Previous: -$17K+124223.5%
Operating Income

$14M

Previous: $13.4M+4.7%
Gross Profit

$47.8M

Previous: $46.8M+2.0%
Cash & Equivalents

$33.2M

Previous: $19.1M+74.0%
Total Assets

$984M

Previous: $1.15B-14.8%

Revenue & EPS history

Biglari Holdings · Revenue · Quarterly

$102M

Q3 2020-36.4%vs Q3 2019
Beat estimate in 4 of 10 quarters(40%)
ActualEstimate

Forward guidance

Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from expectations. The company does not update forward-looking statements.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

+0.8%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+3.1%

Avg return

30 days after

54%

33 / 61 earnings

Positive

+23.7%

Q4 2021

Best reaction

-14.0%

Q1 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.6%-15.8%-2.3%
Q4 2025+0.8%-21.5%-14.2%
Q3 2025-8.6%-10.8%-12.0%
Q1 2025+0.1%+1.9%+13.0%
Q4 2024+0.8%+2.6%+11.5%
Q3 2024-3.0%+13.4%+27.7%
Q2 2024-8.4%-7.9%-10.4%
Q1 2024-3.2%+2.1%-6.6%
Q4 2023+7.0%+5.9%+22.8%
Q3 2023-2.5%-4.4%-2.7%
Q2 2023-4.1%-3.6%-8.4%
Q1 2023+1.0%-0.5%+15.6%
Q4 2022+4.6%+3.7%-5.6%
Q3 2022+2.0%+0.8%+4.2%
Q2 2022+5.3%+4.7%+0.9%
Q1 2022+1.1%-3.2%-5.0%
Q4 2021+23.7%+39.9%+25.4%
Q3 2021-1.8%-3.4%-14.5%
Q2 2021-0.6%+5.9%+3.7%
Q1 2021+11.8%+6.1%+18.8%
Q4 2020+16.3%+31.6%+13.3%
Q3 2020+15.8%+10.3%+41.8%
Q2 2020+16.9%+20.3%+34.2%
Q1 2020-5.3%-14.5%+43.3%
Q4 2019+2.6%-6.1%-62.0%
Q3 2019+11.4%+20.0%+35.1%
Q2 2019+3.3%+12.8%+1.0%
Q1 2019-14.0%-14.3%-32.9%
Q4 2018-0.2%-6.2%-3.7%
Q3 2018+0.3%-1.0%-3.8%
Q2 2018-2.3%+0.3%+6.5%
Q1 2018-2.6%+3.3%+5.2%
Q4 2017+0.4%-1.5%-3.3%
Q3 2017-6.8%-7.9%-7.0%
Q2 2017-8.9%-14.5%-17.4%
Q1 2017-3.5%-5.4%-9.8%
Q4 2016+1.1%-2.9%-5.5%
Q3 2016+1.6%+8.0%+10.7%
Q2 2016+1.3%+5.4%+11.6%
Q1 2016-0.9%
Q4 2015+0.2%
Q3 2015-1.3%
Q2 2015-1.0%
Q1 2015+0.1%
Q3 2014-2.4%
Q2 2014+0.6%
Q1 2014-3.5%
Q3 2013-0.9%
Q1 2013+1.1%
Q4 2012+3.5%
Q3 2012+2.0%
Q2 2012+0.7%
Q1 2012+3.7%
Q4 2011+1.8%
Q3 2011-6.4%
Q2 2011+1.8%
Q1 2011-0.1%
Q4 2010-1.3%
Q3 2010-0.4%
Q2 2010-5.9%
Q1 2010-0.2%

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