Biglari Holdings Q2 2025 Earnings: Revenue Up 10%, EPS at $195, Net Income at $50.9m

Biglari Holdings reported Q2 2025 earnings with a revenue of $100.6m, up 10% from Q2 2024. Net income increased to $50.9m, compared to a $48.2m loss in Q2 2024. EPS improved to $195, compared to a $172 loss in Q2 2024. The profit margin rose to 51%.

Biglari Holdings (BH.A) reported its fiscal 2025 Q2 earnings on August 8, 2025, delivering a sharp turnaround in profitability. The company’s earnings results exceeded expectations, with a significant swing from a prior-year loss to a robust net income. Biglari Holdings reaffirmed its strategic focus on disciplined growth and operational efficiency, while also sharing forward-looking optimism.

The company reported a net income of $50.93 million for Q2 2025, a 205.7% increase from the $-48.19 million loss in Q2 2024. EPS improved to $194.57, reversing a $171.89 per share loss from the same period last year. The profit margin rose to 51%, indicating strong operational improvements and effective cost management.

Total revenue rose 10.4% year-over-year to $100.62 million, driven by $72.01 million from restaurants and $18.82 million from insurance operations. Restaurant operations remained the core revenue driver, contributing $72.01 million, while insurance premiums and other services added $18.82 million. The company also generated $7.50 million from oil and gas activities and $2.29 million from licensing and media segments.

Post-earnings, a strategy of buying Biglari Holdings A shares 30 days after the earnings release date over the past three years delivered strong returns. The strategy achieved an overall return of 79.78%, outperforming the benchmark return of 63.26% by 16.52%. It also demonstrated a solid risk profile, with a maximum drawdown of 0.00%, a Sharpe ratio of 0.71, and a CAGR of 24.73%, highlighting effective risk management and consistent performance.

John J. Batchelder, CEO of Biglari Holdings, highlighted strong performance in the second quarter of 2025, emphasizing revenue growth driven by strategic investments and improved market positioning. He acknowledged operational challenges but expressed confidence in the company’s long-term trajectory. Batchelder stressed the importance of capital efficiency and disciplined expansion, noting that leadership remains focused on maximizing shareholder value through targeted acquisitions and portfolio optimization. He conveyed an optimistic tone regarding future opportunities, particularly in sectors aligned with the company’s core competencies.

Biglari Holdings provided forward-looking guidance, with expectations for continued revenue momentum and EPS growth supported by existing investments and operational improvements. The company anticipates maintaining a disciplined approach to CAPEX while prioritizing high-impact initiatives. Specific quantitative targets were not disclosed, but leadership expressed confidence in outperforming industry benchmarks and delivering consistent returns to shareholders in the coming quarters.

References:
[1] https://www.ainvest.com/news/biglari-holdings-2025-q2-earnings-strong-performance-net-income-surges-205-7-2508-72/
[2] https://www.ainvest.com/news/biglari-holdings-reports-q2-2025-earnings-net-earnings-50-9mln-store-sales-rise-10-7-2508/
[3] https://www.aol.com/finance/biglari-swings-profit-fiscal-q2-211829289.html