Biglari Holdings Inc
NYSE:BH.A
Income Statement
Earnings Waterfall
Biglari Holdings Inc
Revenue
|
365.3m
USD
|
Cost of Revenue
|
-210m
USD
|
Gross Profit
|
155.4m
USD
|
Operating Expenses
|
-116m
USD
|
Operating Income
|
39.4m
USD
|
Other Expenses
|
15.6m
USD
|
Net Income
|
54.9m
USD
|
Income Statement
Biglari Holdings Inc
Dec-2013 | Apr-2014 | Jul-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
762
N/A
|
771
+1%
|
780
+1%
|
794
+2%
|
1 018
+28%
|
817
-20%
|
846
+4%
|
871
+3%
|
862
-1%
|
864
+0%
|
861
0%
|
859
0%
|
850
-1%
|
845
-1%
|
839
-1%
|
837
0%
|
840
+0%
|
839
0%
|
834
-1%
|
824
-1%
|
810
-2%
|
790
-3%
|
749
-5%
|
706
-6%
|
669
-5%
|
623
-7%
|
551
-12%
|
492
-11%
|
434
-12%
|
392
-10%
|
387
-1%
|
367
-5%
|
366
0%
|
357
-2%
|
359
+0%
|
369
+3%
|
368
0%
|
373
+1%
|
374
+0%
|
373
0%
|
365
-2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(572)
|
(576)
|
(577)
|
(899)
|
(806)
|
(942)
|
(974)
|
(690)
|
(678)
|
(676)
|
(675)
|
(673)
|
(668)
|
(667)
|
(671)
|
(678)
|
(687)
|
(689)
|
(682)
|
(672)
|
(661)
|
(655)
|
(627)
|
(581)
|
(534)
|
(474)
|
(400)
|
(347)
|
(297)
|
(257)
|
(248)
|
(235)
|
(223)
|
(218)
|
(217)
|
(216)
|
(215)
|
(213)
|
(211)
|
(211)
|
(210)
|
|
Gross Profit |
190
N/A
|
195
+3%
|
202
+4%
|
(105)
N/A
|
212
N/A
|
(125)
N/A
|
(128)
-3%
|
181
N/A
|
183
+1%
|
188
+3%
|
186
-1%
|
186
0%
|
182
-2%
|
178
-2%
|
168
-5%
|
158
-6%
|
153
-4%
|
149
-2%
|
152
+2%
|
152
0%
|
149
-2%
|
135
-9%
|
123
-9%
|
125
+2%
|
135
+8%
|
148
+10%
|
151
+1%
|
146
-3%
|
137
-6%
|
136
-1%
|
139
+2%
|
132
-5%
|
143
+8%
|
140
-2%
|
142
+2%
|
153
+8%
|
153
0%
|
160
+5%
|
163
+2%
|
162
-1%
|
155
-4%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(170)
|
(171)
|
(182)
|
120
|
(191)
|
132
|
141
|
(157)
|
(160)
|
(157)
|
(153)
|
(152)
|
(150)
|
(149)
|
(148)
|
(148)
|
(152)
|
(155)
|
(155)
|
(155)
|
(152)
|
(153)
|
(147)
|
(140)
|
(130)
|
(119)
|
(114)
|
(110)
|
(109)
|
(100)
|
(99)
|
(97)
|
(106)
|
(107)
|
(106)
|
(106)
|
(107)
|
(110)
|
(115)
|
(119)
|
(116)
|
|
Selling, General & Administrative |
(144)
|
(146)
|
(157)
|
(177)
|
(159)
|
(166)
|
(156)
|
(131)
|
(135)
|
(133)
|
(130)
|
(129)
|
(127)
|
(126)
|
(125)
|
(127)
|
(131)
|
(134)
|
(135)
|
(135)
|
(133)
|
(133)
|
(126)
|
(117)
|
(100)
|
(84)
|
(78)
|
(75)
|
(76)
|
(70)
|
(70)
|
(67)
|
(76)
|
(77)
|
(75)
|
(74)
|
(71)
|
(72)
|
(74)
|
(77)
|
(77)
|
|
Depreciation & Amortization |
(25)
|
(25)
|
(25)
|
(25)
|
(32)
|
(25)
|
(25)
|
(26)
|
(25)
|
(24)
|
(23)
|
(23)
|
(23)
|
(23)
|
(23)
|
(22)
|
(21)
|
(21)
|
(20)
|
(20)
|
(19)
|
(20)
|
(20)
|
(23)
|
(30)
|
(34)
|
(36)
|
(36)
|
(32)
|
(29)
|
(30)
|
(30)
|
(30)
|
(31)
|
(31)
|
(32)
|
(36)
|
(39)
|
(41)
|
(42)
|
(39)
|
|
Other Operating Expenses |
(1)
|
(1)
|
(1)
|
322
|
0
|
323
|
322
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
20
N/A
|
24
+18%
|
20
-16%
|
15
-26%
|
21
+42%
|
8
-64%
|
14
+80%
|
24
+79%
|
23
-4%
|
31
+32%
|
33
+9%
|
34
+2%
|
32
-7%
|
29
-8%
|
21
-29%
|
10
-52%
|
0
-97%
|
(5)
N/A
|
(3)
+39%
|
(3)
+6%
|
(4)
-23%
|
(18)
-376%
|
(24)
-32%
|
(15)
+37%
|
6
N/A
|
30
+438%
|
37
+25%
|
36
-4%
|
28
-21%
|
36
+27%
|
40
+10%
|
35
-11%
|
37
+4%
|
32
-12%
|
36
+11%
|
48
+34%
|
46
-4%
|
50
+9%
|
48
-3%
|
43
-11%
|
39
-8%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
173
|
201
|
34
|
25
|
164
|
159
|
153
|
146
|
(61)
|
(4)
|
52
|
(62)
|
115
|
11
|
(3)
|
62
|
(13)
|
16
|
(30)
|
(5)
|
21
|
51
|
93
|
114
|
58
|
(151)
|
(123)
|
(96)
|
(55)
|
207
|
113
|
72
|
10
|
(80)
|
(153)
|
(109)
|
(85)
|
(3)
|
99
|
(24)
|
16
|
|
Non-Reccuring Items |
(1)
|
(0)
|
(2)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(2)
|
(7)
|
(8)
|
(17)
|
(23)
|
(21)
|
(24)
|
(18)
|
(12)
|
(8)
|
(5)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
8
|
10
|
|
Pre-Tax Income |
192
N/A
|
224
+17%
|
52
-77%
|
39
-25%
|
185
+372%
|
167
-10%
|
167
0%
|
170
+2%
|
(37)
N/A
|
26
N/A
|
85
+227%
|
(28)
N/A
|
146
N/A
|
40
-73%
|
18
-55%
|
72
+306%
|
(13)
N/A
|
10
N/A
|
(33)
N/A
|
(8)
+75%
|
17
N/A
|
31
+85%
|
67
+117%
|
92
+36%
|
55
-40%
|
(138)
N/A
|
(109)
+21%
|
(82)
+25%
|
(50)
+38%
|
225
N/A
|
141
-37%
|
100
-29%
|
42
-57%
|
(52)
N/A
|
(122)
-134%
|
(65)
+47%
|
(43)
+34%
|
43
N/A
|
142
+233%
|
26
-81%
|
65
+145%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(81)
|
(77)
|
(18)
|
(10)
|
(65)
|
(70)
|
(64)
|
(59)
|
22
|
(1)
|
(23)
|
21
|
(47)
|
(8)
|
(2)
|
(21)
|
11
|
2
|
17
|
3
|
1
|
(1)
|
(8)
|
(19)
|
(10)
|
36
|
27
|
21
|
12
|
(54)
|
(33)
|
(23)
|
(7)
|
16
|
32
|
18
|
11
|
(9)
|
(33)
|
(6)
|
(9)
|
|
Income from Continuing Operations |
111
|
147
|
34
|
29
|
120
|
97
|
103
|
110
|
(16)
|
25
|
63
|
(7)
|
100
|
33
|
16
|
52
|
(2)
|
12
|
(16)
|
(5)
|
18
|
30
|
59
|
73
|
45
|
(102)
|
(82)
|
(61)
|
(38)
|
172
|
108
|
77
|
36
|
(37)
|
(90)
|
(47)
|
(32)
|
33
|
109
|
21
|
56
|
|
Income to Minority Interest |
(2)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
|
Equity Earnings Affiliates |
44
|
(2)
|
13
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
152
N/A
|
144
-5%
|
47
-67%
|
29
-39%
|
120
+316%
|
119
-1%
|
110
-8%
|
110
+1%
|
(16)
N/A
|
25
N/A
|
63
+148%
|
(7)
N/A
|
100
N/A
|
33
-67%
|
16
-50%
|
52
+220%
|
50
-3%
|
64
+28%
|
36
-45%
|
47
+31%
|
19
-58%
|
31
+60%
|
61
+95%
|
74
+23%
|
45
-39%
|
(102)
N/A
|
(82)
+20%
|
(61)
+26%
|
(38)
+37%
|
172
N/A
|
108
-37%
|
77
-29%
|
36
-54%
|
(37)
N/A
|
(90)
-145%
|
(47)
+48%
|
(32)
+31%
|
33
N/A
|
109
+231%
|
20
-82%
|
55
+175%
|
|
EPS (Diluted) |
95.12
N/A
|
90.12
-5%
|
29.43
-67%
|
16.94
-42%
|
63.1
+272%
|
62.73
-1%
|
57.68
-8%
|
84.92
+47%
|
-9.87
N/A
|
21.08
N/A
|
52.33
+148%
|
-5.5
N/A
|
82.91
N/A
|
27.08
-67%
|
13.41
-50%
|
42.91
+220%
|
41.75
-3%
|
30.52
-27%
|
16.9
-45%
|
22.14
+31%
|
9.23
-58%
|
14.76
+60%
|
28.8
+95%
|
37.1
+29%
|
21.61
-42%
|
-48.71
N/A
|
-38.95
+20%
|
-28.9
+26%
|
-18.09
+37%
|
90.31
N/A
|
57.05
-37%
|
40.31
-29%
|
18.68
-54%
|
-20.27
N/A
|
-49.77
-146%
|
-26.05
+48%
|
-17.94
+31%
|
18.22
N/A
|
63.82
+250%
|
34.57
-46%
|
94.75
+174%
|