San Antonio, TX, Feb. 28, 2026 /PRNewswire/ — Biglari Holdings Inc.’s (NYSE:BH, BH)) 2025 Annual Report to the shareholders has been posed on the Internet, where it can be accessed at www.biglariholdings.com. The report includes Sardar Biglari’s annual letter to shareholders.

Biglari Holdings Inc.’s earnings for the fourth quarter and full year of 2025 and 2024 are summarized below.  To become fully apprised of our results, shareholders should carefully study our 10-K, which has been posted at www.biglariholdings.com

(dollars in thousands)









Fourth Quarter


Year Ended December 31,


2025


2024


2025


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