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Biglari Holdings profit misses consensus by 94.1% in Q4

Biglari Holdings Inc. said its normalized net income for the fourth quarter came to 32 cents per share, compared with the S&P Capital IQ consensus estimate of $5.42 per share.

EPS climbed 6.4% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $400,000, a decrease of 28.7% from $561,250 in the prior-year period.

The normalized profit margin dropped to 0.2% from 0.3% in the year-earlier period.

Total revenue decreased year over year to $215.2 million from $224.4 million, and total operating expenses declined from the prior-year period to $209.3 million from $217.7 million.

Reported net income came to a loss of $35.2 million, or a loss of $27.95 per share, compared to income of $91.0 million, or $48.50 per share, in the year-earlier period.

For the year, the company's normalized net income totaled 79 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $10.30.

EPS was a loss of $3.10 in the prior year.

Normalized net income was $1.2 million, compared with a loss of $5.4 million in the prior year.

Full-year total revenue increased year over year to $861.5 million from $828.1 million, and total operating expenses grew year over year to $838.1 million from $815.4 million.

The company said reported net income came to a loss of $15.8 million, or a loss of $10.18 per share, in the full year, compared with income of $100.8 million, or $57.39 per share, the prior year.