BRN
Barnwell Industries, Inc.1.0500
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
10.58MP/E (TTM)
-Basic EPS (TTM)
-0.76Dividend Yield
0%Recent Filings
8-K
8-K
8-K
Barnwell cuts quorum for annual meeting
Barnwell Industries amended its bylaws on September 10, 2025, slashing the quorum for the adjourned 2025 annual meeting to 33 1/3% of voting shares, down from a majority, to push through director elections despite activist Sherwood Group's deliberate quorum defeats. This one-time tweak, effective for the September 19 reconvening, counters months of disruptions that hiked costs and diverted focus from Canadian energy assets. The board urges white proxy votes for its nominees. Ongoing proxy fight risks further distractions.
8-K
Q3 loss widens; U.S. assets sold
Barnwell Industries reported a $1.55 million net loss from continuing operations for the quarter ended June 30, 2025, up from $1.02 million last year, driven by $565,000 higher general and administrative expenses from shareholder disputes and proxy costs. On August 8, 2025, it agreed to sell its U.S. oil and gas assets in Texas and Oklahoma for $2.3 million, expecting a $700,000 loss and ending U.S. operations. This cash will fund Twining field workovers to offset declines, yet ongoing disputes and tariffs raise going concern doubts. No additional funding secured.
10-Q
Q3 FY2025 results
Barnwell Industries posted a net loss of $1.55M for Q3 FY2025 ended June 30, 2025, widening from $1.25M a year earlier, while nine-month losses hit $4.68M versus $3.68M prior year—yet operating cash from continuing ops swung to a $1.16M use from $4.35M generated, squeezed by lower oil and gas output down 16-21% y/y and prices off 8-21%, plus $1.6M in proxy contest costs net of insurance recovery. Revenues fell 29% q/q and 23% y/y to $3.19M, with Canadian ops at 89% of the mix, but depletion eased 35% q/q and 39% y/y to $2.50M amid impairments of $0.87M (down from $2.28M y/y, derived). Cash dipped to $1.15M, equity to $8.58M; free cash flow not disclosed in the 10-Q. On March 14, 2025, closed sale of contract drilling unit for $1.05M cash/note mix, recognizing $0.19M loss. Post-quarter, sold all U.S. oil/gas assets August 8, 2025 for $2.30M, eyeing liquidity boost. Activist proxy battles drag on costs.
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