Business
Barnwell Industries, Inc. Reports Results for its First Quarter Ended December 31, 2025
HOUSTON, TX / ACCESS Newswire / February 23, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) today reported financial results for its first quarter ended December 31, 2025. For the quarter, the Company had revenue from continuing operations of ...
About this update from Barnwell Industries, Inc.
[{"type":"text","content":"HOUSTON, TX / ACCESS Newswire / February 23, 2026 / Barnwell Industries, Inc. (NYSE American:BRN) today reported financial results for its first quarter ended December 31, 2025. For the quarter, the Company had revenue from continuing operations of $2,746,000 and a net loss from continuing operations of $1,412,000 or $0.13 per share. In the prior year quarter ended December 31, 2024, the Company reported revenue from continuing operations of $3,934,000 and a net loss from continuing operations of $1,600,000 or $0.16 per share. The Company remains debt free and ended the quarter with $1,826,000 in working capital, including $3,622,000 in cash and cash equivalents.","length":671,"tagName":"p"},{"type":"text","content":"The net loss from continuing operations for the three months ended December 31, 2025, was primarily due to an increase of $453,000, 39%, in general and administrative expenses due to $257,000 higher personnel costs for new staff hired in Canada during the transition period in advance of closing of the Hawaii office on January 31, 2026, $101,000 higher non-cash cost for shares issued to the new Chief Financial Officer, and $116,000 higher professional service fees in the current year period as compared to the same period in the prior year. These higher professional service fees were related to some continued costs from the previously disclosed shareholder consent solicitation, proxy contest, and related legal matters. These increases were partially offset by an $84,000 increase in oil and natural gas segment operating results, a $70,000 increase in land investment segment operating results, and a $398,000 increase from foreign currency gains.","length":955,"tagName":"p"},{"type":"text","content":"Oil and Natural Gas Operating Results","length":37,"tagName":"p"},{"type":"text","content":"Oil and natural gas operating results increased $84,000 for the three months ended December 31, 2025 as compared to the same period of the prior year, primarily attributable to a $613,000 decrease in the ceiling test impairment which was nil in the current year period, a $425,000 decrease in operating expenses, and a $313,000 decrease in oil and natural gas depletion, partially offset by a $1,267,000 decrease in oil and natural gas revenues in the current year period as compared to the same period in the prior year. During the three m...