Monitor updates on the Canadian asset sale process and any further cost savings from the Houston relocation. The improvement in sequential loss and cash position is positive, but the revenue decline and lack of profitability guidance suggest continued uncertainty.
Price Chart
Executive Summary
Barnwell Industries reported Q2 FY2026 revenue of $2.535M, down 29% YoY, but net loss improved to $1.150M ($0.09/share) from $1.538M ($0.15/share) in the prior year. The company highlighted sequential improvement in costs and operating results, with a debt-free balance sheet and ongoing strategic review including a potential sale of Canadian oil and gas assets.
Key Financial Metrics
Key Facts
- Revenue $2.535M for Q2 ended March 31, 2026 vs $3.569M in Q2 2025 (down 29%)
- Net loss from continuing operations attributable to Barnwell: $1.150M vs $1.538M in Q2 2025
- EPS from continuing ops: ($0.09) vs ($0.15) YoY
- Cash and cash equivalents: $4.016M, debt-free, working capital $2.152M
- Sequential improvement: net loss from continuing ops improved ~21% over Q1 2026
- Company completed headquarters relocation from Honolulu to Houston, expects further cost savings
- Evaluating sale of Canadian oil and gas business; strategic review ongoing
- Issued 926,403 shares via ATM in Q2, gross proceeds $1.133M (average price $1.22/share)
Financial Impact
Revenue declined $1.034M YoY; net loss improved $388k; EPS improved $0.06/share
Risk Factors
- Revenue continues to decline due to asset divestitures, with no near-term catalyst for growth
- Company remains unprofitable and highly dependent on oil and gas prices
- Low liquidity and small market cap ($16M) can amplify volatility
- ATM program dilutes existing shareholders; 1.81M shares issued to date
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-022863 |
| Document: ef20074658_8k.htm | 0001140361-26-022863 |
| Document: 0001140361-26-022863-index-headers.html | 0001140361-26-022863 |
| Document: 0001140361-26-022863-index.html | 0001140361-26-022863 |
| Document: 0001140361-26-022863.txt | 0001140361-26-022863 |
| 8-K Data (Synthetic) | 0001140361-26-022863 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | 8-K | $0.8900 $0.8945 | ▲ +0.50% | ▲ +0.64% | $0.8800 (−1.12%) |
Oct 6, 2026 21d ago | 8-K | $0.9575 $0.9418 | ▼ −1.64% | ▼ −1.50% | $0.8800 (−8.09%) |
Oct 5, 2026 22d ago | 8-K | $0.9575 $0.9418 | ▼ −1.64% | ▼ −1.50% | $0.8800 (−8.09%) |
Sep 16, 2026 5w ago | 8-K | $1.00 $0.9900 | ▼ −1.00% | ▼ −3.56% | $0.8800 (−12.00%) |
Aug 4, 2026 12w ago | 8-K | $1.02 $0.9701 | ▼ −4.89% | ▼ −4.79% | $0.8800 (−13.73%) |
May 26, 2026 22w ago | 8-K | $1.08 $1.09 | ▲ +0.93% | ▲ +0.46% | $0.8800 (−18.52%) |
May 20, 2026 22w ago | DEFA14A | $1.10 $1.04 | ▲ +5.45% | ▲ +7.30% | $0.8800 (+20.00%) |
Feb 25, 2026 34w ago | 8-K | $1.05 $1.28 | ▲ +21.90% | ▲ +23.06% | $0.8800 (−16.19%) |
US Market Status
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