Barnwell Industries, Inc. Announces Financial Results for Q2 2026

Barnwell Industries, Inc. reported its financial results for the second quarter ended March 31, 2026. The company saw sequential improvements in its operating and cost structure, benefiting from lower administrative expenses and improved oil and gas operating results. Revenue for the quarter was $2,535,000, with a consolidated net loss of $1,116,000, an improvement from the previous quarter's net loss of $1,412,000. The company maintained a debt-free balance sheet, ending the quarter with $4,016,000 in cash and cash equivalents. Barnwell continued to execute initiatives focused on streamlining operations and reducing overhead, with a 26% decrease in salaries, wages, and bonuses compared to the prior quarter. The company also reported progress on strategic initiatives, including the evaluation of its Canadian oil and gas business for potential sale and the ongoing sale of Hawaiian real estate. Barnwell also has an "at the market" securities sales facility with an aggregate offering price of up to $50,000,000, aimed at strengthening its balance sheet and enhancing flexibility for growth initiatives. The company is focused on disciplined execution, completing the assessment of its Canadian business, and evaluating strategic alternatives for value creation.