Barnwell Industries Inc (BRN)
AMEXEnergyOil & Gas Exploration & ProductionSnapshot 2026-09-09
$1.00-0.99%
Close 2026-09-09 · 1-day change
AMEXEnergyOil & Gas Exploration & ProductionSnapshot 2026-09-09
Intact: The reason to own it still holds.
Barnwell is improving operating income from $52,000 in 2025-Q3 to $93,000 in 2026-Q2. Net income losses are shrinking, down from $2.4M in 2025-Q4 to $1.15M in 2026-Q2. The company is managing costs better despite revenue declines. These steps show progress toward profitability.
Revenue is falling, down from $3M in 2025-Q4 to $2.5M in 2026-Q2. Net losses remain large at $1.15M. The company is still unprofitable with negative free cash flow. Cost improvements may not be enough to offset shrinking sales and losses.
The price is about 43% below our fair value near $1.72. Analysts expect revenue to fall about 19% next year. The market prices in a continued decline, which matches current weak results.
Breaks if: net income loss exceeds $1,426,000 in 2026-Q2
Focus on reducing net losses through operational improvements and cost discipline.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This is a speculative growth investment with a focus on the energy sector. The current thesis state is cautious, as the company is loss-making but shows potential for improvement in its operating income and revenue growth.
The market appears to have priced in a low level of fragility, reflecting a justified valuation compared to peers. However, there is an expectations gap, indicating that the market may not fully anticipate the challenges ahead.
Management is on track with priorities to improve operating income and cost structure, as well as to increase revenue. Recent financial performance has been neutral, but the company is making strides in reducing expenses and enhancing revenue through increased production.
The long-term thesis hinges on external factors such as inflation trends and sector performance. Key scenarios include the impact of inflation on energy prices and the performance of major sector players that could influence BRN's trajectory.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-09
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: operating income falls below $68,000 in 2026-Q2
Focus on enhancing operating income through cost management and efficiency improvements.
Breaks if: revenue falls below $2,535,000 in 2026-Q2
In the next 1 to 3 years, BRN's performance will depend on its ability to execute on its strategic priorities and external market conditions. Not investment advice.