Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 10, 2024

BBX CAPITAL, INC.

(Exact name of registrant as specified in its charter)

Florida		000-56177		82-4669146
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

201 East Las Olas Boulevard, Suite 1900, Fort Lauderdale, Florida				33301
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code: 954-940-4900

Not applicable

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 2.02. Results of Operations and Financial Condition

On May 10, 2024, BBX Capital, Inc. (the “Company”) issued a press release that included its financial results for the three months ended March 31, 2024, a copy of which is attached hereto as Exhibit 99.1. The information in this report (including Exhibit 99.1) is being furnished pursuant to Items 2.02 and 9.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act. This report shall not be deemed an admission as to the materiality of any information in the press release furnished herewith.

Item 9.01. Financial Statements and Exhibits.

d) Exhibit.

	99.1	Press Release dated May 10, 2024
	104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 10, 2024

	BBX Capital, Inc.


	By:	/s/ Brett Sheppard
		Brett Sheppard
		Chief Financial Officer

Exhibit 99.1

BBX Capital, Inc. Reports Financial Results

For the First Quarter of 2024

FORT LAUDERDALE, Florida – May 10, 2024 -- BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) (“BBX Capital” or the “Company”) reported today its financial results for the first quarter of 2024.

Selected highlights of BBX Capital’s consolidated financial results include:

First Quarter 2024 Compared to First Quarter 2023

●

Total consolidated revenues of $81.0 million vs. $95.0 million

●

Loss before income taxes of $(15.4) million vs. income before taxes of $9.2 million

●

Net loss attributable to shareholders of $(13.0) million vs. net income attributable to shareholders of $7.9 million

●

Diluted loss per share of ($0.94) vs. diluted earnings per share of $0.55

Balance Sheet as of March 31, 2024

●

Cash and cash equivalents of $108.2 million (including $3.1 million held in variable interest entities)

●

Securities available for sale of $30.6 million

●

Total consolidated assets of $657.9 million

●

Total shareholders' equity of $299.3 million

●

Fully diluted book value per share of $20.20 ⁽¹⁾

(1)

Fully diluted book value per share is shareholders’ equity divided by the number of BBX Capital’s Class A and Class B common shares and unvested restricted stock awards outstanding on March 31, 2024.

Additional Information

For more complete and detailed information regarding BBX Capital and its financial results, business, operations, investments, and risks, please see BBX Capital’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, which will be available on the SEC's website, https://www.sec.gov, and on BBX Capital’s website, www.BBXCapital.com on May 10, 2024.

About BBX Capital, Inc.: BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) is a Florida-based diversified holding company whose principal holdings include BBX Capital Real Estate, BBX Sweet Holdings, and Renin. For additional information, please visit www.BBXCapital.com.

BBX Capital, Inc. Contact Info:

Investor Relations Contact:

Leslie Martinez, Investor Relations

P: 954-940-5300

Email: investorrelations@BBXCapital.com

Media Relations Contact:

Kip Hunter, Kip Hunter Marketing

P: 954-303-5551

Email: kip@kiphuntermarketing.com

Document And Entity Information	May 10, 2024
Document Information [Line Items]
Entity, Registrant Name	BBX CAPITAL, INC.
Document, Type	8-K
Document, Period End Date	May 10, 2024
Entity, Incorporation, State or Country Code	FL
Entity, File Number	000-56177
Entity, Tax Identification Number	82-4669146
Entity, Address, Address Line One	201 East Las Olas Boulevard
Entity, Address, Address Line Two	Suite 1900
Entity, Address, City or Town	Fort Lauderdale
Entity, Address, State or Province	FL
Entity, Address, Postal Zip Code	33301
City Area Code	954
Local Phone Number	940-4900
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity, Emerging Growth Company	true
Entity, Ex Transition Period	true
Amendment Flag	false
Entity, Central Index Key	0001814974