Overview
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- TickerBBXIB on OTC1
- IndustryRetail-Food Stores1
- HeadquartersFort Lauderdale, Florida1
- Business address201 East Las Olas Boulevard, Suite 1900, Fort Lauderdale, Fl 333013
- Filer category, Emerging growth company3
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BBX Capital, Inc. (referred to together with its subsidiaries as the “Company,” “we,” “us,” or “our,” and without its subsidiaries as “BBX Capital”) is a Florida-based diversified holding company whose principal holdings are The Altman Companies, LLC (“Altman”), which was formerly known as BBX Capital Real Estate, LLC (“BBX Capital Real Estate or “BBXRE”), BBX Sweet Holdings, LLC (“BBX Sweet Holdings” or “BBXSH”), and Renin Holdings, LLC (“Renin”).5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Selling, general and admin46¢$135.7M
- Other costs51¢$151.5M
- Interest1¢$3.1M
- Income tax3¢$7.7M
Out of $298.0M in revenue.2 The company lost money this year.
Financial statements
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $197.3M6 | $185.4M7 | $167.6M8 | $303.6M9 | $308.1M2 | $388.9M2 | $298.0M2 | |
| Selling, general and admin | $91.8M6 | $90.8M7 | $66.0M8 | $76.0M9 | $116.2M2 | $136.1M2 | $135.7M2 | |
| Operating expenses | $284.6M9 | $339.5M2 | $446.5M2 | $369.6M2 | ||||
| Operating income | -$17.6M6 | -$9.5M7 | -$55.1M8 | $29.0M9 | $2.5M2 | -$45.2M2 | -$62.4M2 | |
| Interest | $803.0K6 | $433.0K7 | $237.0K8 | $1.4M9 | $2.4M2 | $3.1M2 | $3.1M2 | |
| Income before tax | $64.2M9 | $42.8M2 | -$21.7M2 | -$56.9M2 | ||||
| Income tax | $2.9M6 | $8.3M7 | -$11.2M8 | $17.2M9 | $15.1M2 | -$2.1M2 | $7.7M2 | |
| Net income | -$9.2M6 | $13.7M7 | -$42.3M8 | $46.9M9 | $28.0M2 | -$20.8M2 | -$63.9M2 | |
| Earnings per share | -$2.198 | $2.639 | $1.812 | -$1.442 | -$4.672 | |||
| Earnings per share (diluted) | -$2.198 | $2.639 | $1.812 | -$1.442 | -$4.672 | |||
| Shares (weighted, basic) | 17.8M shares9 | 15.5M shares2 | 14.4M shares2 | 13.7M shares2 | ||||
| Shares (weighted, diluted) | 17.8M shares9 | 15.5M shares2 | 14.4M shares2 | 13.7M shares2 |
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash | $27.4M6 | $22.1M6 | $20.7M7 | $90.0M8 | $118.0M9 | $127.6M2 | $90.3M2 | $87.7M2 |
| Inventory | $41.9M8 | $48.9M9 | $33.8M2 | $30.8M2 | ||||
| Property, plant and equipment | $30.6M8 | $35.1M9 | $40.7M2 | $36.5M2 | ||||
| Goodwill | $18.4M2 | $18.4M2 | $49.6M2 | $49.6M2 | ||||
| Intangible assets | $32.0M8 | $29.4M9 | $26.8M2 | $24.3M2 | ||||
| Total assets | $310.0M6 | $361.5M7 | $447.7M8 | $533.4M9 | $562.8M2 | $674.2M2 | $603.0M2 | |
| Total liabilities | $175.3M6 | $138.4M7 | $209.3M8 | $223.9M9 | $302.7M2 | $294.4M2 | ||
| Retained earnings | $9.2M8 | $20.4M9 | -$1.8M2 | -$65.7M2 | ||||
| Shareholders’ equity | $238.8M6 | $237.5M7 | $181.2M6 | $309.2M7 | $321.8M8 | $334.3M9 | $311.5M2 | $245.6M2 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $11.2M6 | $22.7M7 | -$6.2M8 | $37.8M9 | $36.3M2 | -$11.2M2 | -$34.0M2 | |
| Depreciation and amortization | $7.3M9 | $10.7M2 | $11.0M2 | $11.5M2 | ||||
| Stock-based compensation | $09 | $3.4M2 | $5.4M2 | $5.7M2 | ||||
| Capital spending | $12.8M6 | $11.1M7 | $5.3M8 | $8.5M9 | $14.7M2 | $15.1M2 | $7.2M2 | |
| Free cash flow | -$1.6M | $11.6M | -$11.5M | $29.3M | $21.6M | -$26.3M | -$41.2M | |
| Cash from investing | $36.8M9 | $578.0K2 | -$15.1M2 | $15.1M2 | ||||
| Share buybacks | $08 | $22.8M9 | $1.1M2 | $02 | $4.4M2 | |||
| Cash from financing | -$46.0M9 | -$27.6M2 | $9.6M2 | $24.3M2 |
Corporate structure
BBX Capital, Inc. sits at the top of its group. 112 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of BBX Capital, Inc.
- Mink Brook Partners LP Filed SC 13G/A on BBX Capital, Inc., latest Nov 12, 2024 (4 filings since Dec 22, 2022)
- Levan Partners LLC Filed SC 13D/A on BBX Capital, Inc., latest Feb 9, 2024
- ANGELO GORDON & CO., L.P. Filed SC 13D/A on BBX Capital, Inc., latest Nov 24, 2021
- BBX Capital, Inc. Fort Lauderdale, Florida
- 11240 Biscayne Manager, LLC Subsidiary · Florida, United States
- Altis Blue Lake Manager, LLC Subsidiary · Florida, United States
- Altis Lake Willis II Manager, LLC Subsidiary · Florida, United States
- Altis Lake Willis Manager, LLC Subsidiary · Florida, United States
- Altis Santa Barbara -Naples Manager, LLC Subsidiary · Florida, United States
- Altis Suncoast Pasco Manager, LLC Subsidiary · Florida, United States
- Altman 11240 Biscayne Manager, LLC Subsidiary · Florida, United States
- Altman Builders, LLC Subsidiary · Florida, United States
- Altman Development Company Subsidiary · Florida, United States
- Altman Guaranty Investments. LLC Subsidiary · Florida, United States
- Altman Living Guaranty, LLC Subsidiary · Florida, United States
- Altman Living Project Investments, LLC Subsidiary · Florida, United States
- Altman Living, LLC Subsidiary · Florida, United States
- Altman Logistics Development, LLC Subsidiary · Florida, United States
- Altman Logistics Guaranty, LLC Subsidiary · Florida, United States
- Altman Logistics Project Investments, LLC Subsidiary · Florida, United States
- Altman Logistics Properties, LLC Subsidiary · Florida, United States
- Altman Management, LLC Subsidiary · Florida, United States
- Altman Operating Entities, LLC Subsidiary · Florida, United States
- Altman Opportunity Investments, LLC Subsidiary · Florida, United States
- Altra Kendall Holdings, LLC Subsidiary · Florida, United States
- Altra Kendall Manager, LLC Subsidiary · Florida, United States
- Altra Kendall Owner, LLC Subsidiary · Florida, United States
- Altra Kendall Sponsor, LLC Subsidiary · Florida, United States
- Altra Kendall Venture, LLC Subsidiary · Florida, United States
- and 86 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What BBX Capital, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $74.7M2 Dec 31, 2024 | $72.7M2 Dec 31, 2023 | +2.8% |
| Accumulated depreciation | $38.2M2 Dec 31, 2024 | $32.0M2 Dec 31, 2023 | +19.5% |
| Property and equipment, net | $36.5M2 Dec 31, 2024 | $40.7M2 Dec 31, 2023 | −10.4% |
| Operating-lease assets (leased space) | $105.3M2 Dec 31, 2024 | $117.9M2 Dec 31, 2023 | −10.7% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $2.5M2 Dec 31, 2024 | $3.0M2 Dec 31, 2023 | −16.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $87.7M2 Dec 31, 2024 | $90.3M2 Dec 31, 2023 | −2.9% |
| Debt securities available for sale | $829.0K2 Dec 31, 2024 | $44.6M2 Dec 31, 2023 | −98.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $49.6M2 Dec 31, 2024 | $49.6M2 Dec 31, 2023 | 0% |
| Intangible assets, net (excluding goodwill) | $24.3M2 Dec 31, 2024 | $26.8M2 Dec 31, 2023 | −9.6% |
| Finite-lived intangibles, gross | $35.7M2 Dec 31, 2024 | $35.8M2 Dec 31, 2023 | −0.2% |
| Accumulated amortization | $11.5M2 Dec 31, 2024 | $8.9M2 Dec 31, 2023 | +28.1% |
| Finite-lived intangibles, net | $24.3M2 Dec 31, 2024 | $26.8M2 Dec 31, 2023 | −9.6% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $30.8M2 Dec 31, 2024 | $33.8M2 Dec 31, 2023 | −8.8% |
| Raw materials | $5.2M2 Dec 31, 2024 | $5.6M2 Dec 31, 2023 | −7.1% |
| Work in process | $1.1M2 Dec 31, 2024 | $618.0K2 Dec 31, 2023 | +84.3% |
| Finished goods | $24.7M2 Dec 31, 2024 | $27.4M2 Dec 31, 2023 | −9.8% |
| Supplies | $1.4M2 Dec 31, 2024 | $1.6M2 Dec 31, 2023 | −12.2% |
Properties, in its own words
BBX Capital’s principal executive office is located at 201 East Las Olas Boulevard, Suite 1900, Fort Lauderdale, Florida, 33301, which is leased by the Company pursuant to a lease agreement with an expiration date of May 31, 2032. The lease agreement provides the Company with the right to renew the lease for three additional terms of five years following the initial term.
BBX Sweet Holdings maintains certain offices at BBX Capital’s principal executive office, including the executive offices of IT’SUGAR. IT’SUGAR operates over 120 IT'SUGAR retail locations in 28 states and Canada subject to leases that expire between 2025 and 2035. Las Olas Confections and Snacks operates a manufacturing facility in Orlando, Florida that is being leased by it pursuant to a lease agreement that expires in 2025, subject to three one-year renewal options that may be exercised by the Company.
The rest of Item 2
Renin’s principal executive office is located at 110 Walker Drive, Brampton, Ontario, which is leased by Renin pursuant to a lease agreement with an expiration date of December 31, 2027. Renin also leases five manufacturing and distribution facilities in the United States and Canada, one of which is located at its principal executive office. These leases have initial expiration dates of April 30, 2025, December 31, 2026, and December 31, 2029. The two leases that initially expire on December 31, 2026 provide Renin with the right to renew the terms of the respective lease for five additional terms of five years each commencing after the initial expiration dates, and the lease that expires on December 31, 2029 provides Renin with the right to renew the terms of the lease for five years commencing after the respective expiration dates. Renin is no longer operating its manufacturing and distribution facility for which the lease expires on April 30, 2025.
The Altman Companies maintains office space in Palm Beach County, Florida that is subject to a lease that expires on July 31, 2029.
Item 2 of the 10-K filed Mar 24, 2025.5
Leadership
Who has led BBX Capital, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerJarett Levan Oct 9, 2020 to Feb 2, 202413
- ChairAlan B. Levan Oct 9, 2020 to Oct 2, 202414
- PresidentJarett Levan Oct 9, 2020 to Feb 2, 202413
- Chief financial officerBrett Sheppard Oct 9, 2020 to Oct 2, 202415
Board members and other officers (13)
- Vice chairJohn E. Abdo Oct 9, 2020 to Oct 2, 202316
- Executive Vice PresidentSeth M. Wise Oct 9, 2020 to Oct 2, 202417
- Board memberMarcia Barry-Smith Sep 27, 2021 to Sep 27, 202118
- Board memberAndrew R. Cagnetta Jr. Oct 9, 2020 to Oct 9, 202019
- Board memberAnthony P. Segreto Oct 9, 2020 to Oct 9, 202020
- Board memberGregory Adam Haile Oct 9, 2020 to Oct 9, 202021
- Board memberJarett Levan Oct 9, 2020 to Feb 2, 202413
- Board memberJohn E. Abdo Oct 9, 2020 to Oct 2, 202316
- Board memberNeil Sterling Oct 9, 2020 to Oct 9, 202022
- Board memberNorman H. Becker Oct 9, 2020 to Oct 9, 202023
- Board memberSeth M. Wise Oct 9, 2020 to Oct 2, 202417
- Board memberSteven Coldren Oct 9, 2020 to Oct 9, 202024
- Board memberWillis Holcombe Oct 9, 2020 to Oct 9, 202025
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 11240 Biscayne Manager, LLC Florida4
- Altis Blue Lake Manager, LLC Florida4
- Altis Lake Willis II Manager, LLC Florida4
- Altis Lake Willis Manager, LLC Florida4
- Altis Santa Barbara -Naples Manager, LLC Florida4
- Altis Suncoast Pasco Manager, LLC Florida4
- Altman 11240 Biscayne Manager, LLC Florida4
- Altman Builders, LLC Florida4
- Altman Development Company Florida4
- Altman Guaranty Investments. LLC Florida4
- Altman Living Guaranty, LLC Florida4
- Altman Living Project Investments, LLC Florida4
- Altman Living, LLC Florida4
- Altman Logistics Development, LLC Florida4
- Altman Logistics Guaranty, LLC Florida4
- Altman Logistics Project Investments, LLC Florida4
- Altman Logistics Properties, LLC Florida4
- Altman Management, LLC Florida4
- Altman Operating Entities, LLC Florida4
- Altman Opportunity Investments, LLC Florida4
- Altra Kendall Holdings, LLC Florida4
- Altra Kendall Manager, LLC Florida4
- Altra Kendall Owner, LLC Florida4
- Altra Kendall Sponsor, LLC Florida4
All 111 listed subsidiaries
- Altra Kendall Venture, LLC Florida4
- Anastasia Confections, Inc Florida4
- B-26 Holdings, LLC Florida4
- B-D2 Holdings, LLC Florida4
- B-DJ Holdings, LLC Florida4
- BBX Altis Lake Willis II Investor, LLC Florida4
- BBX Altis Projects 2021, LLC Florida4
- BBX Altis Projects 2022, LLC Florida4
- BBX Altis Projects 2023, LLC Florida4
- BBX Altis Suncoast Investor, LLC Florida4
- BBX Altra Kendall Investor, LLC Florida4
- BBX Capital Asset Management LLC Florida4
- BBX Capital Partners, LLC Florida4
- BBX Equity Partners 2021, LLC Florida4
- BBX Equity Partners 2022, LLC Florida4
- BBX Equity Partners 2023 LLC Florida4
- BBX Grand Central, LLC Florida4
- BBX Las Olas Investments, LLC Florida4
- BBX Logistics Partners 2023, LLC Florida4
- BBX Logistics Partners 2024, LLC Florida4
- BBX Logistics Projects 2023, LLC Florida4
- BBX Logistics Projects 2024, LLC Florida4
- BBX Miramar, LLC Florida4
- BBX Partners, Inc Florida4
- BBX Sky Cove, LLC Florida4
- BBX Sweet Holdings, LLC Florida4
- BFC/CCC, Inc. Florida4
- Banc Servicing Center, LLC Florida4
- Confections by Design, LLC Florida4
- D-2 Acquisition Florida4
- Davie Logistics Park Manager, LLC Florida4
- Delray Logistics Park Manager, LLC Florida4
- Eden Services, Inc. Florida4
- FAR 2, LLC Florida4
- FAR 5, LLC Florida4
- FAR Holdings Group, LLC Florida4
- FL Billboards, LLC Florida4
- FL Cell Tower, LLC Florida4
- FT Properties, LLC Florida4
- Fidelity Tax, LLC Florida4
- Florida Asset Resolution Group, LLC Florida4
- Hamilton Logistics Park Manager, LLC Florida4
- Heartwood 11, LLC Florida4
- Heartwood 18, LLC Florida4
- Heartwood 2, LLC Florida4
- Heartwood 21, LLC Florida4
- Heartwood 23, LLC Florida4
- Heartwood 24, LLC Florida4
- Heartwood 3, LLC Florida4
- Heartwood 4, LLC Florida4
- Heartwood 43, LLC Florida4
- Heartwood 47, LLC Florida4
- Heartwood 50, LLC Florida4
- Heartwood 55, LLC Florida4
- Heartwood 56, LLC Florida4
- Heartwood 57, LLC Florida4
- Heartwood 58, LLC Florida4
- Heartwood 88, LLC Florida4
- Heartwood 91, LLC Florida4
- Heartwood 91-2, LLC Florida4
- Heartwood Partners 1, LLC Florida4
- Heartwood Partners 2, LLC Florida4
- Hoffman’s Chocolates and Sweets, LLC Florida4
- I.R.E. Energy 1981, Inc. Florida4
- I.R.E. Property Analysts, Inc. Florida4
- IT'Sugar Canada Inc. Canada4
- IT'Sugar FL III, LLC Florida4
- IT’SUGAR Holdings. LLC Florida4
- IT’SUGAR, LLC Delaware4
- IT’Sugar FL I, LLC Florida4
- IT’Sugar FL II, LLC Florida4
- IT’Sugar FLGC, LLC Florida4
- JX Palm Coast Land, LLC Florida4
- Kingsway Services Inc. Florida4
- LAS Trademark, LLC Florida4
- Lakeland Logistics Park Manager, LLC Florida4
- Las Olas Confections and Snacks, LLC Florida4
- Orange Blossom Apartment Manager, LLC Florida4
- Parsippany Logistics Park Manager, LLC Florida4
- Renin Canada Corporation Canada4
- Renin Holdings, LLC Florida4
- Renin US, LLC Mississippi4
- Risk Management Services, LLC Florida4
- SHL Holdings, Inc Florida4
- Sunrise Atlantic, LLC Florida4
- The Altman Companies, LLC Florida4
- The Hoffman Commercial Group, Inc. Florida4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- BBX Capital Florida LLCJun 17, 2020 to Sep 29, 20203
Timeline
- Apr 8, 20258-K Other events26
- Nov 12, 20248-K Results of operations27
- Aug 9, 20248-K Results of operations28
- Jul 8, 20248-K Other events29
- May 21, 20248-K Executive or director change; Shareholder vote30
- May 10, 20248-K Results of operations31
- Mar 15, 20248-K Results of operations32
- Nov 15, 20238-K Other events33
- Nov 8, 20238-K Results of operations34
- Oct 10, 20238-K New debt or obligation35
- Aug 9, 20238-K Results of operations36
- Jul 14, 20238-K Other events37
- Oct 9, 2020New chief executive Jarett Levan becomes CEO13
Calendar
When it reported results
- Nov 12, 2024Reported quarterly or annual results27
- Aug 9, 2024Reported quarterly or annual results28
- May 10, 2024Reported quarterly or annual results31
- Mar 15, 2024Reported quarterly or annual results32
- Nov 8, 2023Reported quarterly or annual results34
- Aug 9, 2023Reported quarterly or annual results36
- May 10, 2023Reported quarterly or annual results38
- Mar 15, 2023Reported quarterly or annual results39
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
115 filings to the SEC since October 2021: 5 annual reports, 10 quarterly reports, 34 major events, 38 insider forms, 6 large holders, 22 other. The latest 20:
- Apr 8, 20258-K EDGAR
- Apr 8, 202515-12G EDGAR
- Mar 25, 202510-K/A EDGAR
- Mar 24, 202510-K EDGAR
- Mar 21, 2025S-8 POS EDGAR
- Mar 21, 2025S-8 POS EDGAR
- Mar 21, 2025S-8 POS EDGAR
- Nov 12, 20248-K EDGAR
- Nov 12, 202410-Q EDGAR
- Nov 12, 2024SC 13G/A AMENDMENT NO. 3 EDGAR
- Oct 2, 20244 EDGAR
- Oct 2, 20244 EDGAR
- Oct 2, 20244 EDGAR
- Aug 9, 20248-K EDGAR
- Aug 9, 202410-Q EDGAR
- Jul 8, 20248-K EDGAR
- Jun 26, 2024S-8 EDGAR
- May 21, 20248-K EDGAR
- May 10, 20248-K EDGAR
- May 10, 202410-Q EDGAR
The 115 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 2 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 2, 2024 | LEVAN JARETTCEO and President | Buy | 415,395 | $11.08 | $4.6M | Form 4 |
| Jul 12, 2023 | LEVAN JARETTCEO and President | Buy | 121,698 | $11.20 | $1.4M | Form 4 |
| Jul 12, 2023 | LEVAN ALAN BChairman | Sale | 62,062 | $11.20 | $695.1K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Mink Brook Partners LPSC 13G/A, 4 filings Dec 22, 2022 to Nov 12, 202440
- Levan Partners LLCSC 13D/A, 1 filing Feb 9, 202441
- ANGELO GORDON & CO., L.P.SC 13D/A, 1 filing Nov 24, 202142
SEC filer profile
How BBX Capital, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARBBX Capital, Inc.1
- CIK0001814974
- Employer ID (EIN)82-46691465
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inFlorida5
- Fiscal year endsDecember 311
- Industry code (SIC)5400 Retail-Food Stores1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address201 East Las Olas Boulevard, Suite 1900, Fort Lauderdale, FL 333011
- Phone95494040001
- Shares outstanding10,389,013 Common Class A shares; 3,854,194 Common Class B shares as of Mar 11, 20255
- Public float$57.0M as of Jun 30, 20245
- AuditorGRANT THORNTON LLP, Fort Lauderdale, Florida PCAOB ID 248; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceJun 17, 20201
- Filings176 in all: 8-K (53), 4 (40), 10-Q (13), 3 (13), SC TO-I/A (12), 10-K (5), DEF 14A (4), SC 13D/A (4)1
All 23 form types
CORRESP (3), S-8 (3), S-8 POS (3), SC 13D (3), SC 13G/A (3), SC TO-C (3), SC TO-I (3), UPLOAD (3), 10-12G/A (2), 10-12G (1), 10-K/A (1), 15-12G (1), 8-K/A (1), ARS (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Mar 24, 2025
Quarterly report (10-Q) Nov 12, 2024
Proxy statement (DEF 14A) Apr 24, 2024
Latest 8-K (8-K) Apr 8, 2025
Risk factors and legal proceedings
The risks BBX Capital, Inc. names in Item 1A of its 10-K filed Mar 24, 2025: 39 risks under these headings, as written.5
- Risks Related to BBX Capital and its Subsidiaries
- Current economic and market conditions, including, but not limited to, elevated interest rates, new and expanded tariffs, a decline in consumer confidence and spending, inflationary conditions that have significantly increased the costs of operating our businesses (including raw materials, products, labor, and freight), widespread supply chain disruptions, and the potential for increased unemployment as a result of the restructuring of the federal government, has and could continue to adversely impact gross margins, operating margins, and the results of the Company’s operating businesses.
- BBX Capital and its subsidiaries would be negatively impacted by the implementation of tariffs on goods traded in international markets.
- The reduced availability of financing or the increase in the cost of borrowing could have an adverse impact on Altman's business.
- BBX Capital relies on cash on hand and dividends from its subsidiaries.
- BBX Capital’s subsidiaries may be dependent on BBX Capital to provide liquidity.
- BBX Capital and its subsidiaries may have short and long term hiring, retention, employee development and succession planning challenges.
- BBX Capital may issue additional securities at BBX Capital or its subsidiaries and BBX Capital and its subsidiaries can incur additional indebtedness.
- BBX Capital's Class A Common Stock and Class B Common Stock trade in the over-the-counter ("OTC") markets, which have less liquidity than exchange-listed stocks, and BBX Capital is considering deregistering its securities and suspending its reporting obligations under the Exchange Act.
- Reduced disclosure requirements applicable to BBX Capital may make BBX Capital’s common stock less attractive to investors.
- Alan B. Levan, John E. Abdo, Jarett S. Levan and Seth M. Wise’s control position may adversely affect the market price of BBX Capital’s Class A Common Stock and Class B Common Stock.
- BBX Capital’s Articles of Incorporation provide for fixed relative voting percentages between BBX Capital’s Class A Common Stock and Class B Common Stock.
The other 28 risks
- Provisions in BBX Capital’s Articles of Incorporation and Bylaws, and provisions of Florida law may make it difficult for a third party to acquire BBX Capital and could impact the price of, or otherwise adversely impact, BBX Capital’s Class A Common Stock and Class B Common Stock.
- BBX Capital’s Bylaws contain an exclusive forum provision, which could impair the ability of shareholders to obtain a favorable judicial forum for certain disputes with BBX Capital or its directors, officers or other employees and be cost-prohibitive to shareholders.
- BBX Capital does not plan to pay dividends on its common stock.
- BBX Capital is focusing on cost saving and efficiency initiatives in all of its businesses, including Altman, IT’SUGAR, and Renin, which could have a material adverse effect on its results of operations and financial condition.
- Risks Related to The Altman Companies (formerly BBX Capital Real Estate) ("Altman")
- Investments by Altman in real estate developments directly or through joint ventures expose it to market and economic risks inherent in the real estate construction and development industry.
- A significant portion of Altman’s real estate assets are located in Florida, and conditions in the Florida real estate market could adversely affect our earnings and financial condition.
- Overbuilding of new developments, including multifamily apartments and logistics facilities, or oversupply of available apartments, alternative housing options, and/or logistics facilities could adversely affect occupancy or rental rates and/or require rent concessions in order to execute lease agreements.
- Altman’s inability to finance its real estate developments through Community Development District Bonds or obtain performance bonds or letters of credit could adversely affect its results of operations and liquidity.
- Some of Altman’s investments are through unconsolidated joint ventures with others, and some are guaranteed by us or entities that we control and we may be adversely impacted by a joint venture partner’s failure to fulfill its obligations.
- The Company is subject to environmental laws related to its real estate activities including claims with respect to mold or hazardous or toxic substances, which could have a material adverse impact on our financial condition and operating results.
- In 2021, Altman established Altman Logistics, a developer of warehouse and logistics facilities, as a new line of business, and Altman has invested capital in joint ventures developing logistics facilities both in Florida and in geographic locations outside of Florida. The expansion of Altman’s operations into a new asset type and into new markets could have a material adverse effect on the Company’s results of operations.
- Altman invests a substantial amount of capital in costs for predevelopment activities related to potential developments that may not move forward.
- Risk Related to BBX Sweet Holdings
- BBX Capital’s investment in companies in the confectionery industry may result in additional losses and impairments.
- Market demand for candy products could decline further.
- BBXSH may experience product recalls or product liability claims.
- Risks Related to Renin
- Renin’s sales are concentrated with big-box home center customers, and there is significant competition in the industry.
- A significant portion of Renin’s business relies on home improvement and new home construction activity, both of which are cyclical and outside of management’s control.
- Renin’s operating results will continue to be negatively impacted if it continues to experience increased commodity costs or a limited availability of commodities and if it is adversely impacted by tariffs or turmoil in the markets.
- Increases in interest rates have had and may continue to have an adverse effect on Renin's operating results.
- Renin has relied on financing which may not be available from third parties or from BBX Capital.
- General Risks
- The market price of BBX Capital’s Class A Common Stock and Class B Common Stock may be volatile or may decline and there may be insufficient liquidity in the markets for its stock.
- The Company’s technology requires continuous updating, the cost involved in updating the technology may be significant, and the failure to keep pace with developments in technology could impair the Company’s operations or competitive position.
- Information technology failures and failure to maintain the integrity of the Company’s internal or customer data could impact business decisions or result in operational inefficiencies, damage the Company’s reputation and/or subject the Company to costs, fines, or lawsuits.
- The Company’s insurance policies do not cover all potential losses, and the cost of insurance has increased and may continue to increase.
- Adverse outcomes in legal or other regulatory proceedings, including claims of non-compliance with applicable regulations or development-related defects could adversely affect the Company’s financial condition and operating results.
- Unexpected events, such as public health issues, natural disasters, geopolitical conflicts, civil unrest, severe weather and terrorist activities, may disrupt the Company’s operations and increase our costs.
- Climate change, or legal, regulatory or market measures to address climate change, could have an adverse impact on the Company’s business and results of operations.
- There are inherent uncertainties involved in estimates, judgments and assumptions used in the preparation of financial statements in accordance with GAAP. Any changes in estimates, judgments and assumptions used could have a material adverse effect on our financial condition and operating results.
Legal proceedings
In the ordinary course of business, BBX Capital and its subsidiaries are parties to lawsuits as plaintiff or defendant involving its operations and activities. Additionally, from time to time in the ordinary course of business, the Company is involved in disputes with existing and former employees, vendors, taxing jurisdictions, and various other parties and also receives individual consumer complaints as well as complaints received through regulatory and consumer agencies. The Company takes these matters seriously and attempts to resolve any such issues as they arise. Although BBX Capital and its subsidiaries believe that they have meritorious defenses in all current legal actions, the outcome of litigation and regulatory matters and timing of ultimate resolution are inherently difficult to predict and uncertain.
There were no material pending legal proceedings against BBX Capital or its subsidiaries as of December 31, 2024.
The opening of Item 3, Legal Proceedings.5
Sources
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- 14SEC EDGARAlan B. Levan, Chair
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- 16SEC EDGARJohn E. Abdo, Vice chair
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- 18SEC EDGARMarcia Barry-Smith, Board member
- 19SEC EDGARAndrew R. Cagnetta Jr., Board member
- 20SEC EDGARAnthony P. Segreto, Board member
- 21SEC EDGARGregory Adam Haile, Board member
- 22SEC EDGARNeil Sterling, Board member
- 23SEC EDGARNorman H. Becker, Board member
- 24SEC EDGARSteven Coldren, Board member
- 25SEC EDGARWillis Holcombe, Board member
- 26SEC EDGAROther events
- 27SEC EDGARResults of operations
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- 31SEC EDGARResults of operations
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- 34SEC EDGARResults of operations
- 35SEC EDGARNew debt or obligation
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