FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises (NYSE American: BDL) reported financial results for the 13 weeks and 26 weeks ending March 30, 2024, compared to the same periods ending April 1, 2023. For the 13-week period, total revenues increased to $48.07 million from $43.80 million, driven by growth in restaurant sales and package store sales. Net income rose slightly to $1.94 million from $1.90 million, with basic and diluted earnings per share (EPS) improving to $1.04 from $1.02.

For the 26-week period, total revenues grew to $93.21 million from $85.66 million. However, net income decreased to $2.05 million from $2.52 million, and EPS declined to $1.10 from $1.36. The report highlighted strong increases in restaurant and package store sales but noted a decline in franchise-related revenues.

Positive

• 13-week total revenues increased to $48.07 million from $43.80 million.
• Restaurant sales for the 13-week period rose to $37.10 million from $34.39 million.
• Package store sales for the 13-week period increased to $10.14 million from $8.66 million.
• Rental income for the 13-week period grew to $313,000 from $218,000.
• Net income for the 13-week period rose slightly to $1.94 million from $1.90 million.
• EPS for the 13-week period improved to $1.04 from $1.02.
• 26-week total revenues increased to $93.21 million from $85.66 million.
• Restaurant sales for the 26-week period rose to $70.91 million from $66.15 million.
• Package store sales for the 26-week period increased to $20.74 million from $18.06 million.
• Rental income for the 26-week period grew to $566,000 from $431,000.

Negative

• Franchise-related revenues for the 13-week period decreased to $445,000 from $484,000.
• Net income for the 26-week period decreased to $2.05 million from $2.52 million.
• EPS for the 26-week period declined to $1.10 from $1.36.
• Franchise-related revenues for the 26-week period decreased to $863,000 from $943,000.
• Other operating income for the 26-week period remains low at $124,000 compared to $79,000.

FORT LAUDERDALE, Fla., May 15, 2024 /PRNewswire/ -- FLANIGAN'S ENTERPRISES, INC., (NYSE AMERICAN: BDL) owners and operators of the "Flanigan's Seafood Bar and Grill" restaurants and "Big Daddy's" retail liquor stores, announced results for the 13 weeks and the 26 weeks ended March 30, 2024.  The table below sets forth the results on a comparative basis with the 13 weeks and the 26 weeks ended April 1, 2023.  

						13 Weeks Ended			13 Weeks Ended
	REVENUES					March 30, 2024			April 1, 2023
	RESTAURANT FOOD AND BAR SALES					$	37,096,000		$	34,394,000
	PACKAGE STORE SALES						10,140,000			8,659,000
	FRANCHISE RELATED REVENUES						445,000			484,000
	RENTAL INCOME						313,000			218,000
	OTHER OPERATING INCOME						75,000			48,000
	TOTAL REVENUES					$	48,069,000		$	43,803,000
	NET INCOME ATTRIBUTABLE TO
	FLANIGAN'S ENTERPRISES, INC.					$	1,942,000		$	1,897,000
	NET INCOME PER COMMON SHARE
		BASIC AND DILUTED				$	$1.04		$	$1.02
						26 Weeks Ended			26 Weeks Ended
						March 30, 2024			April 1,  2023
	RESTAURANT FOOD AND BAR SALES					$	70,914,000		$	66,149,000
	PACKAGE STORE SALES						20,742,000			18,062,000
	FRANCHISE RELATED REVENUES						863,000			943,000
	RENTAL INCOME						566,000			431,000
	OTHER OPERATING INCOME						124,000			79,000
	TOTAL REVENUES					$	93,209,000		$	85,664,000
	NET INCOME ATTRIBUTABLE TO
	FLANIGAN'S ENTERPRISES, INC.					$	2,051,000		$	2,521,000
	NET INCOME PER COMMON SHARE
		BASIC AND DILUTED				$	$1.10		$	$1.36

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-302146834.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's total revenues for the 13 weeks ended March 30, 2024?

Flanigan's total revenues for the 13 weeks ended March 30, 2024, were $48.07 million.

What was Flanigan's net income for the 13 weeks ended March 30, 2024?

Flanigan's net income for the 13 weeks ended March 30, 2024, was $1.94 million.

How did Flanigan's restaurant sales perform for the 13 weeks ended March 30, 2024?

Flanigan's restaurant sales for the 13 weeks ended March 30, 2024, were $37.10 million, up from $34.39 million.

What was Flanigan's EPS for the 13 weeks ended March 30, 2024?

Flanigan's EPS for the 13 weeks ended March 30, 2024, was $1.04.

How did Flanigan's package store sales perform for the 26 weeks ended March 30, 2024?

Flanigan's package store sales for the 26 weeks ended March 30, 2024, were $20.74 million, up from $18.06 million.

What were Flanigan's total revenues for the 26 weeks ended March 30, 2024?

Flanigan's total revenues for the 26 weeks ended March 30, 2024, were $93.21 million.

What was Flanigan's net income for the 26 weeks ended March 30, 2024?

Flanigan's net income for the 26 weeks ended March 30, 2024, was $2.05 million.

What was Flanigan's EPS for the 26 weeks ended March 30, 2024?

Flanigan's EPS for the 26 weeks ended March 30, 2024, was $1.10.

What were Flanigan's franchise-related revenues for the 26 weeks ended March 30, 2024?

Flanigan's franchise-related revenues for the 26 weeks ended March 30, 2024, were $863,000.