FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises (NYSE AMERICAN: BDL), operator of Flanigan's Seafood Bar and Grill restaurants and Big Daddy's retail liquor stores, has released its financial results for the 13 weeks ended December 28, 2024. Total revenues increased to $50.26 million from $45.14 million in the same period last year.

The company's restaurant food and bar sales grew to $37.09 million from $33.82 million, while package store sales rose to $12.44 million from $10.60 million. However, net income attributable to Flanigan's Enterprises declined to $55,000 from $109,000, with earnings per share decreasing to $0.03 from $0.06 compared to the previous year.

Positive

• Total revenues increased 11.3% to $50.26M
• Restaurant food and bar sales grew 9.7% to $37.09M
• Package store sales increased 17.3% to $12.44M

Negative

• Net income declined 49.5% to $55,000
• Earnings per share decreased 50% to $0.03

Insights

Financial Analyst

Flanigan's Q4 2024 results present a complex picture that merits careful analysis. The company achieved impressive top-line growth of 11.3%, with total revenues reaching $50.26 million. The standout performer was the package store division, posting a robust 17.3% growth to $12.44 million, significantly outpacing the restaurant segment's 9.7% increase.

The revenue composition reveals an interesting shift in the business mix. Package store sales now represent 24.7% of total revenues, up from 23.5% in the prior year. This shift toward higher-margin retail liquor sales could typically be positive, making the sharp profit decline particularly concerning. Net income dropped 49.5% to $55,000, suggesting severe margin compression despite the favorable revenue mix.

The divergence between strong sales growth and deteriorating profitability indicates significant operational challenges. With restaurant industry margins typically ranging from 3-5%, Flanigan's current profit margin of approximately 0.1% raises red flags about cost management and operational efficiency. The company's ability to drive substantial revenue growth demonstrates strong market positioning and consumer demand, but the failure to translate this into bottom-line results suggests structural issues that need addressing.

Other revenue streams, including franchise-related revenues ($431,000) and rental income ($267,000), showed modest growth but remain relatively minor contributors to the overall business. These stable, recurring revenue streams could provide some buffer against operational volatility, but their small scale limits their impact on overall profitability.

FORT LAUDERDALE, Fla., Feb. 12, 2025 /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 ended December 28, 2024.  The table below sets forth the results on a comparative basis with the 13 weeks ended December 30, 2023.

						(in thousands, except per share amounts)
					13 Weeks Ended			13 Weeks Ended
					December 28, 2024			December 30, 2023
RESTAURANT FOOD AND BAR SALES					$	37,088		$	33,818
PACKAGE STORE SALES						12,435			10,602
FRANCHISE RELATED REVENUES						431			418
RENTAL INCOME						267			253
OTHER REVENUES						41			49
TOTAL REVENUES					$	50,262		$	45,140
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	55		$	109
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	$0.03		$	$0.06

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-302375000.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What was Flanigan's (BDL) total revenue for Q4 2024?

Flanigan's reported total revenue of $50.26 million for the 13 weeks ended December 28, 2024.

How much did Flanigan's (BDL) restaurant sales increase in Q4 2024?

Flanigan's restaurant food and bar sales increased to $37.09 million from $33.82 million in the same period last year.

What was Flanigan's (BDL) earnings per share for Q4 2024?

Flanigan's reported earnings per share of $0.03 for Q4 2024, down from $0.06 in the same period last year.

How did Flanigan's (BDL) package store sales perform in Q4 2024?

Flanigan's package store sales increased to $12.44 million from $10.60 million in the same period last year.

What was Flanigan's (BDL) net income for Q4 2024?

Flanigan's net income was $55,000 for Q4 2024, down from $109,000 in the same period last year.