FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises, Inc. (NYSE AMERICAN: BDL), operators of Flanigan's Seafood Bar and Grill restaurants and Big Daddy's retail liquor stores, has reported its financial results for the 13 and 39 weeks ended June 29, 2024. Total revenues for the 13-week period increased to $49,102,000 from $45,372,000 in the same period last year. However, net income decreased to $1,121,000 ($0.60 per share) from $1,605,000 ($0.86 per share). For the 39-week period, total revenues rose to $142,311,000 from $131,036,000, but net income declined to $3,172,000 ($1.71 per share) from $4,126,000 ($2.22 per share) in the previous year.

Positive

• Total revenues increased by 8.2% to $49,102,000 for the 13-week period
• Restaurant food and bar sales grew by 6.2% to $38,048,000 for the 13-week period
• Package store sales rose by 17.1% to $10,292,000 for the 13-week period
• Total revenues for the 39-week period increased by 8.6% to $142,311,000

Negative

• Net income for the 13-week period decreased by 30.2% to $1,121,000
• Earnings per share for the 13-week period declined from $0.86 to $0.60
• Net income for the 39-week period decreased by 23.1% to $3,172,000
• Earnings per share for the 39-week period declined from $2.22 to $1.71
• Franchise related revenues decreased for both 13-week and 39-week periods

FORT LAUDERDALE, Fla., Aug. 14, 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 39 weeks ended June 29, 2024.  The table below sets forth the results on a comparative basis with the 13 weeks and the 39 weeks ended July 1, 2023.                                           

					13 Weeks Ended			13 Weeks Ended
					June 29, 2024			July 1, 2023
REVENUES:
RESTAURANT FOOD AND BAR SALES					$	38,048,000		$	35,813,000
PACKAGE STORE SALES						10,292,000			8,791,000
FRANCHISE RELATED REVENUES						428,000			466,000
RENTAL INCOME						278,000			252,000
OTHER OPERATING INCOME						56,000			50,000
TOTAL REVENUES					$	49,102,000		$	45,372,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	1,121,000		$	1,605,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	$0.60		$	$0.86
					39 Weeks Ended			39 Weeks Ended
					June 29, 2024			July 1,  2023
REVENUES:
RESTAURANT FOOD AND BAR SALES					$	108,962,000		$	101,962,000
PACKAGE STORE SALES						31,034,000			26,853,000
FRANCHISE RELATED REVENUES						1,291,000			1,409,000
RENTAL INCOME						844,000			683,000
OTHER OPERATING INCOME						180,000			129,000
TOTAL REVENUES					$	142,311,000		$	131,036,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	3,172,000		$	4,126,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	$1.71		$	$2.22

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-302222725.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What was Flanigan's Enterprises (BDL) total revenue for Q3 2024?

Flanigan's Enterprises (BDL) reported total revenue of $49,102,000 for the 13 weeks ended June 29, 2024.

How did Flanigan's Enterprises (BDL) net income change in Q3 2024 compared to the previous year?

Flanigan's Enterprises (BDL) net income decreased from $1,605,000 in Q3 2023 to $1,121,000 in Q3 2024, a decline of 30.2%.

What was Flanigan's Enterprises (BDL) earnings per share for the 39 weeks ended June 29, 2024?

Flanigan's Enterprises (BDL) reported earnings per share of $1.71 for the 39 weeks ended June 29, 2024.

How did Flanigan's Enterprises (BDL) package store sales perform in Q3 2024?

Flanigan's Enterprises (BDL) package store sales increased by 17.1% to $10,292,000 for the 13 weeks ended June 29, 2024, compared to the same period last year.