FLANIGAN'S REPORTS EARNINGS
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.
- 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.
- 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.
Insights
Flanigan's Enterprises reported an increase in total revenues for both the 13-week and 26-week periods ended March 30, 2024, compared to the same periods in 2023. Restaurant food and bar sales rose to
Similarly, package store sales showed a healthy increase from
Despite these revenue gains, net income for the 26-week period decreased from
Short-term, the company shows robust sales growth, which is a positive indicator. However, the long-term impact will depend on how effectively the company can manage its costs to convert revenue growth into profit growth.
Key considerations include analyzing the company's expense structure, margin trends and potential for operational efficiencies.
Overall, the earnings report presents a mixed picture for investors, balancing strong sales growth with concerns over declining profitability.
The data reveals a consistent increase in revenues across different segments, indicating Flanigan's Enterprises' capability to attract and retain customers in a competitive market. Restaurant food and bar sales, a key driver of revenue, have shown a significant year-over-year increase. This trend suggests that the company is successfully maintaining its market position and perhaps even expanding its customer base.
The package store sales growth is also notable, especially in a market where consumer preferences can be volatile. The increase from
Franchise-related revenues saw a slight decline, which might indicate challenges in this area. It's important for investors to monitor this segment, as it can affect overall growth potential and scalability of the business model.
The increase in rental income and other operating income, albeit smaller contributors, adds to the diversification of revenue streams, which can be seen as a positive step towards financial stability.
From a market research perspective, the overall growth in revenues reflects positively on the company’s strategic initiatives and operational effectiveness. However, the decline in net income highlights the need for a balanced approach towards cost management and growth strategies.
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 | $ | $ | |||||||||
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 | $ | $ | |||||||||
View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-302146834.html
SOURCE FLANIGAN'S ENTERPRISES, INC.
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