FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises, Inc. (BDL) reported their financial results for the 13 weeks ended December 30, 2023, showing an increase in total revenues compared to the same period in 2022. Restaurant food and bar sales, package store sales, and franchise-related revenues all saw growth, contributing to the positive performance.

Insights

Financial Analyst

Examining the financial results of Flanigan's Enterprises, we see a notable increase in restaurant food and bar sales and package store sales, indicating a positive revenue trajectory. However, the net income has significantly decreased from the previous year. This discrepancy could suggest increased operational costs, investments in expansion, or possibly one-off expenses affecting profitability. It's crucial to analyze the underlying factors leading to this reduced net income despite higher revenues, as it impacts investor sentiment and the company's valuation.

Moreover, the earnings per share (EPS) have also decreased from $0.34 to $0.06, which is a substantial decline and could influence the stock's performance negatively. Investors should assess the company's dividend policy, payout ratio and future earnings guidance to gauge the long-term sustainability of shareholder returns.

Market Research Analyst

The growth in sales for Flanigan's Enterprises suggests an effective market strategy or increased consumer demand within the restaurant and retail liquor sectors. It's important to consider industry trends, such as dining out frequencies and premiumization of liquor products, which may have contributed to the revenue increase. Comparing these results with industry peers can provide a benchmark for performance.

Furthermore, the franchise-related revenues and rental income streams present a diversified income, which could be a strategic move to mitigate risk. The growth in rental income also indicates potential investment in property assets, which might be a strategic long-term asset allocation.

Economist

From an economic perspective, the financial results of Flanigan's Enterprises need to be contextualized within the broader economic environment. Factors such as inflation, consumer spending power and economic cycles can greatly influence the restaurant and retail industries. The increase in sales could reflect an economic upturn or successful adaptation to inflationary pressures.

In contrast, the decrease in net income could raise questions about the company's cost management and pricing strategies in the face of potential economic headwinds. It's imperative to analyze whether these results are a symptom of broader economic trends or company-specific issues, as this will affect investor confidence and the company's strategic decisions moving forward.

FORT LAUDERDALE, Fla., Feb. 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 ended December 30, 2023. The table below sets forth the results on a comparative basis with the 13 weeks ended December 31, 2022.

					(in thousands, except per share amounts)
					13 Weeks Ended			13 Weeks Ended
					December 30, 2023			December 31, 2022
RESTAURANT FOOD AND BAR SALES					$	33,818		$	31,755
PACKAGE STORE SALES						10,602			9,403
FRANCHISE RELATED REVENUES						418			459
RENTAL INCOME						253			213
OTHER OPERATING INCOME						49			31
TOTAL REVENUES					$	45,140		$	41,861
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	109		$	624
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	0.06		$	0.34

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-302062221.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were the total revenues for Flanigan's Enterprises, Inc. for the 13 weeks ended December 30, 2023?

The total revenues for Flanigan's Enterprises, Inc. for the 13 weeks ended December 30, 2023, were $45,140 thousand.

How did the net income attributable to Flanigan's Enterprises, Inc. compare between the 13 weeks ended December 30, 2023, and December 31, 2022?

The net income attributable to Flanigan's Enterprises, Inc. was $109 thousand for the 13 weeks ended December 30, 2023, compared to $624 thousand for the same period in 2022.

What was the net income per common share for Flanigan's Enterprises, Inc. for the 13 weeks ended December 30, 2023?

The net income per common share for Flanigan's Enterprises, Inc. for the 13 weeks ended December 30, 2023, was $0.06.