FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

Flanigan's Enterprises, owners of Flanigan's Seafood Bar and Grill and Big Daddy's retail liquor stores, reported financial results for the 13 and 26 weeks ending April 2, 2022. The company achieved total revenues of $40.33 million for the 13 weeks and $77.73 million for the 26 weeks, a notable increase from $34.36 million and $65.74 million respectively in the prior year. Net income for the latest 13 weeks was $1.66 million or $0.89 per share, down from $2.45 million or $1.32 per share last year, indicating a need for improved profitability.

Positive

• Total revenues increased to $40.33 million for the 13 weeks, up from $34.36 million year-over-year.
• Restaurant food and bar sales rose to $31.44 million for the quarter, compared to $25.74 million the previous year.
• Package store sales grew to $8.15 million, an increase from $7.83 million in the same period last year.

Negative

• Net income decreased to $1.66 million for the latest 13 weeks, down from $2.45 million a year ago.
• Net income per share also fell to $0.89, compared to $1.32 per share in the prior year.

FORT LAUDERDALE, Fla., May 31, 2022 /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, today announced results for the 13 weeks and the 26 weeks ended April 2, 2022. The table below sets forth the results on a comparative basis with the 13 weeks and 26 weeks ended April 3, 2021.

					13 Weeks Ended			13 Weeks Ended
REVENUES					April 2, 2022			April 3, 2021
RESTAURANT FOOD AND BAR SALES					$	31,444,000		$	25,739,000
PACKAGE STORE SALES						8,148,000			7,830,000
FRANCHISE RELATED REVENUES						478,000			422,000
RENTAL INCOME						199,000			226,000
OTHER OPERATING INCOME (LOSS)						61,000			140,000
TOTAL REVENUES					$	40,330,000		$	34,357,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	1,660,000		$	2,451,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	0.89		$	1.32
					26 Weeks Ended			26 Weeks Ended
					April 2, 2022			April 3, 2021
RESTAURANT FOOD AND BAR SALES					$	59,656,000		$	48,510,000
PACKAGE STORE SALES						16,659,000			15,841,000
FRANCHISE RELATED REVENUES						924,000			808,000
RENTAL INCOME						398,000			413,000
OTHER OPERATING INCOME						96,000			165,000
TOTAL REVENUES					$	77,733,000		$	65,737,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	3,224,000		$	3,231,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	1.73		$	1.74

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-301558038.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's Enterprises earnings results for Q2 2022?

Flanigan's Enterprises reported total revenues of $40.33 million for the 13 weeks ended April 2, 2022, a year-over-year increase from $34.36 million.

How did Flanigan's Enterprises net income change in Q2 2022?

Net income decreased to $1.66 million for the 13 weeks ended April 2, 2022, compared to $2.45 million in the same period last year.

What is the stock symbol for Flanigan's Enterprises?

The stock symbol for Flanigan's Enterprises is BDL.

What were the total revenues for Flanigan's Enterprises for the 26 weeks ended April 2, 2022?

The total revenues for the 26 weeks ended April 2, 2022, were $77.73 million, an increase from $65.74 million in the prior year.

What was Flanigan's Enterprises net income per share for Q2 2022?

Flanigan's Enterprises reported a net income per share of $0.89 for the 13 weeks ended April 2, 2022.