Flanigan's Reports Earnings

Rhea-AI Summary

FLANIGAN'S ENTERPRISES, INC. (NYSE AMERICAN: BDL) reported strong financial results for the 13 weeks and 39 weeks ending July 3, 2021. Total revenues reached $37,935,000 for the 13-week period, a notable increase from $23,663,000 in the same period of 2020, driven by restaurant food and bar sales of $29,101,000. For the 39-week period, total revenues were $103,672,000, compared to $84,732,000 last year. The company posted a net income of $7,199,000 for the latest quarter, versus a loss of $455,000 in the prior year, resulting in earnings per share of $3.87.

Positive

• Total revenues rose by 60% YoY for the 13-week period.
• Net income of $7,199,000 contrasts sharply against a loss of $455,000 last year.
• Earnings per share increased to $3.87 from a loss of $0.24.

Negative

• Revenue growth may not be sustainable; future outlook remains uncertain.

FORT LAUDERDALE, Fla., Aug. 18, 2021 /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 39 weeks ended July 3, 2021. The table below sets forth the results on a comparative basis with the 13 weeks and 39 weeks ended June 27, 2020.

					13 Weeks Ended			13 Weeks Ended
REVENUES					July 3, 2021			June 27, 2020
RESTAURANT FOOD AND BAR SALES					$	29,101,000		$	16,144,000
PACKAGE STORE SALES						8,082,000			7,099,000
FRANCHISE RELATED REVENUES						444,000			278,000
RENTAL INCOME						250,000			151,000
OTHER OPERATING INCOME (LOSS)						58,000			(9,000)
TOTAL REVENUES					$	37,935,000		$	23,663,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	7,199,000		$	(455,000)
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	3.87		$	(0.24)
					39 Weeks Ended			39 Weeks Ended
					July 3, 2021			June 27, 2020
RESTAURANT FOOD AND BAR SALES					$	77,611,000		$	64,305,000
PACKAGE STORE SALES						23,923,000			18,833,000
FRANCHISE RELATED REVENUES						1,252,000			945,000
RENTAL INCOME						663,000			554,000
OTHER OPERATING INCOME						223,000			95,000
TOTAL REVENUES					$	103,672,000		$	84,732,000
NET INCOME ATTRIBUTABLE TO
FLANIGAN'S ENTERPRISES, INC.					$	10,430,000		$	687,000
NET INCOME PER COMMON SHARE
	BASIC AND DILUTED				$	5.61		$	0.37

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-301358472.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What were Flanigan's Enterprises earnings for Q2 2021?

Flanigan's Enterprises reported earnings of $7,199,000 for the 13 weeks ended July 3, 2021.

How much did Flanigan's Enterprises earn per share in Q2 2021?

Earnings per share for Flanigan's Enterprises were $3.87 for the second quarter of 2021.

What is the total revenue reported by Flanigan's Enterprises for Q2 2021?

Total revenue for Flanigan's Enterprises in the second quarter of 2021 was $37,935,000.

How does Flanigan's total revenue for Q2 2021 compare to Q2 2020?

Flanigan's total revenue increased by 60% from $23,663,000 in Q2 2020 to $37,935,000 in Q2 2021.