FLANIGAN'S REPORTS EARNINGS

Rhea-AI Summary

FLANIGAN'S ENTERPRISES, INC. announces earnings results for the 13 weeks and 39 weeks ended July 1, 2023. Revenues increased by 11.5% and 10.6% respectively compared to the same periods last year. Net income decreased by 12.6% and 18.5% for the same periods.

Positive

• Revenues increased by 11.5% and 10.6% for the 13 weeks and 39 weeks ended July 1, 2023, compared to the same periods last year.

Negative

• Net income decreased by 12.6% and 18.5% for the 13 weeks and 39 weeks ended July 1, 2023, compared to the same periods last year.

FORT LAUDERDALE, Fla., Aug. 16, 2023 /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 July 1, 2023.  The table below sets forth the results on a comparative basis with the 13 weeks and the 39 weeks ended July 2, 2022.  

						13 Weeks Ended			13 Weeks Ended
	REVENUES					July 1, 2023			July 2, 2022
	RESTAURANT FOOD AND BAR SALES					$	35,813,000		$	32,329,000
	PACKAGE STORE SALES						8,791,000			7,626,000
	FRANCHISE RELATED REVENUES						466,000			460,000
	RENTAL INCOME						252,000			213,000
	OTHER OPERATING INCOME						50,000			47,000
	TOTAL REVENUES					$	45,372,000		$	40,675,000
	NET INCOME ATTRIBUTABLE TO
	FLANIGAN'S ENTERPRISES, INC.					$	1,605,000		$	1,835,000
	NET INCOME PER COMMON SHARE
		BASIC AND DILUTED				$	$0.86		$	$0.99
						39 Weeks Ended			39 Weeks Ended
						July 1, 2023			July 2,  2022
	RESTAURANT FOOD AND BAR SALES					$	101,962,000		$	91,985,000
	PACKAGE STORE SALES						26,853,000			24,285,000
	FRANCHISE RELATED REVENUES						1,409,000			1,384,000
	RENTAL INCOME						683,000			611,000
	OTHER OPERATING INCOME						129,000			143,000
	TOTAL REVENUES					$	131,036,000		$	118,408,000
	NET INCOME ATTRIBUTABLE TO
	FLANIGAN'S ENTERPRISES, INC.					$	4,126,000		$	5,059,000
	NET INCOME PER COMMON SHARE
		BASIC AND DILUTED				$	$2.22		$	$2.72

 

View original content:https://www.prnewswire.com/news-releases/flanigans-reports-earnings-301902675.html

SOURCE FLANIGAN'S ENTERPRISES, INC.

FAQ

What are the earnings results for FLANIGAN'S ENTERPRISES, INC.?

FLANIGAN'S ENTERPRISES, INC. announced earnings results for the 13 weeks and 39 weeks ended July 1, 2023.

How did the revenues perform for FLANIGAN'S ENTERPRISES, INC.?

Revenues increased by 11.5% and 10.6% for the 13 weeks and 39 weeks ended July 1, 2023, compared to the same periods last year.

What happened to the net income of FLANIGAN'S ENTERPRISES, INC.?

Net income decreased by 12.6% and 18.5% for the 13 weeks and 39 weeks ended July 1, 2023, compared to the same periods last year.