#United States #Fort Lauderdale #Flanigan's #Seafood Bar #Big Daddy's

Flanigan's Enterprises Reports Earnings for 2024

Flanigan's Enterprises, Inc., listed on the NYSE American under the ticker BDL, has released their earnings report for the fiscal year ending on September 28, 2024. The company, which operates the popular Flanigan's Seafood Bar and Grill and Big Daddy's retail liquor stores, has demonstrated impressive financial results despite the challenges faced during the past year.

Revenue Highlights

For the 52-week period, Flanigan's total revenue reached approximately $188.3 million, marking a significant increase from $174.4 million for the prior fiscal year. This growth has been driven by several key factors across its operations:

• - Restaurant Sales: Food and bar sales from their restaurants surged to about $144.8 million, up from the previous year's $136.2 million. This increase reflects both a rise in customer footfall and successful menu innovations that have resonated with patrons.
• - Package Store Performance: Sales from Big Daddy's package stores also saw an uptick, rising to $40.5 million compared to $35.2 million in 2023. The enhanced selection of products and aggressive marketing strategies have played a crucial role in attracting more customers.
• - Franchise Revenues: However, franchise-related revenues dipped slightly to $1.7 million, down from $1.9 million the previous year. This decline may indicate challenges faced by franchisees, warranting closer evaluation and support from the corporate level.
• - Rental Income and Other Sources: Rental income grew modestly, reaching $1.1 million, up from $951,000. Other revenue sources also increased, contributing positively to the overall earnings.

Net Income Overview

Despite the revenue growth, the net income attributable to Flanigan's Enterprises took a slight hit, falling to approximately $3.4 million from $4.0 million in 2023. This resulted in a net income per share of $1.81 for the year, compared to $2.15 from the previous fiscal year. The decrease in net income highlights the need for ongoing cost management strategies as the company expands its footprint in the competitive food and retail industry.

Future Outlook

Looking ahead, Flanigan's Enterprises is focused on enhancing their restaurant dining experiences while exploring new locations for expansion. The management team is optimistic about the brand's potential to attract new customers and retain existing ones through improved service and unique offerings.

Conclusion

Flanigan's Enterprises has delivered commendable results in a year marked by economic shifts and changing consumer habits. As the company maneuvers through this dynamic landscape, stakeholders remain optimistic about the growth trajectory and strategies that promise to fortify the brand's position in the market. Investors and residents alike are keen to see how the company capitalizes on its strengths to further enhance profitability and customer loyalty in 2025 and beyond.