Flanigan's Enterprises Reports 11.57% Revenue Growth to $53.6 Million in Latest Quarter

Flanigan's Enterprises, Inc. reported a notable increase in financial performance for the thirteen weeks ended March 29, 2025, with total revenues reaching $53.6 million, an increase of 11.57% from $48.1 million in the same period last year. The growth was primarily driven by higher sales in both restaurant and package liquor store segments, attributed to recent price increases and the opening of a new corporate-owned restaurant in Hollywood, Florida. Net income for the quarter rose to $3.3 million, a 32.57% increase from $2.5 million in the prior year, with net income attributable to Flanigan's stockholders also increasing to $2.7 million from $1.9 million.

In the twenty-six weeks ended March 29, 2025, total revenue increased by 11.46% to $103.9 million compared to $93.2 million in the same period last year. Restaurant food sales contributed $61.7 million, up from $55.7 million, while package store sales rose to $24.5 million from $20.7 million. The company noted that comparable weekly restaurant food sales increased by 5.24%, reflecting the impact of recent price adjustments and improved customer traffic.

Operationally, Flanigan's maintained 32 units, including restaurants and package liquor stores, with no significant changes in the number of locations since the previous fiscal period. The company continues to manage ten restaurants through limited partnerships and operates five franchised units. The average weekly sales for package liquor stores also saw a significant increase of 18.05%, indicating a positive trend in customer engagement and market share.

The filing highlighted that costs and expenses for the quarter increased by 10.16% to $50 million, primarily due to higher payroll and food costs, as well as expenses related to the new restaurant. Despite these increases, the company managed to reduce costs as a percentage of total revenue, indicating improved operational efficiency. Looking ahead, Flanigan's expects continued revenue growth driven by ongoing price adjustments and increased customer traffic, although it anticipates rising costs due to inflationary pressures affecting food and labor.

Flanigan's Enterprises, Inc. reported cash and cash equivalents of approximately $23 million as of March 29, 2025, reflecting a positive cash flow from operations. The company remains committed to funding its operations and planned capital expenditures through its current cash availability and operational cash flow. The outlook for the remainder of fiscal year 2025 appears optimistic, with expectations for sustained revenue growth and effective cost management strategies in place.