Zacks Initiates Coverage of Flanigan's With Neutral Recommendation [Yahoo! Finance]
Flanigan's Enterprises, Inc. (BDL)
NASDAQ:AMEX Investor Relations:
flanigans.net/financial.php
Company Research
Source: Yahoo! Finance
This assessment comes amid a mixed outlook for the company, which has been making notable strides in the hospitality space despite industry challenges. Flanigan's, headquartered in Fort Lauderdale, FL, embodies a multifaceted hospitality model, engaging in restaurant, sports bar, and package liquor store operations across South Florida. BDL operates a unique mix of restaurants, sports bars, and package liquor stores, primarily under the "Flanigan's Seafood Bar and Grill" and "Big Daddy's Liquors" brands. Flanigan's reported a 9.7% increase in revenues for the first quarter of 2024. The top line increased to $48.1 million in the first quarter from $43.8 million in the year-ago quarter. This growth was driven by a 7.9% rise in restaurant food and bar sales and a 17.1% increase in package store sales. Over the 26-week period ended Mar 30, 2024, revenues rose 8.8% to $93.2 million. Flanigan's generated $2.1 million in positive cash flow from operations for the 26 weeks that ended Ma
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