Flanigan's Enterprises (BDL) Q2 2026 earnings summary

Executive summary

• Q2 revenue rose 5.9% YoY to $56.5M; net income increased 14.7% to $3.8M, while diluted EPS was $1.55 versus $1.45.

• H1 revenue grew 5.5% to $109.1M; net income rose 34.2% to $5.3M and diluted EPS was $1.98 versus $1.48.

• Growth reflected menu price increases and higher restaurant and package-store traffic; higher merchandise, labor and operating costs partly offset gains.

Financial highlights

• Q2 operating income increased to $4.169M from $3.516M; costs and expenses rose 5.0% to $52.346M, slower than revenue growth.

• Q2 net income attributable to stockholders was $2.875M versus $2.690M; H1 attributable income was $3.680M versus $2.745M.

• H1 operating income increased to $5.838M from $4.268M; costs and expenses grew 4.2% to $103.245M.

• Cash and cash equivalents were $22.831M at March 28, 2026, up $2.737M from fiscal year-end; working capital was $15.669M.

Outlook and guidance

• FY2026 restaurant food sales are expected to benefit from recent price increases; bar sales are expected to rise from pricing, partly offset by softer alcohol consumption.

• Package-store sales are expected to increase with traffic, including e-commerce; package merchandise gross margin is expected to decline due to higher costs and competitive pricing.

• Costs and expenses are expected to continue increasing through FY2026; current cash, operating cash flow and planned mortgages are expected to fund operations and planned capital expenditures for at least 12 months.

• FY2026 refurbishment spending is estimated at $750K, with actual capital spending potentially significantly higher.