Flanigan's Enterprises (BDL) Q3 2025 earnings summary

Executive summary

• Q3 revenue rose 6.24% YoY to $52.164M; net income increased 38.12% to $2.489M, supported by price increases, higher package-store traffic and lower restaurant food costs.

• Nine-month revenue increased 9.66% to $156.058M and net income rose 31.44% to $6.467M; cost growth was slower than revenue growth.

• Operations included 32 owned, managed or controlled units and five franchised units at June 28, 2025.

Financial highlights

• Q3 total revenue was $52.164M vs. $49.102M YoY; operating income was $2.974M vs. $2.287M, and net income was $2.489M vs. $1.802M.

• Q3 net income attributable to stockholders was $1.392M vs. $1.121M; basic and diluted EPS was $0.75 vs. $0.60.

• 9M revenue was $156.058M vs. $142.311M; operating income was $7.467M vs. $5.764M, and net income was $6.467M vs. $4.920M.

• 9M net income attributable to stockholders was $4.137M vs. $3.172M; basic and diluted EPS was $2.23 vs. $1.71.

• Q3 costs and expenses increased 5.07% to $49.190M; 9M costs rose 8.82% to $148.591M, both below revenue growth.

Outlook and guidance

• Management expects Q4 restaurant food and bar sales to benefit from recent menu price increases and package-store sales from continued higher store traffic.

• Costs and expenses are expected to continue increasing through FY2025; package-store gross margin is expected to decline due to higher costs and competitive price reductions.

• Refurbishment costs for FY2025 are anticipated at $550K, with capital spending potentially significantly higher; future Cutler Bay site development and construction will add capital needs.

• Available cash and operating cash flow are expected to fund operations and planned capital expenditures for at least 12 months; management also expects funding to cover operations, debt reductions and planned FY2025 capital spending.