BJ's Restaurants (BJRI) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates three times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary ...

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) BJ's Restaurants reported a slight revenue increase to $349.9 million, with net income up 44.5% to $17.2 million and diluted EPS at $0.72, driven by improved operating margins Q2 2024 Key Financial Metrics vs. Q2 2023 | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $349.9 million | $349.7 million | +0.1% | | Comparable Restaurant Sales | -0.6% | +4.7% | -5.3 p.p. | | Net Income | $17.2 million | $11.9 million | +44.5% | | Diluted Net Income per Share | $0.72 | $0.50 | +$0.22 | | Adjusted EBITDA | $36.1 million | $31.8 million | +13.5% | - After a soft start in April, comparable restaurant sales trends improved throughout the second quarter, with approximately half of the restaurants setting sales records around Mother's Day, Father's Day, and graduations[2](index=2&type=chunk) - Productivity initiatives led to a **100 basis point** year-over-year increase in restaurant-level operating margins, which reached **15.5%**[2](index=2&type=chunk) [Business Update & Outlook](index=1&type=section&id=Business%20Update%20%26%20Outlook) The company is expanding with new, cost-effective restaurant prototypes and remodels, targeting $70-$75 million in 2024 capital expenditures, prioritizing growth and shareholder returns - The company opened one new restaurant in H1 2024 and plans to open two more in H2 2024. Future restaurants will use a new prototype that costs approximately **$1 million less** to build[3](index=3&type=chunk) - By the end of 2024, about **50% of BJ's restaurants** will either be a newer prototype or have been recently remodeled, enhancing the brand's appeal[3](index=3&type=chunk) - Capital allocation priorities are focused on growth initiatives and returning capital to shareholders. In Q2 2024, the company repurchased **255,000 shares for $8.8 million**, with **$52 million** remaining under its repurchase program[17](index=17&type=chunk)[18](index=18&type=chunk) [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) This section presents detailed unaudited financial results for Q2 and H1 2024, including statements of operations, balance sheet data, and key operating metrics [Unaudited Consolidated Statements of Operations](index=2&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Operations) Q2 2024 total revenues were $349.9 million, with improved cost management leading to increased income from operations of $13.2 million and net income of $17.2 million, or $0.72 diluted EPS Q2 Statement of Operations Highlights (in thousands) | Account | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Total Revenues | $349,927 | $349,670 | | Cost of Sales | $89,836 | $90,614 | | Labor and Benefits | $126,309 | $126,522 | | Income from Operations | $13,221 | $10,212 | | Net Income | $17,157 | $11,932 | | Diluted EPS | $0.72 | $0.50 | Six Months Statement of Operations Highlights (in thousands) | Account | Six Months 2024 | Six Months 2023 | | :--- | :--- | :--- | | Total Revenues | $687,261 | $690,950 | | Income from Operations | $21,479 | $12,828 | | Net Income | $24,880 | $15,413 | | Diluted EPS | $1.04 | $0.64 | [Selected Consolidated Balance Sheet Information](index=3&type=section&id=Selected%20Consolidated%20Balance%20Sheet%20Information) As of July 2, 2024, the company reported total assets of $1.044 billion, total debt of $63.5 million, and shareholders' equity of $386.5 million, an increase from fiscal 2023 Balance Sheet Data (in thousands) | Account | July 2, 2024 | 2023 Year-End | | :--- | :--- | :--- | | Total Assets | $1,044,136 | $1,058,454 | | Total Debt | $63,500 | $68,000 | | Shareholders' Equity | $386,489 | $365,761 | [Operating Data](index=4&type=section&id=Operating%20Data) Q2 2024 comparable restaurant sales declined by 0.6%, a shift from prior year growth, with a 1.1% decline for the first six months, and one new restaurant opened, totaling 216 locations Key Operating Metrics | Metric | Q2 2024 | Q2 2023 | Six Months 2024 | Six Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Comparable restaurant sales % change | (0.6)% | 4.7% | (1.1)% | 6.8% | | Restaurants opened during period | - | 1 | 1 | 2 | | Restaurants open at period-end | 216 | 216 | 216 | 216 | [Non-GAAP Financial Measures & Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section presents non-GAAP financial measures, including Restaurant Level Operating Margin and Adjusted EBITDA, with detailed reconciliations to GAAP measures, offering insights into core business trends - The company uses non-GAAP measures like Restaurant Level Operating Margin and Adjusted EBITDA as supplemental tools to evaluate performance, highlighting trends that may not be apparent from GAAP measures alone[10](index=10&type=chunk)[11](index=11&type=chunk)[26](index=26&type=chunk) [Restaurant Level Operating Margin](index=4&type=section&id=Restaurant%20Level%20Operating%20Margin) Q2 2024 non-GAAP Restaurant Level Operating Margin improved by 100 basis points to **15.5%**, reaching **$54.2 million**, demonstrating enhanced restaurant-level efficiency Reconciliation to Restaurant Level Operating Margin (in thousands) | Metric | Q2 2024 | Q2 2023 | Six Months 2024 | Six Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Income from operations | $13,221 | $10,212 | $21,479 | $12,828 | | **Restaurant level operating margin** | **$54,216** | **$50,622** | **$104,718** | **$93,546** | | *as a % of revenues* | *15.5%* | *14.5%* | *15.2%* | *13.5%* | [Adjusted EBITDA](index=5&type=section&id=Adjusted%20EBITDA) Q2 2024 Adjusted EBITDA increased **13.4%** to **$36.1 million** (10.3% of revenues), reflecting higher net income and non-cash expense adjustments Reconciliation to Adjusted EBITDA (in thousands) | Metric | Q2 2024 | Q2 2023 | Six Months 2024 | Six Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net income | $17,157 | $11,932 | $24,880 | $15,413 | | **Adjusted EBITDA** | **$36,078** | **$31,828** | **$65,470** | **$56,844** | | *as a % of revenues* | *10.3%* | *9.1%* | *9.5%* | *8.2%* | [Other Information](index=1&type=section&id=Other%20Information) This section provides supplementary company details, investor relations activities, and legal disclaimers, including a corporate profile, earnings call information, and forward-looking statements - BJ's Restaurants, Inc. is a national brand founded in 1978 that owns and operates over **200 casual dining restaurants** across **31 states**[5](index=5&type=chunk)[20](index=20&type=chunk) - The company conducted a conference call and live audio webcast on **July 25, 2024**, to discuss the financial results[28](index=28&type=chunk) - The report includes forward-looking statements concerning expected sales, margins, and growth initiatives, which are subject to various business and economic risks[6](index=6&type=chunk)

HUNTINGTON BEACH, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- BJ's Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its fiscal 2024 second quarter ended Tuesday, July 2, 2024. Fiscal Second Quarter 2024 Compared to Fiscal Second Quarter 2023 Total revenues increased 0.1% to $349.9 million Comparable restaurant sales declined 0.6% Total restaurant operating weeks increased 0.4% Net income of $17.2 million, compared to $11.9 million; diluted net income per share of $0.72, compared to $0.50 ...

Restaurant companies' second-quarter 2024 results are likely to be bolstered by increased menu prices, higher average check sizes and expansion initiatives. Many restaurant companies benefited from partnerships with delivery services and digital platforms. The industry players are likely to have benefited from the rise in off-premise sales, including delivery, takeout, drive-thru, catering, meal kits, and off-site options like kiosks and food trucks in the second quarter. Many operators also tested ghost or ...

Company Overview - BJ's Restaurants, Inc. is a national brand with a focus on craft brewing and a diverse menu that includes slow-roasted entrees, signature deep-dish pizza, and the famous Pizookie® dessert [4] - The company has been recognized for its beverage program, winning the 2024 Vibe Vista Award for Best Overall Beverage Program for Multi-Unit Chain Restaurants [4] - Founded in 1978, BJ's operates over 200 casual dining restaurants across 31 states, offering dine-in, take-out, delivery, and catering services [4] Upcoming Financial Results - BJ's Restaurants, Inc. will release its second quarter 2024 results after the market closes on July 25, 2024 [3] - An investor conference call is scheduled for the same day at 2:00 p.m. (Pacific), which will be broadcast live over the Internet [3] - The presentation will be available for 30 days following the call [3]

Company Overview - BJ's Restaurants, Inc. is a national brand known for its craft brewing roots and diverse menu offerings, including slow-roasted entrees, signature deep-dish pizza, and the famous Pizookie® dessert [1] - The company has been recognized for its beverage program, winning the 2024 Vibe Vista Award for Best Overall Beverage Program for Multi-Unit Chain Restaurants [1] - Founded in 1978, BJ's operates over 200 casual dining restaurants across 31 states, providing dine-in, take-out, delivery, and catering services [1] Upcoming Financial Results - BJ's Restaurants, Inc. will release its second quarter 2024 results after market close on July 25, 2024 [2] - An investor conference call is scheduled for the same day at 2:00 p.m. Pacific Time, which will be broadcast live on the company's website [2] - A recording of the conference call will be available for 30 days following the event [2]

Core Viewpoint - BJ's Restaurants (BJRI) is currently positioned as a more attractive investment compared to Chipotle Mexican Grill (CMG) for value investors, based on various financial metrics and earnings outlook [1][3][7]. Valuation Metrics - BJRI has a forward P/E ratio of 26.88, significantly lower than CMG's forward P/E of 51.13, indicating that BJRI may be undervalued relative to CMG [5]. - The PEG ratio for BJRI is 1.92, while CMG's PEG ratio stands at 2.25, suggesting that BJRI offers better value when considering expected earnings growth [5]. - BJRI's P/B ratio is 2.28, compared to CMG's P/B of 23.13, further highlighting BJRI's relative undervaluation [6]. Earnings Outlook - BJRI holds a Zacks Rank of 1 (Strong Buy), indicating a positive earnings outlook with recent revisions to earnings estimates, while CMG has a Zacks Rank of 3 (Hold) [3][7]. - The solid earnings outlook for BJRI, combined with its favorable valuation metrics, positions it as the superior value option in the current market [7].

Shares of BJ's Restaurants, Inc. (BJRI) have gained 20.2% in the past six months against the industry's 5.5% fall. The company's strategic initiatives that focus on culinary excellence, hospitality, operational efficiency and contemporary remodels have established a strong foundation for future growth. An upward revision in earnings estimates for 2024 reflects analysts' optimism regarding the company's growth potential. In the past 60 days, the Zacks Consensus Estimate for 2024 earnings per share (EPS) has ...

Post this Lagunitas Brewing CompanyLagunitas Brewing Company BJ's Restaurants, Inc. is a national brand with brewhouse roots where Craft Matters®. BJ's broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ's EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep-dish pizza and the often-imitated, but never-replicated world-famous Pizookie® dessert. The winner of the 2024 Vibe Vista Award for Best Overall Beverage Program for Multi-Unit Chain Restaurants and th ...

Core Insights - BJ's Restaurants has consistently beaten earnings estimates, with an average surprise of 69.63% over the last two quarters [1] - For the last reported quarter, BJ's Restaurants achieved earnings of $0.32 per share, surpassing the Zacks Consensus Estimate of $0.15 per share by 113.33% [2] - The previous quarter also saw a positive surprise, with actual earnings of $0.34 per share against an expected $0.27 per share, resulting in a 25.93% surprise [2] Earnings Estimates and Predictions - Estimates for BJ's Restaurants have been trending higher, supported by its earnings surprise history [3] - The stock has a positive Zacks Earnings ESP of +9.25%, indicating bullish sentiment among analysts regarding the company's earnings prospects [6] - A combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat [6] Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [4] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [5]