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HUNTINGTON BEACH - BJ’s Restaurants, Inc. (NASDAQ:BJRI) reported second quarter earnings that exceeded analyst expectations, as the casual dining chain posted solid profit growth despite a cautious outlook that weighed slightly on its stock.
The restaurant operator reported adjusted earnings of $0.97 per share for its fiscal second quarter, significantly beating the analyst estimate of $0.70. Revenue increased 4.5% to $365.6 million, slightly above the consensus estimate of $363.3 million. Comparable restaurant sales rose 2.9% YoY, driving the company’s traffic-led top-line growth.
BJ’s shares slipped 0.7% following the results as investors reacted to management’s cautious outlook despite the earnings beat. The company maintained its full-year comparable sales growth forecast of approximately 2%, but said this will be subject to uncertainty, including related to the U.S. consumer environment and impacts from trade policies.
"We are pleased with the continued growth and improvement of our sales and profitability and the progress we are making against our short- and long-term strategic initiatives," said Lyle Tick, Chief Executive Officer and President. "The compelling value of the Pizookie Meal Deal, strong operational fundamentals and our focus on putting the guest and team member experience at the center of everything we do have led to our traffic-driven top-line growth."
Restaurant level operating profit increased 14.6% to $62.1 million, with operating margin expanding 150 basis points to 17.0%. Adjusted EBITDA grew 16.6% to $42.1 million compared to the same period last year.
During the quarter, BJ’s repurchased approximately 438,000 shares of its common stock at a cost of approximately $15.1 million. The company has about $56.7 million remaining under its authorized share repurchase program.
For fiscal 2025, BJ’s maintained its outlook for comparable restaurant sales growth of approximately 2%, while projecting restaurant level operating profit of $211-219 million and adjusted EBITDA of $132-140 million.
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