Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
Investing.com -- BJ’s Wholesale Club (NYSE:BJ) reported first-quarter earnings that topped expectations, while revenue fell short of the consensus. The warehouse club chain reiterated its full-year profit guidance, which also missed market expectations at the midpoint.
The company’s shares slid nearly 2% in premarket trading Thursday after the release.
BJ’s posted Q1 earnings per share (EPS) of $1.14, topping the $0.91 estimate from analysts. Revenue climbed 4.8% year-over-year to $5.03 billion, slightly below the consensus forecast of $5.19 billion.
Membership fee income rose 8.1% year-over-year to $120.4 million, in line with expectations.
Comparable club sales, excluding gasoline, increased 3.9%.
“We reported a strong start to the year, demonstrating the power of our model and continued momentum in our long-term growth priorities,” said Bob Eddy, Chairman and CEO of BJ’s Wholesale Club. “Delivering great value is essential in today’s environment, and I am proud of our team members who remain committed to taking care of the families who depend on us.”
For the full year, the company reaffirmed its EPS outlook of $4.10 to $4.30, compared with the Street estimate of $4.24.
It also maintained guidance for comparable club sales growth, excluding gasoline, in the range of 2% to 3.5%, in line with consensus expectations of 3.03%.