Financial Data and Key Metrics Changes - The company reported total sales of $349.9 million for Q2 2024, with comparable sales slightly negative at 0.6% [19][53] - Adjusted EBITDA increased to $36.1 million, a 13% rise year-over-year, with a margin of 10.3% [20][54] - Restaurant-level cash flow margin improved to 15.5%, up 100 basis points from the previous year [29][44] - Net income for the quarter was $17.2 million, with diluted net income per share of $0.72, both up over 40% from a year ago [54] Business Line Data and Key Metrics Changes - The company initiated an enhanced service model in April, aimed at improving pace and throughput in restaurants [21][24] - Food costs increased by more than 2% quarter-over-quarter, driven by inflation on key items such as chicken wings and avocados [32][135] - Labor and benefits expenses were 36.1% of sales, which was 10 basis points favorable compared to the same quarter last year [32] Market Data and Key Metrics Changes - The company experienced month-over-month improvement in comparable sales throughout Q2, driven by consumer affinity for the BJ's concept [19] - The average weekly sales per restaurant exceeded $124,000, with a record of over $141,000 during the week including Mother's Day [30][53] - The company expects Q3 comparable sales to be in the 1% to 2% range, considering recent trends and seasonal patterns [84] Company Strategy and Development Direction - The long-term model aims for 8% to 10% top-line sales growth through a combination of over 5% unit growth and low to mid-single-digit comparable restaurant sales [27] - The company is focused on enhancing brand awareness and operational excellence through various initiatives, including remodels and new restaurant prototypes [18][25] - The company plans to continue investing in marketing to drive traffic and brand awareness, with an expected increase in marketing costs for Q3 [58][172] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer demand remains stable, with adjustments needed due to external factors like minimum wage increases [2][19] - The company is optimistic about closing the gap to 2019 margin levels by year-end, despite challenges in the operating environment [34][167] - Management highlighted the importance of maintaining quality while pursuing growth, indicating a cautious approach to unit expansion [71][100] Other Important Information - The company completed 19 remodels year-to-date and plans to complete approximately five more by the end of the year [49] - The new restaurant prototype is expected to cost about $1 million less to build, enhancing operating efficiencies [26] - The company repurchased approximately 255,000 shares at a cost of $8.8 million during the quarter [57] Q&A Session Summary Question: Can you elaborate on the restaurant-level margin levels compared to 2019? - Management indicated that they aim to close the gap to 2019 levels, with a focus on improving operational efficiencies [4][167] Question: What are the dynamics affecting labor costs and training investments? - Management acknowledged that the new service model introduced one-time training costs, impacting margins slightly [32][62] Question: How do you view the sales outlook for Q3, considering the calendar shifts? - Management expects Q3 comparable sales to be modestly positive, with some challenges due to the holiday calendar [64][84] Question: What is the company's strategy for unit growth moving forward? - Management emphasized a cautious approach to unit growth, aiming for quality over quantity, with a goal of gradually increasing to 5% growth [71][100] Question: How is the company addressing food cost inflation? - Management noted that food costs have increased, particularly for chicken wings and avocados, and they are monitoring these trends closely [32][135]

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. View all Key Company Metrics for BJ's Restaurants here>>> The reported revenue compares to the Zacks Consensus Estimate of $350.18 million, representing a surprise of -0.07%. The company delivered an EPS surprise of +46.94%, with the consensus EPS estimate being $0.49. Comparable restau ...

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 ...

BJ's Restaurants, Inc. Reports Fiscal Second Quarter 2024 Results 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. "Our second quarter results demonstrate continued success with the growth and productivity initiatives that we outlined during last year's Investor Day," commented Greg Levin, Chief Executive Officer and President. "After a softer sales start in April ...

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 ...

About BJ's Restaurants, Inc. For further information, please contact Tom Houdek of BJ's Restaurants, Inc. at (714) 500-2400 or JCIR at (212) 835-8500 or at bjri@jcir.com. HUNTINGTON BEACH, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- BJ's Restaurants, Inc. (NASDAQ:BJRI) today announced that it will release its second quarter 2024 results after the market closes on Thursday, July 25, 2024. The Company will host an investor conference call at 2:00 p.m. (Pacific) that same day. The conference call will be broadca ...

About BJ's Restaurants, Inc. 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 the most decorated restaurant-brew ...

Investors interested in stocks from the Retail - Restaurants sector have probably already heard of BJ's Restaurants (BJRI) and Chipotle Mexican Grill (CMG) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisio ...

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 ...