BJ’s(BJRI) - 2025 Q4 - Annual Results

Financial Performance - Total revenue for Q4 2024 increased by 6.4% to $344.3 million, compared to $323.6 million in Q4 2023[7] - Comparable restaurant sales rose by 5.5% in Q4 2024, driven by increased guest traffic across all dayparts and channels[5] - Adjusted EBITDA for Q4 2024 reached $33.1 million, a 21.1% increase from $27.3 million in Q4 2023[7] - Restaurant level operating profit margin improved by 100 basis points to 15.4% in Q4 2024, with operating profit increasing by 13.8% to $52.9 million[7] - For the fiscal year 2024, total revenues increased by 1.8% to $1.4 billion, with Adjusted EBITDA rising by 12.8% to $117.1 million[7] - Adjusted diluted net income per share for the fourth quarter was $0.47, compared to $0.45 in the previous year, reflecting a growth of 4.4%[32] - Adjusted EBITDA for the fourth quarter was $33,115 million, representing 9.6% of total revenues, up from 8.4% in the previous year[37] - Restaurant level operating profit increased to $52,886 million, which is 15.4% of total revenues, compared to 14.4% in the previous year[38] Shareholder Actions - The company repurchased approximately 234,000 shares for about $8.0 million in Q4 2024, and increased its share repurchase authorization by $50 million in February 2025[9] Future Projections - Management anticipates comparable restaurant sales growth of 2% to 3% and Adjusted EBITDA of $127 million to $137 million for fiscal 2025[14] - The restaurant level operating profit for fiscal 2025 is projected to be between $205 million and $215 million[14] - The company aims to invest $65 million to $75 million in capital expenditures for fiscal 2025[14] Asset and Equity Changes - Cash and cash equivalents decreased from $29,070 million to $26,096 million, a decline of approximately 10%[21] - Total assets decreased from $1,058,454 million to $1,041,064 million, a decline of about 1.6%[21] - Total debt decreased from $68,000 million to $66,500 million, a reduction of approximately 2.2%[21] - Shareholders' equity increased from $365,761 million to $370,017 million, an increase of about 1.4%[21] Operational Changes - The company permanently closed one restaurant during the period, bringing the total number of restaurants to 218[25] - Leadership transition expenses amounted to $1,543 million in the fourth quarter, contributing 0.4% to total expenses[39]