BJ’s Wholesale Club (BJ) - 2026 Q1 - Quarterly Results

Financial Performance - Net sales for the first quarter of fiscal 2025 increased by 4.7% to $5,033.1 million compared to $4,807.1 million in the same period last year[3] - Total revenues increased by 4.8% to $5,153.5 million from $4,918.5 million in the prior year[3] - Operating income grew by 26.7% to $203.6 million, while net income increased by 34.9% to $149.8 million[3] - Adjusted EBITDA for the quarter was $285.8 million, reflecting a 20.9% increase from $236.4 million in the previous year[9] - Net income for the thirteen weeks ended May 3, 2025, was $149,768,000, an increase of 35% compared to $111,019,000 for the same period in 2024[19] - Adjusted net income for the same period was $150,875,000, up from $113,408,000, resulting in an adjusted EPS of $1.14 compared to $0.85 in the prior year[33] - Adjusted EBITDA for the thirteen weeks ended May 3, 2025, was $285,836,000, a 20.9% increase from $236,386,000 in the same period last year[35] Membership and Sales Growth - Membership fee income rose by 8.1% year-over-year to $120.4 million, driven by strong membership acquisition and retention[5] - Comparable club sales increased by 1.6% year-over-year, with a 3.9% increase when excluding gasoline sales[5] - Fiscal 2025 guidance remains unchanged, with expected comparable club sales growth of 2.0% to 3.5% year-over-year and adjusted EPS projected to range from $4.10 to $4.30[10] Capital and Investment - The company opened five new clubs and four new gas stations during the quarter[5] - The company invested $140,497,000 in property and equipment during the period, compared to $105,741,000 in the prior year[19] Cash Flow and Debt - Net cash provided by operating activities was $208,093,000, slightly up from $200,847,000 in the previous year[39] - Adjusted free cash flow decreased to $67,596,000 from $95,106,000 year-over-year[39] - Total debt as of May 3, 2025, was $548,880,000, resulting in net debt of $509,396,000 after accounting for cash and cash equivalents[40] - The net debt to LTM adjusted EBITDA ratio was 0.4x, indicating a strong leverage position[40] - Cash and cash equivalents at the end of the period were $39,484,000, compared to $35,094,000 at the end of the same period last year[19] Asset Management - Total assets increased to $7,157.7 million as of May 3, 2025, compared to $6,824.7 million a year earlier[17] - The company experienced a significant increase in accounts receivable, net, which rose to $39,735,000 from $3,491,000 year-over-year[19] Shareholder Returns - The company repurchased 55,000 shares of common stock for a total of $6.2 million under its existing share repurchase program[9]