BJ's Restaurants Q4 Earnings Surpass Estimates, Stock Rises

Core Insights - BJ's Restaurants, Inc. (BJRI) reported strong fourth-quarter fiscal 2024 results, with earnings and revenues exceeding the Zacks Consensus Estimate, showing year-over-year growth [1][4] Financial Performance - Adjusted earnings per share (EPS) for the quarter were 47 cents, surpassing the consensus estimate of 35 cents, and up from 45 cents in the same quarter last year [4] - Total revenues reached $344.3 million, exceeding the consensus mark of$337 million by 2.1%, and increased by 6.4% year over year [4] - Comparable restaurant sales rose by 5.5% year over year, compared to a 0.6% increase in the prior-year quarter [5] Operational Efficiency - Restaurant-level operating profit margin improved by 100 basis points year over year to 15.4%, compared to 14.4% in the previous year [7] - Labor costs as a percentage of sales decreased to 35.8% from 36.5% year over year, while occupancy and operating costs also improved to 22.9% from 23.6% [6] Balance Sheet - As of December 31, 2024, cash and cash equivalents totaled $26.1 million, down from$29.1 million at the end of fiscal 2023, while total debt decreased to $66.5 million from$68 million [8] Fiscal 2024 Highlights - Total revenues for fiscal 2024 were $1.36 billion, up from$1.33 billion in fiscal 2023, while net income decreased to $16.7 million from$19.7 million [9] - Adjusted EPS for fiscal 2024 was $1.47, compared to$1.08 in the previous year [9] 2025 Outlook - For fiscal 2025, the company expects comparable restaurant sales to increase by 2% to 3% year over year, with restaurant-level operating profit projected between $205 million and$215 million [11] - Adjusted EBITDA is forecasted to be between $127 million and$137 million, with capital expenditures expected to range from $65 million to$75 million [11]