BJ’s Restaurants, Inc. (NASDAQ:BJRI) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
BJ’s Restaurants, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 0% to $0.32 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 9.85% to $198.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: BJ’s Restaurants, Inc. reported adjusted EPS income of $0.32 per share. By that measure, the company missed the mean analyst estimate of $0.32. It missed the average revenue estimate of $202.12 million.
Quoting Management: “Our teams recognized the challenging top-line environment and did an excellent job of executing the business and taking care of our guests,” commented Greg Trojan, President and Chief Executive Officer. “Our four-wall restaurant productivity, efficiency, expense management and guest service metrics were solidly delivered, despite the headwinds generated by the choppy sales environment. While we are pleased with our four-wall execution, driving sales remains our highest priority. We intend to pursue a more aggressive use of certain marketing levers to generate new traffic momentum, including additional television advertising in selected markets where we are more media efficient and loyalty program initiatives that have shown favorable top-line results in tests earlier this year. While we plan on being more aggressive in driving awareness of the BJ’s brand, we will do so only in ways that protect its overall quality, differentiation and value for our guests as we continue executing our national expansion.”
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