BJ’s Restaurants, Inc. Reports Fiscal Second Quarter 2024 Results
BJ's Restaurants, Inc. (NASDAQ: BJRI) reported its fiscal 2024 second quarter results, showing a slight 0.1% increase in total revenues to $349.9 million. Despite a 0.6% decline in comparable restaurant sales, net income rose to $17.2 million from $11.9 million year-over-year, with diluted net income per share increasing to $0.72 from $0.50. Adjusted EBITDA improved to $36.1 million, up from $31.8 million in the same quarter last year.
The company saw improved sales trends throughout the quarter, particularly around key celebrations like Mother's Day and Father's Day. Restaurant level operating margins increased by 100 basis points to 15.5%. BJ's remains on track with its expansion plans, having opened one new restaurant in the first half of 2024 and planning two more in the second half. The company also continues its remodel initiative and share repurchase program, having bought back approximately 255,000 shares at a cost of $8.8 million during Q2 2024.
BJ's Restaurants, Inc. (NASDAQ: BJRI) ha riportato i risultati del secondo trimestre dell'anno fiscale 2024, mostrando un leggero aumento dello 0,1% delle entrate totali a 349,9 milioni di dollari. Nonostante un calo dello 0,6% nelle vendite dei ristoranti comparabili, l'utile netto è salito a 17,2 milioni di dollari, rispetto agli 11,9 milioni dell'anno precedente, con un utile netto diluito per azione che è aumentato a 0,72 dollari rispetto a 0,50 dollari. EBITDA rettificato è migliorato a 36,1 milioni di dollari, rispetto ai 31,8 milioni dello stesso trimestre dell'anno scorso.
L'azienda ha registrato tendenze di vendita migliorate durante tutto il trimestre, in particolare intorno a celebrazioni chiave come la Festa della Mamma e la Festa del Papà. I margini operativi a livello di ristorante sono aumentati di 100 punti base, raggiungendo il 15,5%. BJ's rimane in linea con i suoi piani di espansione, avendo aperto un nuovo ristorante nella prima metà del 2024 e pianificando altri due nella seconda metà. L'azienda continua anche la sua iniziativa di ristrutturazione e il programma di riacquisto di azioni, avendo riacquistato circa 255.000 azioni a un costo di 8,8 milioni di dollari durante il secondo trimestre del 2024.
BJ's Restaurants, Inc. (NASDAQ: BJRI) reportó sus resultados del segundo trimestre del año fiscal 2024, mostrando un ligero aumento del 0.1% en los ingresos totales a $349.9 millones. A pesar de una disminución del 0.6% en las ventas de restaurantes comparables, el ingreso neto aumentó a $17.2 millones desde $11.9 millones en el año anterior, con un ingreso neto diluido por acción que aumentó a $0.72 desde $0.50. EBITDA ajustado mejoró a $36.1 millones, en comparación con $31.8 millones en el mismo trimestre del año pasado.
La compañía vio tendencias de ventas mejoradas a lo largo del trimestre, especialmente alrededor de celebraciones clave como el Día de la Madre y el Día del Padre. Los márgenes operativos a nivel de restaurante aumentaron en 100 puntos básicos hasta el 15.5%. BJ's sigue avanzando con sus planes de expansión, habiendo abierto un nuevo restaurante en la primera mitad de 2024 y planeando abrir dos más en la segunda mitad. La compañía también continúa su iniciativa de remodelación y el programa de recompra de acciones, habiendo recomprado aproximadamente 255,000 acciones a un costo de $8.8 millones durante el segundo trimestre de 2024.
BJ's Restaurants, Inc. (NASDAQ: BJRI)는 2024 회계연도 2분기 결과를 발표하며 총 수익이 3억 4천 9백 90만 달러로 0.1% 증가했다고 보고했습니다. 비교 가능한 레스토랑 매출이 0.6% 감소했음에도 불구하고 순이익은 작년 1,190만 달러에서 1,720만 달러로 증가했으며, 희석순이익은 주당 0.50달러에서 0.72달러로 증가했습니다. 조정 EBITDA는 작년 같은 분기의 3,180만 달러에서 3,610만 달러로 개선되었습니다.
회사는 엄마의 날 및 아빠의 날과 같은 주요 기념일 동안 판매 추세가 개선되었다고 보고했습니다. 레스토랑 수준의 운영 마진은 100포인트 증가하여 15.5%에 도달했습니다. BJ's는 2024년 상반기에 한 개의 새로운 레스토랑을 열었고 하반기에 두 개를 더 열 계획인 확장 계획을 추진하고 있습니다. 회사는 또한 리모델링 이니셔티브와 주식 매입 프로그램을 계속 진행하고 있으며, 2024년 2분기 동안 약 255,000주의 주식을 880만 달러에 매입했습니다.
BJ's Restaurants, Inc. (NASDAQ: BJRI) a annoncé ses résultats pour le deuxième trimestre de l'exercice 2024, montrant une légère augmentation de 0,1 % des revenus totaux, atteignant 349,9 millions de dollars. Malgré une baisse de 0,6 % des ventes de restaurants comparables, le bénéfice net a augmenté pour atteindre 17,2 millions de dollars, contre 11,9 millions de dollars l'année précédente, avec un bénéfice net dilué par action qui est passé de 0,50 dollar à 0,72 dollar. EBITDA ajusté a également progressé, s'élevant à 36,1 millions de dollars, contre 31,8 millions de dollars au même trimestre l'année précédente.
L'entreprise a observé une amélioration des tendances de ventes tout au long du trimestre, en particulier lors des célébrations clés comme la fête des mères et la fête des pères. Les marges d'exploitation au niveau des restaurants ont augmenté de 100 points de base pour atteindre 15,5 %. BJ's reste sur la bonne voie avec ses plans d'expansion, ayant ouvert un nouveau restaurant au cours du premier semestre de 2024 et prévoyant d'en ouvrir deux autres au second semestre. L'entreprise continue également son initiative de rénovation et son programme de rachat d'actions, ayant racheté environ 255 000 actions pour un coût de 8,8 millions de dollars au cours du deuxième trimestre de 2024.
BJ's Restaurants, Inc. (NASDAQ: BJRI) hat die Ergebnisse des zweiten Quartals des Geschäftsjahres 2024 veröffentlicht und einen leichten Anstieg der Gesamteinnahmen um 0,1% auf 349,9 Millionen Dollar verzeichnet. Trotz eines Rückgangs der vergleichbaren Restaurantumsätze um 0,6 % stieg der Nettogewinn von 11,9 Millionen Dollar im Vorjahr auf 17,2 Millionen Dollar, während der verwässerte Nettogewinn pro Aktie von 0,50 Dollar auf 0,72 Dollar anstieg. Bereinigtes EBITDA verbesserte sich auf 36,1 Millionen Dollar, verglichen mit 31,8 Millionen Dollar im gleichen Quartal des Vorjahres.
Das Unternehmen verzeichnete im gesamten Quartal verbesserte Verkaufszahlen, insbesondere rund um wichtige Feierlichkeiten wie den Muttertag und den Vatertag. Die Betriebsmargen auf Restaurantebene stiegen um 100 Basispunkte auf 15,5 %. BJ's bleibt auf Kurs mit seinen Expansionsplänen, hat in der ersten Hälfte von 2024 ein neues Restaurant eröffnet und plant zwei weitere in der zweiten Hälfte des Jahres. Das Unternehmen setzt auch sein Renovierungsprojekt und das Aktienrückkaufprogramm fort und hat im zweiten Quartal 2024 etwa 255.000 Aktien zu einem Preis von 8,8 Millionen Dollar zurückgekauft.
- Net income increased to $17.2 million from $11.9 million year-over-year
- Diluted net income per share rose to $0.72 from $0.50
- Adjusted EBITDA improved to $36.1 million, up 13% year-over-year
- Restaurant level operating margins increased by 100 basis points to 15.5%
- Company on track to open two additional restaurants in the second half of 2024
- New restaurant prototype budgeted at approximately $1 million less than prior prototype
- Comparable restaurant sales declined 0.6%
- Softer sales start in April
Insights
BJ's Restaurants' Q2 2024 results reveal a mixed bag of performance indicators. Total revenues increased marginally by
The standout figure is the net income of
Adjusted EBITDA rose by
The company's capital allocation strategy, focusing on growth initiatives and share repurchases, appears balanced. However, investors should note that BJ's repurchased
While the company's ability to generate free cash flow is positive, the slowing comparable sales growth and reliance on special occasions for sales records may be concerning for long-term growth prospects. The success of the new restaurant prototype and remodel initiative will be critical to watch in coming quarters.
BJ's Restaurants' Q2 performance highlights some interesting market trends. The company's success during key celebratory occasions like Mother's Day, Father's Day and graduations indicates a strong positioning in the 'special dining out' segment. This could be a double-edged sword - while it's great for driving high-value traffic, it may also suggest a struggle to maintain consistent everyday dining appeal.
The slight decline in comparable restaurant sales (
The company's focus on restaurant remodels and a new, more efficient prototype is a smart move in the current market. With approximately half of BJ's restaurants set to be either a newer prototype or recently remodeled by the end of 2024, the company is positioning itself well to attract both current and new guests. This strategy aligns with industry trends of creating more engaging and efficient dining spaces.
However, the reliance on these physical improvements to drive growth, rather than menu innovation or digital initiatives, may be a potential risk in an increasingly tech-driven restaurant landscape. As competitors invest heavily in digital ordering, loyalty programs and off-premise dining solutions, BJ's will need to ensure it's not falling behind in these areas.
The company's ability to improve profitability in a challenging sales environment is commendable, but sustained top-line growth will be important for long-term success in the competitive casual dining sector.
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 - Adjusted EBITDA of
$36.1 million , compared to$31.8 million
“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, comparable restaurant sales improved throughout the second quarter as guests chose BJ’s for their most important celebrations. Approximately half of our restaurants set sales records during the quarter, particularly around Mother’s Day, Father’s Day and graduations. The improving sales trend, coupled with our productivity initiatives, drove restaurant level operating margins higher by 100 basis points to
“Our
BJ’s opened one new restaurant in the first half of 2024 and remains on track to open two additional restaurants in the second half of the year. All future BJ’s will feature a new restaurant prototype budgeted at approximately
During the second quarter of 2024, the Company repurchased and retired approximately 255,000 shares of its common stock at a cost of approximately
Investor Conference Call and Webcast
BJ’s Restaurants, Inc. will conduct a conference call on its second quarter 2024 earnings release today, July 25, 2024, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Management will discuss the financial results and host a question and answer session. In addition, a live audio webcast of the call will be accessible to the public on the “Investors” page of the Company’s website located at http://www.bjsrestaurants.com, and a recording of the webcast will be archived on the site for 30 days following the live event. Please allow 15 minutes to register and download and install any necessary software.
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-brewery in the country, BJ’s has been a pioneer in the craft brewing world since 1996 and takes pride in serving BJ’s award-winning proprietary handcrafted beers, brewed at its brewing operations in four states and by independent third-party craft brewers. The BJ’s experience offers high-quality ingredients, bold flavors, moderate prices, sincere service, and a cool, contemporary atmosphere. Founded in 1978, BJ’s owns and operates over 200 casual dining restaurants in 31 states. All restaurants offer dine-in, take-out, delivery and large party catering. For more BJ’s information, visit http://www.bjsrestaurants.com.
Forward-Looking Statements Disclaimer
Certain statements in the preceding paragraphs and all other statements that are not purely historical constitute “forward-looking” statements for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Such statements include, but are not limited to, those regarding expected comparable restaurant sales and margins, total potential domestic capacity, the success of various sales-building and productivity initiatives, future guest traffic trends, on and off-premise sales trends, cost savings initiatives and the number and timing of new restaurants expected to be opened in future periods. These “forward-looking” statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those projected or anticipated. Factors that might cause such differences include, but are not limited to: (i) any inability or failure to successfully and sufficiently raise menu prices to offset rising costs, (ii) any inability to manage new restaurant openings, (iii) construction delays, (iv) wage inflation and competitive labor market conditions which may result in staffing shortages, (v) the impact of any union organizing efforts at our restaurants and our responses to such efforts, (vi) increases in minimum wage and other employment related costs, including compliance with the Patient Protection and Affordable Care Act and minimum salary requirements for exempt team members, (vii) the effect of credit and equity market disruptions on our ability to finance our continued expansion on acceptable terms, (viii) food quality and health concerns and the effect of negative publicity about us, our restaurants, other restaurants, or others across the food supply chain, due to food borne illness or other illnesses or other reasons, whether or not accurate, (ix) factors that impact California, Texas and Florida, where a substantial number of our restaurants are located, (x) restaurant and brewery industry competition, (xi) impact of certain brewing business considerations, including without limitation, dependence upon suppliers, third party contractors and distributors, and related hazards, (xii) consumer spending trends in general for casual dining occasions, (xiii) potential uninsured losses and liabilities due to limitations on insurance coverage, (xiv) fluctuating commodity costs and availability of food in general and certain raw materials related to the brewing of our craft beers and energy requirements, (xv) trademark and service-mark risks, (xvi) government regulations and licensing costs, including beer and liquor regulations, (xvii) loss of key personnel, (xviii) inability to secure acceptable sites, (xix) legal proceedings, (xx) the success of our key sales-building and related operational initiatives, (xxi) any failure of our information technology or security breaches with respect to our electronic systems and data, and (xxii) numerous other matters discussed in the Company’s filings with the Securities and Exchange Commission, including its recent reports on Forms 10-K, 10-Q and 8-K. The “forward-looking” statements contained in this press release are based on current assumptions and expectations, and BJ’s Restaurants, Inc. undertakes no obligation to update or alter its “forward-looking” statements whether as a result of new information, future events or otherwise.
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.
| BJ’s Restaurants, Inc. | |||||||||||||||||||||
| Unaudited Consolidated Statements of Operations | |||||||||||||||||||||
| (Dollars in thousands except for per share data) | |||||||||||||||||||||
| Second Quarter Ended | Six Months Ended | ||||||||||||||||||||
| July 2, 2024 | July 4, 2023 | July 2, 2024 | July 4, 2023 | ||||||||||||||||||
| Revenues | $ | 349,927 | 100.0 | % | $ | 349,670 | 100.0 | % | $ | 687,261 | 100.0 | % | $ | 690,950 | 100.0 | % | |||||
| Restaurant operating costs (excluding depreciation and amortization): | |||||||||||||||||||||
| Cost of sales | 89,836 | 25.7 | 90,614 | 25.9 | 174,789 | 25.4 | 181,491 | 26.3 | |||||||||||||
| Labor and benefits | 126,309 | 36.1 | 126,522 | 36.2 | 251,330 | 36.6 | 254,855 | 36.9 | |||||||||||||
| Occupancy and operating | 79,566 | 22.7 | 81,912 | 23.4 | 156,424 | 22.8 | 161,058 | 23.3 | |||||||||||||
| General and administrative | 20,604 | 5.9 | 21,194 | 6.1 | 43,601 | 6.3 | 40,900 | 5.9 | |||||||||||||
| Depreciation and amortization | 18,163 | 5.2 | 17,708 | 5.1 | 36,036 | 5.2 | 35,320 | 5.1 | |||||||||||||
| Restaurant opening | 300 | 0.1 | 378 | 0.1 | 890 | 0.1 | 1,222 | 0.2 | |||||||||||||
| Loss on disposal and impairment of assets, net | 1,928 | 0.6 | 1,130 | 0.3 | 2,712 | 0.4 | 3,276 | 0.5 | |||||||||||||
| Total costs and expenses | 336,706 | 96.2 | 339,458 | 97.1 | 665,782 | 96.9 | 678,122 | 98.1 | |||||||||||||
| Income from operations | 13,221 | 3.8 | 10,212 | 2.9 | 21,479 | 3.1 | 12,828 | 1.9 | |||||||||||||
| Other (expense) income: | |||||||||||||||||||||
| Interest expense, net | (1,259 | ) | (0.4 | ) | (1,108 | ) | (0.3 | ) | (2,670 | ) | (0.4 | ) | (2,229 | ) | (0.3 | ) | |||||
| Other income, net | 2,772 | 0.8 | 622 | 0.2 | 3,468 | 0.5 | 818 | 0.1 | |||||||||||||
| Total other income (expense) | 1,513 | 0.4 | (486 | ) | (0.1 | ) | 798 | 0.1 | (1,411 | ) | (0.2 | ) | |||||||||
| Income before income taxes | 14,734 | 4.2 | 9,726 | 2.8 | 22,277 | 3.2 | 11,417 | 1.7 | |||||||||||||
| Income tax benefit | (2,423 | ) | (0.7 | ) | (2,206 | ) | (0.6 | ) | (2,603 | ) | (0.4 | ) | (3,996 | ) | (0.6 | ) | |||||
| Net income | $ | 17,157 | 4.9 | % | $ | 11,932 | 3.4 | % | $ | 24,880 | 3.6 | % | $ | 15,413 | 2.2 | % | |||||
| Net income per share: | |||||||||||||||||||||
| Basic | $ | 0.74 | $ | 0.51 | $ | 1.07 | $ | 0.66 | |||||||||||||
| Diluted | $ | 0.72 | $ | 0.50 | $ | 1.04 | $ | 0.64 | |||||||||||||
| Weighted average number of shares outstanding: | |||||||||||||||||||||
| Basic | 23,309 | 23,539 | 23,313 | 23,510 | |||||||||||||||||
| Diluted | 23,921 | 23,971 | 23,954 | 23,961 | |||||||||||||||||
Percentages reflected above may not reconcile due to rounding.
| BJ’s Restaurants, Inc. | |||||||
| Selected Consolidated Balance Sheet Information | |||||||
| (Dollars in thousands) | |||||||
| July 2, 2024 (unaudited) | January 2, 2024 | ||||||
| Cash and cash equivalents | $ | 16,185 | $ | 29,070 | |||
| Total assets | $ | 1,044,136 | $ | 1,058,454 | |||
| Total debt | $ | 63,500 | $ | 68,000 | |||
| Shareholders’ equity | $ | 386,489 | $ | 365,761 | |||
| BJ’s Restaurants, Inc. | |||||||||||||||||||||
| Unaudited Supplemental Information | |||||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||
| Second Quarter Ended | Six Months Ended | ||||||||||||||||||||
| July 2, 2024 | July 4, 2023 | July 2, 2024 | July 4, 2023 | ||||||||||||||||||
| Stock-based compensation (1) | |||||||||||||||||||||
| Labor and benefits | $ | 529 | 0.2 | % | $ | 410 | 0.1 | % | $ | 1,037 | 0.2 | % | $ | 1,276 | 0.2 | % | |||||
| General and administrative | 2,237 | 0.6 | 2,368 | 0.7 | 4,206 | 0.6 | 4,144 | 0.6 | |||||||||||||
| Total stock-based compensation | $ | 2,766 | 0.8 | % | $ | 2,778 | 0.8 | % | $ | 5,243 | 0.8 | % | $ | 5,420 | 0.8 | % | |||||
| Operating Data | |||||||||||||||||||||
| Comparable restaurant sales % change | (0.6 | )% | 4.7 | % | (1.1 | )% | 6.8 | % | |||||||||||||
| Restaurants opened during period | - | 1 | 1 | 2 | |||||||||||||||||
| Restaurants open at period-end | 216 (2) | 216 (2) | 216 (2) | 216 (3) | |||||||||||||||||
| Restaurant operating weeks | 2,821 | 2,808 | 5,629 | 5,616 | |||||||||||||||||
(1) Percentages represent percent of total revenues and may not reconcile due to rounding.
(2) During the period, one restaurant was permanently closed.
(3) During the period, two restaurants were permanently closed.
Note Regarding Non-GAAP Financial Measures
The Company is reporting certain non-GAAP financial results and related reconciliations to the corresponding GAAP financial measures. These non-GAAP measures are not in accordance with, or a substitute for, measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. These measures should only be used to evaluate the Company’s results of operations in conjunction with corresponding GAAP measures.
Restaurant Level Operating Margin
Restaurant level operating margin, a non-GAAP financial measure, is equal to the revenues generated by our restaurants less their direct operating costs which consist of cost of sales, labor and benefits, and occupancy and operating costs. This performance measure primarily includes the costs that restaurant level managers can directly control and excludes other operating costs that are essential to conduct the Company’s business, as detailed in the table below. Management uses restaurant level operating margin as a supplemental measure of restaurant performance. Management believes restaurant level operating margin is useful to investors in that it highlights trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures. Because other companies may calculate restaurant level operating margin differently than we do, restaurant level operating margin as presented herein may not be comparable to similarly titled measures reported by other companies.
A reconciliation of income from operations to restaurant level operating margin for the second quarter ended July 2, 2024, and July 4, 2023, is set forth below:
| Supplemental Financial Information – Restaurant Level Operating Margin | |||||||||||||||||||||
| (Unaudited, dollars in thousands) | |||||||||||||||||||||
| Second Quarter Ended | Six Months Ended | ||||||||||||||||||||
| July 2, 2024 | July 4, 2023 | July 2, 2024 | July 4, 2023 | ||||||||||||||||||
| Income from operations | $ | 13,221 | 3.8 | % | $ | 10,212 | 2.9 | % | $ | 21,479 | 3.1 | % | $ | 12,828 | 1.9 | % | |||||
| General and administrative | 20,604 | 5.9 | 21,194 | 6.1 | 43,601 | 6.3 | 40,900 | 5.9 | |||||||||||||
| Depreciation and amortization | 18,163 | 5.2 | 17,708 | 5.1 | 36,036 | 5.2 | 35,320 | 5.1 | |||||||||||||
| Restaurant opening | 300 | 0.1 | 378 | 0.1 | 890 | 0.1 | 1,222 | 0.2 | |||||||||||||
| Loss on disposal and impairment of assets, net | 1,928 | 0.6 | 1,130 | 0.3 | 2,712 | 0.4 | 3,276 | 0.5 | |||||||||||||
| Restaurant level operating margin | $ | 54,216 | 15.5 | % | $ | 50,622 | 14.5 | % | $ | 104,718 | 15.2 | % | $ | 93,546 | 13.5 | % | |||||
Percentages above represent percent of total revenues and may not reconcile due to rounding.
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”)
Adjusted EBITDA is a non-GAAP financial measure that represents the sum of net income adjusted for certain expenses and gains/losses detailed within the reconciliation below. Management uses Adjusted EBITDA as a supplemental measure of our performance. Management believes these measures are useful to investors in that they highlight cash flow and trends in our core business that may not otherwise be apparent to investors when relying solely on GAAP financial measures. Because other companies may calculate these measures differently than we do, Adjusted EBITDA as presented herein may not be comparable to similarly titled measures reported by other companies.
A reconciliation of net income to Adjusted EBITDA for the second quarter ended July 2, 2024, and July 4, 2023, is set forth below:
| Supplemental Financial Information – Net Income to Adjusted EBITDA | |||||||||||||||||||||
| (Unaudited, dollars in thousands) | |||||||||||||||||||||
| Second Quarter Ended | Six Months Ended | ||||||||||||||||||||
| July 2, 2024 | July 4, 2023 | July 2, 2024 | July 4, 2023 | ||||||||||||||||||
| Net income | $ | 17,157 | 4.9 | % | $ | 11,932 | 3.4 | % | $ | 24,880 | 3.6 | % | $ | 15,413 | 2.2 | % | |||||
| Interest expense, net | 1,259 | 0.4 | 1,108 | 0.3 | 2,670 | 0.4 | 2,229 | 0.3 | |||||||||||||
| Income tax benefit | (2,423 | ) | (0.7 | ) | (2,206 | ) | (0.6 | ) | (2,603 | ) | (0.4 | ) | (3,996 | ) | (0.6 | ) | |||||
| Depreciation and amortization | 18,163 | 5.2 | 17,708 | 5.1 | 36,036 | 5.2 | 35,320 | 5.1 | |||||||||||||
| Stock-based compensation expense | 2,766 | 0.8 | 2,778 | 0.8 | 5,243 | 0.8 | 5,420 | 0.8 | |||||||||||||
| Other income, net | (2,772 | ) | (0.8 | ) | (622 | ) | (0.2 | ) | (3,468 | ) | (0.5 | ) | (818 | ) | (0.1 | ) | |||||
| Loss on disposal and impairment of assets, net | 1,928 | 0.6 | 1,130 | 0.3 | 2,712 | 0.4 | 3,276 | 0.5 | |||||||||||||
| Adjusted EBITDA | $ | 36,078 | 10.3 | % | $ | 31,828 | 9.1 | % | $ | 65,470 | 9.5 | % | $ | 56,844 | 8.2 | % | |||||
Percentages above represent percent of total revenues and may not reconcile due to rounding.
FAQ
What were BJ's Restaurants' (BJRI) total revenues for Q2 2024?
How did BJ's Restaurants' (BJRI) net income change in Q2 2024 compared to Q2 2023?
What was BJ's Restaurants' (BJRI) diluted net income per share for Q2 2024?
How many new restaurants did BJ's Restaurants (BJRI) open in the first half of 2024?
How many shares did BJ's Restaurants (BJRI) repurchase in Q2 2024?
