BJ's Restaurants (BJRI) Q1 Earnings & Revenues Beat Estimates
Zacks Investment Research | Apr 25, 2019 10:23PM ET
BJ’s Restaurants, Inc. (NASDAQ:BJRI) reported better-than-expected results for the first quarter of 2019. With this, the company’s top line surpassed estimates for six straight quarters while the bottom line exceeded it in five of the trailing six quarters.
Adjusted earnings of 62 cents surpassed the Zacks Consensus Estimate for earnings of 51 cents by 21.6%. The bottom line, however, decreased 11.4% year over year.
Revenues & Comps
Total quarterly revenues were $290.6 million, which surpassed the consensus estimate of $289.1 million by 0.5%. The top line also grew 4.3% year over year, driven by increased guest traffic and comps.
Comparable restaurant sales in the quarter under review increased 4.2%. The uptick was driven by a 0.7% increase in guest traffic and rise in average check. Notably, comps growth was slightly lower than 4.5% increase recorded in the fourth quarter of 2018 and compared favorably with 2% increase in the year-ago quarter. The company stated that robust sales-building efforts and marketing efficiency will continue to drive comps in the quarters to come.
BJ's Restaurants, Inc. Price, Consensus and EPS Surprise
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