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BJ's Restaurants (BJRI) Posts In-Line Q4 Earnings, Revenues Top
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BJ's Restaurants, Inc. (BJRI - Free Report) reported fourth-quarter fiscal 2020 results, wherein earnings matched the Zacks Consensus Estimate, while revenues surpassed the same. Notably, the top line outpaced the consensus mark for the third straight quarter.
Earnings & Revenues
Adjusted net loss of 80 cents per share was in line with the Zacks Consensus Estimate. In the year-ago period, the company had reported adjusted earnings of 56 cents per share.
Total quarterly revenues of $197 million beat the consensus estimate of $196.8 million by 0.12%. However, the top line declined 32.3% on a year-over-year basis. Lower comparable restaurant sales led to the decline. However, total restaurant operating weeks increased approximately 0.6% from the prior-year quarter. Comparable restaurant sales slumped 32.3% against a gain of 0.4% in the year-ago quarter.
BJs Restaurants, Inc. Price, Consensus and EPS Surprise
During the fiscal fourth quarter, labor costs, as a percentage of sales, came in at 38.4%, up 200 basis points (bps) year over year. Occupancy and operating costs (as a percentage of sales) were 29.1% compared with 22.5% in the year-ago quarter. General and administrative expenses (as a percentage of sales) increased 150 bps to 6.8% in the quarter.
Restaurant-level operating margin came in at 6.6% compared with 16% in the year-ago quarter.
Store Count
As of Dec 29, 2020, BJ’s Restaurants owned and operated 210 casual dining restaurants (in 29 states), out of which one is temporarily closed due to the COVID-19 crisis. The company is planning to expand presence to at least 425 restaurants.
Balance Sheet
As of Dec 29, 2020, cash and cash equivalents totaled $50 million compared with $22.4 million on Dec 31, 2019. Total debt as of Dec 29, 2020 amounted to $116.8 million compared with $143 million at 2019-end.
Zacks Rank
BJ's Restaurants, which share space with Brinker International, Inc. (EAT - Free Report) Chuy's Holdings, Inc. (CHUY - Free Report) and Fiesta Restaurant Group, Inc. currently has a Zacks Rank #4 (Sell).
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Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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BJ's Restaurants (BJRI) Posts In-Line Q4 Earnings, Revenues Top
BJ's Restaurants, Inc. (BJRI - Free Report) reported fourth-quarter fiscal 2020 results, wherein earnings matched the Zacks Consensus Estimate, while revenues surpassed the same. Notably, the top line outpaced the consensus mark for the third straight quarter.
Earnings & Revenues
Adjusted net loss of 80 cents per share was in line with the Zacks Consensus Estimate. In the year-ago period, the company had reported adjusted earnings of 56 cents per share.
Total quarterly revenues of $197 million beat the consensus estimate of $196.8 million by 0.12%. However, the top line declined 32.3% on a year-over-year basis. Lower comparable restaurant sales led to the decline. However, total restaurant operating weeks increased approximately 0.6% from the prior-year quarter. Comparable restaurant sales slumped 32.3% against a gain of 0.4% in the year-ago quarter.
BJs Restaurants, Inc. Price, Consensus and EPS Surprise
BJs Restaurants, Inc. price-consensus-eps-surprise-chart | BJs Restaurants, Inc. Quote
Expenses & Operating Margins
During the fiscal fourth quarter, labor costs, as a percentage of sales, came in at 38.4%, up 200 basis points (bps) year over year. Occupancy and operating costs (as a percentage of sales) were 29.1% compared with 22.5% in the year-ago quarter. General and administrative expenses (as a percentage of sales) increased 150 bps to 6.8% in the quarter.
Restaurant-level operating margin came in at 6.6% compared with 16% in the year-ago quarter.
Store Count
As of Dec 29, 2020, BJ’s Restaurants owned and operated 210 casual dining restaurants (in 29 states), out of which one is temporarily closed due to the COVID-19 crisis. The company is planning to expand presence to at least 425 restaurants.
Balance Sheet
As of Dec 29, 2020, cash and cash equivalents totaled $50 million compared with $22.4 million on Dec 31, 2019. Total debt as of Dec 29, 2020 amounted to $116.8 million compared with $143 million at 2019-end.
Zacks Rank
BJ's Restaurants, which share space with Brinker International, Inc. (EAT - Free Report) Chuy's Holdings, Inc. (CHUY - Free Report) and Fiesta Restaurant Group, Inc. currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>