BJ’s Restaurants (NASDAQ:BJRI) Posts Earnings Results, Beats Estimates By $0.04 EPS

BJ’s Restaurants (NASDAQ:BJRI) posted its earnings results on Thursday. The restaurant operator reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04, FiscalAI reports. BJ’s Restaurants had a return on equity of 13.21% and a net margin of 2.86%.The firm had revenue of $388.89 million during the quarter, compared to analyst estimates of $377.07 million. During the same period in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.

Here are the key takeaways from BJ’s Restaurants’ conference call:

• Strong traffic-led growth continued: Second-quarter comparable sales rose 6.5%, driven by 8.3% traffic growth, marking the company’s eighth consecutive quarter of sales and traffic growth and significant outperformance versus casual-dining benchmarks.
• Margins improved despite inflation: Restaurant-level operating margin expanded 20 basis points to 17.2%, while adjusted EBITDA increased to $44.4 million from $42.1 million. Labor leverage, lower food waste, improved menu mix, and better execution helped offset a 120-basis-point commodity headwind.
• Full-year guidance was raised: BJ’s increased its comparable-sales outlook to 3%–4%, restaurant-level operating profit guidance to $228 million–$235 million, and adjusted EBITDA guidance to $145 million–$152 million, citing strong first-half results and positive Q3 momentum.
• Balance-sheet flexibility improved: The company repaid $18 million of debt and ended the quarter with approximately $30 million of net debt, down from $61 million at the start of the year, while maintaining plans for up to $50 million in share repurchases.
• Value-driven traffic is pressuring average checks: Average check declined 1.8% in Q2, largely because the popular Biscoff Pizookie and Pizookie Meal Deal attracted trial visits and younger guests. Management expects the pressure to ease in Q3 and anticipates moderately positive check growth by Q4, although seasonal Pizookie performance remains a variable.

BJ’s Restaurants Stock Performance

Shares of BJ’s Restaurants stock opened at $67.61 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.42 billion, a PE ratio of 36.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.31. The business has a 50 day moving average price of $56.74 and a 200-day moving average price of $45.62. BJ’s Restaurants has a 52 week low of $28.46 and a 52 week high of $74.60.

Key Stories Impacting BJ’s Restaurants

Here are the key news stories impacting BJ’s Restaurants this week:

• Positive Sentiment: BJ’s reported fiscal Q2 revenue of $388.9 million, up 6.4% year over year and above the $377.1 million consensus estimate. Adjusted earnings were $0.94 per share, exceeding estimates ranging from $0.87 to $0.90. BJ’s Restaurants Fiscal Second Quarter 2026 Results
• Positive Sentiment: Comparable restaurant sales increased 6.5%, indicating solid customer demand, and management raised its fiscal 2026 financial guidance. BJ’s Restaurants Fiscal Second Quarter 2026 Results
• Positive Sentiment: Benchmark Co. raised its BJRI price target from $68 to $80 and upgraded the stock to “Buy,” implying approximately 18% upside from the referenced share price. Benchmark price target and rating update
• Neutral Sentiment: The earnings call and related coverage provide additional context on the quarter and the company’s outlook, but the available reports do not identify a major change beyond the raised guidance. BJRI Q2 2026 Earnings Call Transcript
• Negative Sentiment: Although results beat expectations, quarterly EPS declined from $0.97 in the prior-year period. With BJRI trading near its 52-week high and at a relatively rich earnings multiple, investors may be demanding stronger profit growth, helping explain the weaker share-price reaction.

Insider Activity at BJ’s Restaurants

In other news, EVP Brian S. Krakower sold 7,341 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.17, for a total transaction of $405,002.97. Following the completion of the transaction, the executive vice president directly owned 4,721 shares of the company’s stock, valued at $260,457.57. This represents a 60.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noah A. Elbogen sold 4,652 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $54.00, for a total transaction of $251,208.00. Following the completion of the transaction, the director owned 76,235 shares of the company’s stock, valued at $4,116,690. This trade represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 63,817 shares of company stock valued at $3,384,688 in the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On BJ’s Restaurants

A number of large investors have recently added to or reduced their stakes in BJRI. UBS Group AG boosted its holdings in BJ’s Restaurants by 576.9% during the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator’s stock valued at $44,326,000 after acquiring an additional 1,237,383 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of BJ’s Restaurants by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,084,001 shares of the restaurant operator’s stock worth $42,709,000 after purchasing an additional 23,513 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in BJ’s Restaurants by 48.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator’s stock valued at $28,557,000 after buying an additional 306,930 shares during the last quarter. Raymond James Financial Inc. boosted its position in BJ’s Restaurants by 67.3% during the 3rd quarter. Raymond James Financial Inc. now owns 388,779 shares of the restaurant operator’s stock valued at $11,869,000 after buying an additional 156,458 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of BJ’s Restaurants by 8.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 385,230 shares of the restaurant operator’s stock valued at $15,178,000 after acquiring an additional 30,269 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BJRI. Barclays decreased their price target on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Piper Sandler increased their price target on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. DA Davidson set a $65.00 target price on BJ’s Restaurants in a research report on Friday. Finally, William Blair raised BJ’s Restaurants from a “market perform” rating to an “outperform” rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.88.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.