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Jun 30, 2020
BJ's Q2 2020 Earnings Report
Reported financial results for the second quarter of 2020 and provided a business update given the continued impact of the COVID-19 pandemic.
Key Takeaways
BJ's Restaurants, Inc. reported its Q2 2020 financial results, showing resilience amidst the COVID-19 pandemic. The company adapted its operating model to focus on take-out and delivery, expanded outdoor seating, and recalled a significant portion of its team members. While sales volumes and margins were below historical levels, they demonstrated the strength of the BJ's brand and operating model.
Expanded average weekly off-premise sales per restaurant to more than $30,000 a week by late April, a threefold increase from pre-COVID levels.
Reopened the majority of dining rooms with capacity limitations for social distancing throughout May and June.
Weekly sales average per restaurant improved to approximately $75,000 by late June.
Generated restaurant level cash flow margin percentages in the mid-teens range by late June.
Forward Guidance
The Company expects to open one more restaurant, in Orange Village, Ohio during the fourth quarter of this year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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