BJ's Q3 2023 Earnings Report
Key Takeaways
BJ's Restaurants, Inc. reported improved restaurant level operating margin by 160 basis points and increased Adjusted EBITDA by approximately 30% compared to the prior year. The company also realized over $30 million of annualized savings from cost savings initiatives.
Restaurant operating margin improved by 160 basis points.
Adjusted EBITDA increased by approximately 30% from the prior year.
More than $30 million of annualized savings realized from cost savings initiatives to date.
Comparable restaurant sales for the first three weeks of October are trending in the low single digits, an improvement of more than 500 basis points from September levels.
BJ's
BJ's
Forward Guidance
The company is well-positioned to achieve near- and mid-term sales and margin growth objectives, enabling them to add new restaurants, remodel existing ones, and return capital to shareholders.