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Jan 02, 2024
BJ's Q4 2024 Earnings Report
BJ's Restaurants, Inc. reported its fiscal fourth quarter and fiscal year 2024 financial results.
Key Takeaways
BJ's Restaurants, Inc. achieved significant progress in Q4 2024, with total revenue increasing by 6.4% to $344.3 million and comparable restaurant sales growing by 5.5%. The company also saw a 13.8% increase in restaurant level operating profit, reaching $52.9 million, and a 21.1% increase in Adjusted EBITDA to $33.1 million.
Total revenue increased 6.4% to $344.3 million in Q4 2024.
Comparable restaurant sales grew by 5.5% in Q4 2024, driven primarily by increases in guest traffic.
Restaurant level operating profit increased 13.8% to $52.9 million, with a margin of 15.4%.
Adjusted EBITDA rose 21.1% to $33.1 million, inclusive of strategic investment expenses.
BJ's
BJ's
Forward Guidance
For fiscal 2025, management anticipates comparable restaurant sales growth of 2% to 3%, restaurant level operating profit between $205 million and $215 million, Adjusted EBITDA between $127 million and $137 million, capital expenditures between $65 million and $75 million, and share repurchases between $40 million and $50 million.
Positive Outlook
- Anticipated comparable restaurant sales growth of 2% to 3%.
- Projected restaurant level operating profit between $205 million and $215 million.
- Expected Adjusted EBITDA between $127 million and $137 million.
- Planned capital expenditures of $65 million to $75 million.
- Anticipated share repurchases of $40 million to $50 million.
Challenges Ahead
- Inability to successfully raise menu prices to offset rising costs.
- Challenges in managing new restaurant openings.
- Construction delays impacting new restaurant development.
- Wage inflation and competitive labor market conditions leading to staffing shortages.
- Increases in minimum wage and other employment-related costs.