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

BJ’s Restaurants (NASDAQ:BJRI) released its quarterly earnings data on Thursday. The restaurant operator reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04, FiscalAI reports. The company had revenue of $388.89 million for the quarter, compared to the consensus estimate of $377.07 million. BJ’s Restaurants had a return on equity of 13.48% and a net margin of 3.15%.BJ’s Restaurants’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS.

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 Trading Down 6.8%

Shares of BJRI stock traded down $5.04 on Friday, hitting $69.22. The company had a trading volume of 302,124 shares, compared to its average volume of 411,152. BJ’s Restaurants has a twelve month low of $28.46 and a twelve month high of $74.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.25 and a current ratio of 0.31. The firm has a market cap of $1.45 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.23 and a beta of 1.31. The stock’s 50-day moving average is $56.28 and its two-hundred day moving average is $45.46.

Key BJ’s Restaurants News

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

• Positive Sentiment: Quarterly revenue rose 6.4% year over year to $388.9 million, exceeding the $377.1 million analyst estimate. Adjusted earnings of $0.94 per share also surpassed consensus expectations, while comparable restaurant sales increased 6.5%. BJ’s Restaurants Fiscal Second Quarter 2026 Results
• Positive Sentiment: BJ’s Restaurants raised its fiscal 2026 financial guidance, signaling management’s confidence in continued sales momentum and supporting the bullish investment case. Benzinga analyst update
• Positive Sentiment: Benchmark Co. lifted its price target from $68 to $80 and upgraded its rating to “buy,” indicating expected upside from current trading levels. Benchmark price-target update
• Neutral Sentiment: The earnings beat was helped by revenue and operating performance, but quarterly EPS declined from $0.97 in the year-ago period to $0.94. That comparison may limit investor enthusiasm despite the raised outlook. BJRI Q2 earnings and revenues
• Negative Sentiment: At roughly 35 times earnings and near its 52-week high, BJRI’s valuation leaves less room for disappointment. Investors may be taking profits or demanding stronger margin and earnings growth before pushing the shares higher.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BJRI shares. William Blair upgraded BJ’s Restaurants from a “market perform” rating to an “outperform” rating in a research report on Friday, July 17th. Benchmark upped their price objective on BJ’s Restaurants from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings downgraded BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Mizuho set a $60.00 target price on shares of BJ’s Restaurants in a research report on Friday, July 24th. Finally, Piper Sandler boosted their target price on shares of BJ’s Restaurants from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BJ’s Restaurants currently has a consensus rating of “Hold” and an average target price of $50.88.

Insider Buying and Selling

In other BJ’s Restaurants news, EVP Brian S. Krakower sold 7,341 shares of the firm’s 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 owned 4,721 shares in the company, valued at approximately $260,457.57. This trade represents a 60.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory S. Lynds sold 6,201 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.86, for a total transaction of $346,387.86. Following the completion of the transaction, the executive vice president owned 46,474 shares in the company, valued at $2,596,037.64. This trade represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 63,817 shares of company stock valued at $3,384,688 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BJ’s Restaurants

Several large investors have recently modified their holdings of BJRI. Empowered Funds LLC bought a new position in BJ’s Restaurants during the fourth quarter worth $3,942,000. Millennium Management LLC grew its holdings in BJ’s Restaurants by 394.5% during the 4th quarter. Millennium Management LLC now owns 309,269 shares of the restaurant operator’s stock worth $12,185,000 after acquiring an additional 246,733 shares during the period. Janus Henderson Group PLC bought a new position in shares of BJ’s Restaurants in the 4th quarter worth about $211,000. Balyasny Asset Management L.P. bought a new position in shares of BJ’s Restaurants in the 4th quarter worth about $10,863,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of BJ’s Restaurants in the 4th quarter valued at about $5,912,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

About BJ’s Restaurants

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.