Nov 5, 2026, 4:06 PM ETConsumer Cyclical

BJ's Restaurants, Inc. — Fiscal Third Quarter 2026 Earnings Summary

BJRIBJS RESTAURANTS INC

Financial Performance

Total revenues increased 8.6% year-over-year to $358.6 million for the third quarter ended September 29, 2026.
Comparable restaurant sales increased 8.1% year-over-year.
Restaurant level operating profit rose 27.9% to $52.9 million, with the margin expanding to 14.7% from 12.5% in the prior year period.
Diluted net income per share was $0.24, compared to $0.02 in the prior year; adjusted diluted net income per share was $0.33.
Adjusted EBITDA increased 48.6% to $31.4 million from $21.1 million in the prior year.
Net income for the nine months ended September 29, 2026, was $33.1 million, down from $36.2 million in the prior year period.
Total debt decreased to $16.0 million as of September 29, 2026, from $85.0 million at the end of fiscal 2025.
Cash and cash equivalents were $12.9 million as of September 29, 2026, compared to $23.8 million at the end of fiscal 2025.

Fiscal 2026 comparable restaurant sales guidance was raised to an increase of approximately 4.7%, up from the prior outlook of 3.0% to 4.0%.
Fiscal 2026 restaurant level operating profit guidance was raised to a range of $233 million to $237 million, up from $228 million to $235 million.
Fiscal 2026 Adjusted EBITDA guidance was raised to a range of $149 million to $154 million, up from $145 million to $152 million.
Fiscal 2026 capital expenditures guidance was lowered to approximately $80 million, down from the prior range of $85 million to $95 million.
Fiscal 2026 share repurchase guidance remains up to $50 million, depending on market conditions.

The company operates 219 restaurants as of the end of the third quarter, with no new restaurants opened during the period.
Management highlighted continued investment in menu innovation, specifically mentioning signature deep-dish pizzas and the Pizookie® dessert.
The company noted its status as the most decorated restaurant-brewery in the country, having earned over 270 medals since 1996.

The company reported nine consecutive quarters of sales and traffic growth, with both metrics up approximately 8% in the third quarter.
The company operates in a competitive casual dining and brewery industry, with a significant concentration of restaurants in California, Texas, and Florida.

Potential risks include rising costs related to tariffs, energy, labor, construction, and other operational expenses.
Challenges include wage inflation, competitive labor market conditions, staffing shortages, and union organizing efforts.
Risks also encompass construction delays, inability to secure acceptable sites, and government regulations including beer and liquor licensing.
The company faces risks related to food quality, health concerns, supply chain disruptions, and fluctuations in commodity costs for food and brewing raw materials.
Specific risks include the impact of credit and equity market disruptions on financing expansion and potential uninsured losses.

CEO Lyle Tick expressed confidence in the company's strategic growth drivers and described the quarter as "another strong quarter."
Management emphasized an eighth consecutive quarter of profit growth and a 220 basis point year-over-year increase in restaurant level operating profit margin.
Future strategy includes investing in team members, enhancing the guest experience, and ensuring restaurants remain places where teams are proud to work.

The company repurchased and retired approximately 17,000 shares of common stock at a cost of approximately $1.0 million during the quarter.
As of November 5, 2026, approximately $84.5 million remained available under the authorized share repurchase program.
An investor conference call and webcast were scheduled for November 5, 2026, at 1:30 p.m. Pacific Time.
The company recorded $2.2 million in stock-based compensation expense for the quarter, representing 0.6% of total revenues.