Yahoo Finance What's in Store for BJ's Restaurants (BJRI) in Q1 Earnings?
BJ’s Restaurants, Inc. BJRI is likely to report a decline in earnings when it releases the first-quarter 2023 results. In the last reported quarter, BJRI’s earnings surpassed the Zacks Consensus Estimate by 142.9%.
How Are Estimates Placed?
The Zacks Consensus Estimate for earnings is pegged at 2 cents per share, implying a year-over-year decline of 66.7%.
For revenues, the consensus mark is pegged at $331.9 million, suggesting an increase of 11.1% from the prior-year quarter’s reported value.
Let’s analyze the factors that are likely to have impacted this earnings season.
Factors at Play
BJ's Restaurants’ first-quarter top line is likely to have been aided by robust comparable restaurant sales growth and technology-driven initiatives. Our model predicts comparable restaurant sales growth of 8.2%, aided by a rise in the dining room guest traffic and incremental menu pricing.
BJRI has been gaining from its new restaurant openings in Las Vegas and Nevada. The restaurant’s remodel initiatives have provided continuous growth in sales and investment prospects.
However, BJ’s Restaurants has been consistently bearing increased expenses, which have been affecting margins of late. Higher food inflationary costs, marketing expenses and costs related to sales-boosting initiatives are weighing on the company’s margins. We expect cost of sales, labor and benefits, and occupancy and operating expenses to increase 5.2%, 5.5% and 11.2% year over year, respectively.
BJ's Restaurants, Inc. Price and EPS Surprise
BJ's Restaurants, Inc. price-eps-surprise | BJ's Restaurants, Inc. Quote
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for BJ's Restaurants this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: BJ's Restaurants has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: BJ's Restaurants has a Zacks Rank #3.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Retail - Restaurants industry that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat in the quarter to be reported.
Chipotle Mexican Grill, Inc. CMG currently has an Earnings ESP of +1.33% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
CMG’s earnings beat the consensus mark in three of the last four quarters and missed once. It has a trailing four-quarter earnings surprise of 0.5%, on average.
Starbucks Corporation SBUX has an Earnings ESP of +2.73% and a Zacks Rank #3 at present.
SBUX’s earnings beat the consensus mark in two of the last four quarters and missed twice. It has a trailing four-quarter earnings surprise of 4%, on average.
The Wendy's Company WEN currently has an Earnings ESP of +4.48% and a Zacks Rank #3.
WEN’s earnings beat the consensus mark in three of the last four quarters and missed once. It has a trailing four-quarter positive earnings surprise of 4.5%, on average. Earnings for the to-be-reported quarter are expected to increase 17.7% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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BJ's Restaurants, Inc. (BJRI) : Free Stock Analysis Report
Starbucks Corporation (SBUX) : Free Stock Analysis Report
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
The Wendy's Company (WEN) : Free Stock Analysis Report
