10-Q · May 28, 2026
BJ's Wholesale Club reported strong Q1 FY2026 results with net sales of $5.53 billion, a 9.9% increase compared to the prior year, and a diluted EPS of $1.10, slightly exceeding estimates. The company faced margin…
Earnings analysis · 10-Q
BJ earnings analysis
Filed August 25, 2026 · Our reading of the company's report
The latest report
BJ's reported fiscal Q2 revenue of $6.227 billion and diluted EPS of $1.36, exceeding consensus estimates of $5.715 billion and $1.19. Management raised fiscal 2026 adjusted EPS guidance to $4.60-$4.80 while maintaining…
Read full summary
BJ's reported fiscal Q2 revenue of $6.227 billion and diluted EPS of $1.36, exceeding consensus estimates of $5.715 billion and $1.19. Management raised fiscal 2026 adjusted EPS guidance to $4.60-$4.80 while maintaining 2.0%-3.0% ex-gas comparable-sales guidance, although the company expects approximately $800 million of capital expenditures. The principal quantified balance-sheet risk is variable-rate debt of $630.0 million, with a 100-basis-point rate move affecting annual interest costs by approximately $6.3 million.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.36
What stood out
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Revenue and EPS beat consensus
Fiscal Q2 revenue was $6.227 billion and diluted EPS was $1.36, ahead of consensus estimates of $5.715 billion and $1.19, respectively.
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Full-year EPS outlook raised
Management raised fiscal 2026 adjusted EPS guidance to $4.60-$4.80 and maintained its 2.0%-3.0% comparable club-sales outlook excluding gasoline.
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Continued investment planned
The company expects capital expenditures of approximately $800 million, indicating continued investment in club growth and operations.
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Controls remain effective
Management concluded that disclosure controls were effective at the reasonable assurance level as of August 1, 2026, and reported no material changes to internal controls during the quarter.
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Share repurchases continued
BJ's repurchased 1,384,278 shares under its public program during the quarter, with $422.084 million remaining available under the authorization.
What to watch
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Variable-rate debt exposure
Total debt was $630.0 million as of August 1, 2026, consisting of $230.0 million under the ABL Revolving Facility and $400.0 million under the First Lien Term Loan. Substantially all borrowings carry variable rates.
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Interest expense sensitivity
A 100-basis-point change in prevailing market rates would change annual interest costs by approximately $6.3 million, creating sensitivity in earnings and operating cash flow.
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No material risk-factor updates
The filing states that there were no material changes to the risk factors disclosed in the fiscal 2025 Form 10-K; therefore, no new quantified risk-factor change was identified in this 10-Q.
Management's outlook
Fiscal 2026 adjusted EPS outlook was raised to $4.60-$4.80. Comparable club sales excluding gasoline guidance was maintained at 2.0%-3.0%, and capital expenditures are expected to be approximately $800 million.
Earlier filings 4
10-K · March 12, 2026
BJ’s 10‑K reiterates a membership‑driven warehouse club strategy concentrated in the eastern U.S., highlighting scale (263 clubs, 199 gas stations) and over 8 million paid members as the core economic moat. Management…
10-Q · May 29, 2025
BJ’s reported first-quarter total revenues of $5,153,483 and net income of $149,768, with diluted EPS of $1.13 for the thirteen weeks ended May 3, 2025, up versus the prior-year quarter. Gross margin was roughly 18.8%…
10-K · March 14, 2025
BJ’s highlights a value‑based, membership‑driven warehouse club model concentrated in the eastern U.S., with 250 clubs and 186 gas stations and over 7.5 million paid members. Management is leaning on membership fee…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.