10-K · March 2, 2026
BJ’s positions itself as a differentiated full-service restaurant chain focused on a high-energy dining experience, proprietary craft beer and a ‘Gold Standard of Operational Excellence’ while pursuing restaurant…
Earnings analysis · 10-Q
BJRI earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
BJ's Restaurants, Inc. reported a modest revenue increase of 2.9% in Q1 2026, totaling $358.1 million, while diluted EPS came in at $0.57, falling short of consensus estimates. The company maintained a comparable…
Read full summary
BJ's Restaurants, Inc. reported a modest revenue increase of 2.9% in Q1 2026, totaling $358.1 million, while diluted EPS came in at $0.57, falling short of consensus estimates. The company maintained a comparable restaurant sales growth of 2.4%, but faced challenges with rising costs, leading to a decline in operating profit margins and increased depreciation and amortization expenses.
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
- $0.57
- Operating margin
- 3.0%
What stood out
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Revenue Growth
Total revenue increased by $10.1 million, or 2.9%, from $348 million in Q1 2025.
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Comparable Sales Growth
Comparable restaurant sales grew by 2.4%, contributing $8.1 million to revenue.
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Strong Operating Cash Flow
Net cash provided by operating activities rose to $42.983 million, up from $4.621 million in Q1 2025.
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Cost Management Improvements
Despite increased costs, occupancy and operating expenses as a percentage of revenues decreased to 22.7% from 23.0%.
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Reduction in Interest Expense
Interest expense decreased to $1.1 million from $1.2 million year-over-year.
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Reiterated Financial Outlook
The company reiterated its guidance for 2026 with comparable restaurant sales growth between 1% and 3%.
What to watch
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Declining Operating Margin
Operating margin fell to 3.0% from 4.3% year-over-year, indicating profitability challenges.
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Increased Depreciation Costs
Depreciation and amortization expenses rose by 24.8%, increasing to $22.8 million in Q1 2026.
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Inventory and Working Capital Issues
Net working capital worsened, decreasing to -$133.088 million from -$112.850 million.
Management's outlook
Management expects comparable restaurant sales growth of 1% to 3% and total restaurant operating profit of $221 million to $233 million for 2026.
Earlier filings 4
10-Q · November 5, 2025
BJ’s reported quarterly revenue of $330,157,000, up $4,455,000 (≈1.4%) versus the year-ago quarter, with gross margin roughly stable at ~74.3%. The quarter produced a small GAAP net income of $465,000 (diluted EPS…
10-K · February 26, 2025
BJ’s Restaurants positions itself as a differentiated full-service concept focused on a high-energy atmosphere, a broad menu and award-winning proprietary craft beer while pursuing national expansion and restaurant…
10-Q · May 6, 2024
BJ’s reported revenue of $337,334,000 for the thirteen weeks ended April 2, 2024, down slightly from $341,280,000 a year earlier, while operating income improved to $8,258,000 (from $2,616,000) and net income rose to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.