BJ’s Restaurants reports Q4 EPS 34c, consensus 28c

Reports Q4 revenue $323.64M, consensus $329.59M. Comparable restaurant sales increased 0.6% in Q4. “BJ’s solid fourth quarter results demonstrate the operational excellence being delivered in our restaurants and the significant progress we are making with productivity and margin enhancement initiatives,” commented Greg Levin, CEO and president. “Restaurant margins improved by 150 basis points year-over-year to 14.4% in the fourth quarter, despite industry-wide consumer softness beginning in November. Our menu simplification is delivering its anticipated benefits of improved labor efficiencies and higher team member retention. Moreover, BJ’s positive third-party service and food sentiment scores improved meaningfully in the fourth quarter, demonstrating that we are delivering tangible benefits to our guests’ experience with our simplified menu, more tenured restaurant team members, and our relentless drive to provide an unmatched level of gracious hospitality. We continue to focus on a variety of initiatives aimed at increasing guest traffic and driving sales, as well as realizing benefits from our cross-functional cost savings initiatives, which are improving operating margins without compromising the gold standard of operational excellence for which BJ’s has come to be known,” continued Levin.