BJs RESTAURANTS INC (BJRI) · Nov 5, 2026 · Earnings

BJ’s earnings beat as sales surge, guidance rises

Beat — Adjusted EPS $0.33 vs ~$0.17 consensus; revenue $358.6M vs ~$346.7M

BJ’s earnings beat expectations on strong traffic and margin gains, prompting another increase to 2026 sales, profit and EBITDA guidance.

BJ’s is a 219-unit casual-dining chain trying to turn sustained traffic growth, menu innovation and better operating discipline into durable margin expansion; its prior results had already shown accelerating same-store sales and traffic momentum.

The quarter materially exceeded the published bar. Revenue reached $358.6 million versus a published consensus of about $346.7 million, while adjusted diluted EPS was $0.33 versus roughly $0.17 expected. The revenue beat was paired with 8.1% comparable-sales growth, not just pricing or new-unit growth. 〔0〕

MetricCurrentComparisonConsensus / prior guidance
Revenue (Financial Statements)$358.6M (+8.6%)$330.2M~$346.7M
Diluted EPS (Financial Statements)$0.24$0.02~$0.17
Adjusted diluted EPS (Adjusted EPS reconciliation)$0.33$0.04—
Comparable restaurant sales (Operating Data)8.1%0.5%—
Restaurant-level profit margin (Restaurant-level profit)14.7%12.5%—
Adjusted EBITDA (Adjusted EBITDA reconciliation)$31.4M (+48.6%)$21.1M—
FY2026 comparable sales (2026 Financial Outlook)~4.7%—3.0%-4.0%
FY2026 restaurant-level profit (2026 Financial Outlook)$233M-$237M—$228M-$235M
FY2026 adjusted EBITDA (2026 Financial Outlook)$149M-$154M—$145M-$152M
FY2026 capital expenditures (2026 Financial Outlook)~$80M—$85M-$95M

This was broad-based operating improvement, not merely a headline EPS beat. Restaurant-level operating profit rose 27.9% and margin expanded 220 basis points to 14.7%, while adjusted EBITDA climbed 48.6%. That matters because BJ’s standing story is a turnaround-like effort to convert traffic into profit; this quarter shows that conversion is happening faster than the prior outlook assumed.

The guidance raise confirms the strength is carrying into the full year. BJ’s lifted comparable-sales guidance to approximately 4.7%, raised the profit and EBITDA ranges, and reduced expected capital spending to about $80 million. The company is therefore expecting better operating output with less planned investment than it forecast in July, while leaving the share-repurchase authorization unchanged at up to $50 million.

The result strengthens an already improving trajectory rather than rewriting the business. Management says this was the ninth consecutive quarter of sales and traffic growth and the eighth consecutive quarter of profit growth. 〔1〕 The business still has only 219 restaurants and reported lower nine-month GAAP net income than last year, partly reflecting impairment and other adjustments, so this is a strong acceleration of the current story—not a completely new one.

Bottom line: BJ’s delivered a clear earnings beat and another guidance raise, with traffic growth now translating into meaningful margin expansion. It materially strengthens the execution story, though it does not yet represent a wholesale change in the company’s business model or scale trajectory.

What to watch next

Fourth-quarter earnings report

Original filing on SEC EDGAR

More BJs RESTAURANTS INC news

BJ’s earnings beat as sales surge, guidance rises | BJRI Stock News
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