BJ’s Restaurants, Inc. Reports Fiscal Fourth Quarter and Fiscal Year 2024 Results

About this update from Bj's Restaurants, Inc.

[{"type":"text","content":"Provides 2025 Financial Outlook; Announces $50 Million Increase in Share Repurchase Authorization\nHUNTINGTON BEACH, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its fiscal 2024 fourth quarter and year ended Tuesday, December 31, 2024. Fiscal Fourth Quarter 2024 Compared to Fourth Quarter 2023, as applicable Total revenue increased 6.4% to $344.3 millionComparable restaurant sales increased 5.5%Diluted net loss per share was $0.23, a decrease from diluted net income per share of $0.34Adjusted diluted net income per share(1) was $0.47, an increase of 5.1% from $0.45Restaurant level operating profit(1) was $52.9 million, an increase of 13.8%, with restaurant level operating profit margin of 15.4%, an increase of 100 basis pointsAdjusted EBITDA(1) was $33.1 million, an increase of 21.1% from $27.3 millionThe Company repurchased and retired approximately 234,000 shares of its common stock at a cost of approximately $8.0 million Fiscal 2024 Compared to Fiscal 2023, as applicable Total revenues increased 1.8% to $1.4 billionComparable restaurant sales increased 1.2%Diluted net income per share was $0.70, a 14.6% decrease from $0.82Adjusted diluted net income per share(1) was $1.47, a 36.5% increase from $1.08Restaurant level operating profit(1) was $195.6 million, an increase of 10.0%, with restaurant level operating profit margin of 14.4%, an increase of 110 basis pointsAdjusted EBITDA(1) was $117.1 million, an increase of 12.8% from $103.8 millionThe Company repurchased and retired approximately 757,000 shares of its common stock at a cost of approximately $25.1 million (1) Adjusted diluted net income per share, restaurant level operating profit and Adjusted EBITDA are non-GAAP measures. Reconciliations to GAAP measures and further information are set forth below. “Our fourth quarter results reflect significant progress in our efforts to drive sales and improve margins,” commented Brad Richmond, Interim Chief Executive Officer. “We achieved a 6.4% increase in revenue and a 5.5% increase in comparable restaurant sales, driven primarily by increases in guest traffic, which was positive across all dayparts and channels. Sales-driving initiatives, such as the Pizookie Meal Deal promotion and holiday large party offerings, resonated well with guests and were accelera...

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