BJ's Wholesale Club Q4 Results Climb, Top Estimates; Sees Flat EPS In FY23, Growth In Long Term

(RTTNews) - BJ's Wholesale Club Holdings Inc. (BJ) reported Thursday that its fourth-quarter net income grew 20.7 percent to $129.78 million from last year's $107.57 million.

Earnings per share were $0.95, a growth of 21.8 percent from last year's $0.78.

Adjusted net income was $136.69 million or $1 per share, compared to prior year's $109.91 million or $0.80 per share.

On average, 19 analysts polled by Thomson Reuters expected earnings of $0.87 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew 13.1 percent to $4.93 billion from prior year's $4.36 billion. Net sales were $4.83 billion, a growth of 13.2 percent from last year's $4.26 billion.

Analysts expected revenues of $4.8 billion for the quarter.

Total comparable club sales increased 9.8 percent in the fourth quarter compared to the same period in 2021. Excluding the impact of gasoline sales, comparable club sales increased 8.7 percent.

Looking ahead for fiscal 2023, the company projects earnings per share to remain approximately flat year-over-year, including the 53rd week benefit of low-teens cents per share.

Comparable club sales, excluding the impact of gasoline sales, would increase 4 percent to 5 percent year-over-year.

Laura Felice, Executive Vice President, Chief Financial Officer, BJ's Wholesale Club, said, "We look ahead to fiscal 2023 with the understanding that there is still significant uncertainty in the macroeconomic backdrop as well as its influence on the U.S. consumer."

Over the long term, the company projects earnings per share growth of high-single to low-double digit percent, total revenue growth of mid-single digit percent, and comparable club sales growth of low-to-mid single digit percent, excluding the impact of gasoline sales.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.