Bj's Restaurants, Inc. (BJRI) Tops Q1 EPS by 8c

Bj's Restaurants, Inc. (NASDAQ: BJRI) reported Q1 EPS of $0.36, $0.08 better than the analyst estimate of $0.28. Revenue for the quarter came in at $225.1 million versus the consensus estimate of $226.63 million.

"The continued success from our sales driving initiatives combined with our cost containment programs and efficiencies derived from Project Q resulted in a solid start to fiscal 2015 and record first quarter results," commented Greg Trojan, President and CEO. "The 3.2% increase in first quarter comparable restaurant sales is our third consecutive quarter of positive comparable sales as our new menu offerings and food innovation combined with our focus on affordability, speed and hospitality are being well received by guests."

Trojan continued, "Importantly, our restaurant operators continue improving the guest experience through Project Q while simultaneously driving cost efficiencies. As a result, we again achieved solid leverage on our positive comparable restaurant sales and generated first quarter four-wall restaurant level operating margins of 18.9%, marking a 180 basis point improvement from the prior year's first quarter. In addition, we continue to leverage our general and administrative expenses and depreciation and amortization through our cost management initiatives, new restaurant growth and lower depreciation from our more cost-effective new restaurant prototype. This resulted in significant growth in our consolidated income from operations margin to 5.8%, representing a 300 basis point year-over-year gain. We believe the strength of our model and operating leverage position us well for continued financial growth in 2015."

For earnings history and earnings-related data on Bj's Restaurants, Inc. (BJRI) click here.

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