BJ's Wholesale Club (BJ) Tops Q1 EPS by 15c, Revenues Beat

BJ's Wholesale Club (NYSE: BJ) reported Q1 EPS of $0.72, $0.15 better than the analyst estimate of $0.57. Revenue for the quarter came in at $3.78 billion versus the consensus estimate of $3.62 billion.

• Comparable club sales, excluding gasoline sales, decreased by 5.0% year-over-year, reflecting a two-year stacked comp club sales of 22.0% for the first quarter of fiscal 2021.
• Digitally-enabled sales growth was 31%, reflecting a two-year stacked comp growth of 381% for the first quarter of fiscal 2021.
• Income from continuing operations decreased 14.8% year-over-year to $81.6 million for the first quarter of fiscal 2021.
• Adjusted EBITDA increased 4.4% year-over-year to $202.4 million for the first quarter of fiscal 2021.
• Earnings per diluted share of $0.59 reflect 14.5% year-over-year decline.
• Adjusted earnings per diluted share of $0.72 reflects 4.3% year-over-year growth.
• Net cash provided by operating activities was $249.0 million and free cash flow was $190.9 million for the first quarter of fiscal 2021.

"Our team members continue to execute at the highest levels and I’m proud of their hard work and dedication amid a difficult environment. We are pleased to start the year with strong first quarter results, powered by solid execution, market share retention and a continuation of elevated consumer spending," said Bob Eddy, President and Chief Executive Officer, BJ’s Wholesale Club. "As we look ahead, we are confident our business will continue to thrive over the long-term given structural shifts in consumer behavior, the progress we made over the last year and our continued investments in our strategic priorities."

Fiscal 2021 Ending January 29, 2022 Outlook

"Given the level of uncertainty associated with the evolution of the pandemic and consumer behavior, fiscal 2021 remains difficult to forecast," said Laura Felice, Executive Vice President, Chief Financial Officer, BJ's Wholesale Club. "As a result, we will continue to refrain from offering formal detailed guidance."

For earnings history and earnings-related data on BJ's Wholesale Club (BJ) click here.

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