BJ’s Restaurants gains on positive traffic and margin expansion

BJ’s Restaurants (NASDAQ:BJRI) delivered a robust first-quarter performance, outperforming industry trends with positive guest traffic and expanding restaurant-level margins.

The Huntington Beach-based chain’s ability to drive volume in a cautious consumer environment provided a stable foundation for its 2026 fiscal year.

Total revenues for the quarter ended March 31, 2026, rose 2.9% to $358.1 million.

The growth was spearheaded by a 2.4% increase in comparable restaurant sales, which notably included a 2.2% jump in guest traffic—a metric that has remained a challenge for much of the casual dining sector.

The company’s profitability also showed improvement, as restaurant-level operating profit reached $57.2 million, yielding a 16% margin.

Diluted earnings per share for the quarter was $0.41, while adjusted diluted EPS, which excludes certain one-time items, came in at $0.57.

Adjusted EBITDA for the period was $37.7 million.

During the quarter, BJ’s remained committed to its capital allocation strategy, repurchasing approximately 151,000 shares for $5.3 million.

As of the end of March, the company maintained a significant buyback capacity with approximately $85.6 million remaining available under its current authorization.

Looking ahead, management reiterated its full-year fiscal 2026 guidance, signaling steady expectations for the remainder of the year.

The company expects comparable sales growth between 1% and 3% and restaurant-level operating profit in the range of $221 million to $233 million.