BJRI · BJ's Restaurants, Inc.

BJ's Restaurants delivered strong fiscal second quarter 2026 results, with total revenues increasing 6.4% to $388.9 million, driven by a 6.5% comparable restaurant sales increase that was fueled by 8.3% traffic growth. Restaurant level operating profit rose 7.6% to $66.8 million, with margin expanding 20 basis points to 17.2%, reflecting efficient cost management despite inflationary pressures. Adjusted EBITDA grew 5.5% to $44.4 million, and adjusted diluted EPS came in at $0.94. However, GAAP net income declined to $18.8 million from $22.2 million in the prior year, primarily due to $2.9 million in incremental G&A costs related to deferred compensation, legal, and leadership transition expenses, as well as higher loss on disposal and impairment. The company raised its full-year fiscal 2026 guidance: comparable restaurant sales growth now expected at 3% to 4% (up from 1-3%), restaurant level operating profit of $228-235 million (from $221-233 million), and Adjusted EBITDA of $145-152 million (from $140-150 million). Capital expenditure outlook remained unchanged at $85-95 million. On the capital return front, BJ's repurchased approximately 64,000 shares for $2.4 million in Q2, leaving $85.5 million under its existing buyback authorization. Management commentary highlighted the eighth consecutive quarter of sales and traffic growth, attributing success to the company's strategic pillars and ability to outperform casual dining benchmarks. The raised guidance signals confidence in sustained momentum, though investors should monitor the impact of tariff and cost inflation risks noted in forward-looking statements.