BJ's Restaurants (BJRI) Q4 2024 earnings summary

Executive summary

• Q4 2024 delivered strong comparable restaurant sales growth of 5.5%, driven by increased guest traffic and successful promotions, with all day parts and channels outperforming industry benchmarks.

• Q4 2024 revenue rose 6.4% year-over-year to $344.3 million; full-year 2024 revenue reached $1.4 billion, up 1.8%.

• Adjusted EBITDA for Q4 was $33.1 million, up 21% from the prior year, with a margin of 9.6%; full-year Adjusted EBITDA rose 12.8% to $117.1 million.

• Adjusted diluted EPS for Q4 was $0.47, up 5.1% year-over-year; GAAP diluted EPS was a loss of $0.23 due to non-recurring items.

• Management highlights improved margins, strong cash flow, and a healthy balance sheet positioning the brand for accelerated growth.

Financial highlights

• Q4 restaurant-level operating profit was $52.9 million (15.4% margin), up 13.8% and 100 basis points year-over-year.

• Full-year restaurant-level operating profit was $195.6 million (14.4% margin), up 10% and 110 basis points year-over-year.

• Q4 net loss was $5.3 million; full-year net income was $16.7 million.

• Q4 and full-year adjusted diluted EPS exclude asset impairment, leadership transition, and warrant extension costs.

• Q4 share repurchases totaled $8 million (234,000 shares); full-year repurchases were $25.1 million (757,000 shares).

Outlook and guidance

• 2025 guidance: comparable sales growth of 2–3%, restaurant-level operating profit of $205–$215 million, Adjusted EBITDA of $127–$137 million.

• Q1 2025 comp sales expected near 2%, with improvement anticipated as weather headwinds moderate.

• 2025 capital expenditures expected at $65–$75 million, including one new restaurant opening and up to 30 remodels.

• Share repurchases of $40–$50 million planned for 2025, with $83 million available under the program.