BJ’s Wholesale Club (NYSE:BJ) earnings for first quarter of 2020 have BJ stock taking off on Thursday. That comes after reporting adjusted earnings per share (EPS) of 69 cents, which is well above Wall Street’s estimate of 34 cents. Its revenue of $3.8 billion also blows past analysts’ estimates of $3.31 billion.
Now, let’s take a look at some additional highlights from the most recent BJ’s Wholesale Club earnings report.
- Adjusted per-share earnings are 165.4% from 26 cents in the first quarter of 2019.
- Revenue for the quarter comes in 20.8% higher than the $3.14 billion reported during the same period of the year prior.
- Operating income of $143.75 million is a 103.4% increase year-over-year from $70.68 million.
- The BJ’s Wholesale Club earnings report also has it bringing in a net income of $95.73 million.
- That’s a 167.4% jump over its net income of $35.8 million from the same time last year.
Lee Delaney, president and CEO of BJ’s Wholesale Club, said this about the Q1 earnings:
“While the coronavirus pandemic increased demand for our services, our team’s hard work and the capabilities we have built over the last four years have enabled us to thrive and deliver very strong merchandise comparable sales. Furthermore, we drove earnings and cash flow growth and invested in our team members and our business. These efforts will allow us to continue to build on this momentum and position ourselves for success over the long-term.”
BJ’s Wholesale Club doesn’t discuss guidance in its current earnings report. That makes sense with the novel coronavirus making markets unreliable. Many other companies are withholding outlooks during the pandemic.
BJ stock ended the day Thursday up 21.7%.
As of this writing, William White did not hold a position in any of the aforementioned securities.