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BJ’s Wholesale Club Earnings: BJ Stock Ticks 1% Higher on Q2 Beats

BJ’s Wholesale Club (NYSE:BJ) earnings for the retail company’s second quarter of 2020 have BJ stock up on Thursday. That’s due to its adjusted earnings per share of 77 cents, which is better than Wall Street’s estimate of 60 cents. Its revenue of $3.95 billion also comes in above analysts’ estimate of $3.74 billion.

A BJ's Wholesale Club (BJ) logo on the front of one of its stores

Source: Helen89 / Shutterstock.com

Here are some additional highlights from the most recent BJ’s Wholesale Club earnings report.

  • Adjusted per-share earnings are up 97.4% from 39 cents during the same time last year.
  • Revenue for the quarter comes in 18.2% higher than the $3.35 billion reported in Q2 2019.
  • Operating income of $163.6 million is a 65.7% increase year-over-year from $98.74 million.
  • The BJ’s Wholesale Club earnings also have net income coming in at $106.62 million.
  • That’s a 95.5% jump from the company’s net income of $54.52 million reported in the same period of the year prior.

Lee Delaney, president and CEO of BJ’s Wholesale Club, said this about the results.

“We delivered another remarkable quarter with strong comp growth and record profitability. Our business has been transformed and strengthened in the last six months by every measure. We are extremely well positioned to continue to win as we invest in digital capabilities, membership, assortment, marketing and geographic expansion to further accelerate this transformation.”

BJ’s Wholesale Club doesn’t include guidance in its current earnings report. That’s no surprise with the novel coronavirus making markets hard to predict. Many other companies are withholding outlooks at this time.

BJ stock was up 1.4% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/08/bjs-wholesale-club-earnings-push-bj-stock-up/.

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