- BJ’s Wholesale (NYSE:BJ) stock beat out estimates for Q1.
- That includes adjusted earnings per share of 87 cents.
- It also posted revenue of $4.5 billion.
BJ’s Wholesale (NYSE:BJ) stock is on the rise Thursday as the retail company posts a positive first-quarter earnings report despite increasing inflation.
The good news for BJ stock starts with its adjusted earnings per share of 87 cents. That’s above the 71 cents per share that Wall Street was estimating for the quarter. It also represents a growth of 20.8% compared to the 72 cents reported during the same time last year.
In addition to that, the retailer’s revenue of $4.5 billion is also lifting BJ stock higher today. That’s better than the $4.24 billion that analysts were looking for this quarter. Plus, it’s a 16.2% increase year-over-year from $3.87 billion.
Laura Felice, executive vice president and CFO of BJ’s Wholesale, also said the following about the company’s outlook in the earnings report.
“We are pleased with our performance in the first quarter and remain optimistic that the strength of our core business will continue to drive long-term growth. Our fiscal year 2022 EPS outlook of flat year-over-year remains unchanged.”
Trading of BJ stock is off to a strong start today following its surprising earnings beat. As of this writing, more than 1.5 million shares of the stock have changed hands. That’s on track to surpass the company’s daily average trading volume of about 1.9 million shares.
BJ stock is up 7.9% as of Thursday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.