BJ's Wholesale Club Boosts FY22 Outlook As Q3 Results Top Estimates
(RTTNews) - BJ's Wholesale Club Holdings Inc. (BJ) announced Thursday that net income for the third quarter grew to $129.94 million or $0.95 per share from $126.52 million or $0.92 per share in the prior-year quarter.
Excluding items, adjusted net income was $0.99 per share, compared to $0.91 per share in the year-ago quarter.
Total revenues for the quarter increased 12.2 percent to $4.79 billion from $4.26 billion in the same quarter last year.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share on revenues of $4.69 billion for the quarter. Analysts' estimates typically exclude special items.
Net sales grew 12.3 percent to $4.69 billion and membership fee income increased 8.7 percent to $99.5 million from last year. Digitally-enabled sales growth was 43 percent.
Total comparable club sales increased 9.7 percent. Comparable club sales, excluding the impact of gasoline sales, grew 5.3 percent.
Looking to fiscal 2023, the company raised earnings guidance to a range of $3.70 to $3.80 per share from prior guidance range of $3.50 to $3.60 per share. The Street is looking for earnings of $3.61 per share for the year.
The company also now expects comparable club sales growth, excluding the impact of gasoline sales, to be in the 5.0 to 5.5 percent range, up from original guidance in the 4 to 5 percent range.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
BJ's Wholesale Q2 Results Top Estimates; Reaffirms FY24 Outlook
CPSC Recalls: Gazebos, Mowers, Power Banks, Coffee Makers, Candles, Baby Loungers
BJ's Wholesale Expands Same-day Delivery Service To Include Big-ticket Items
BJ's Wholesale Q4 Adj. EPS Tops Estimates, But Revenues Miss
BJ's Wholesale Club Q3 Results Top Estimates; Backs FY23 EPS Outlook
Lowe's, BJ's Wholesale, DICK's Sporting Report Q1 Profits
BJ's Wholesale Club Appoints President And CEO Bob Eddy As Chairman
