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BJ’s Restaurants, Inc. Reports Fiscal Fourth Quarter and Fiscal Year 2025 Results

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BJ’s Restaurants (NASDAQ: BJRI) reported fiscal 2025 results and issued 2026 guidance. Fiscal 2025 total revenue was $1.4 billion (up 3.1%), with comparable restaurant sales +2.0% and diluted net income per share of $2.16 (vs. $0.70). Adjusted EBITDA was $134.1 million.

Q4 revenue was $355.4 million, comparable sales +2.6%, adjusted diluted EPS $0.66, and the company repurchased ~2.0 million shares in 2025. 2026 outlook: comparable sales +1%–3%, restaurant level operating profit $221M–$233M, Adjusted EBITDA $140M–$150M, and capex $85M–$95M.

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Positive

  • Total revenue +3.1% to $1.4 billion
  • Comparable restaurant sales +2.0% for fiscal 2025
  • Adjusted EBITDA $134.1M, up 14.5%
  • Adjusted diluted EPS $2.26, up 46.8%
  • Share repurchases $67.8M retired ~2.0M shares in 2025

Negative

  • 2026 comparable sales guidance only 1%–3%
  • 2026 share repurchase plan capped at $50M
  • Planned $85M–$95M capital expenditures for 2026

Key Figures

Q4 2025 total revenue: $355.4 million Q4 2025 diluted EPS: $0.58 Q4 2025 adjusted EPS: $0.66 +5 more
8 metrics
Q4 2025 total revenue $355.4 million Fiscal Q4 2025, up 3.2% year-over-year
Q4 2025 diluted EPS $0.58 From diluted net loss per share of $0.23 in Q4 2024
Q4 2025 adjusted EPS $0.66 Up 39.2% from $0.47 in Q4 2024
FY 2025 total revenue $1.4 billion Fiscal 2025, up 3.1% year-over-year
FY 2025 diluted EPS $2.16 Up 207.3% from $0.70 in fiscal 2024
FY 2025 adjusted EBITDA $134.1 million Up 14.5% from $117.1 million in fiscal 2024
2026 adjusted EBITDA outlook $140–$150 million Management’s fiscal 2026 guidance range
2026 capex outlook $85–$95 million Projected fiscal 2026 capital expenditures

Market Reality Check

Price: $40.38 Vol: Volume 342,224 is 16% abo...
normal vol
$40.38 Last Close
Volume Volume 342,224 is 16% above 20-day average 294,749. normal
Technical Price $40.38 is trading above 200-day MA at $38.38 and 14.1% below the 52-week high.

Peers on Argus

Key restaurant peers BLMN, FWRG, KRUS, PTLO and CBRL all traded lower (e.g., FWR...
1 Up

Key restaurant peers BLMN, FWRG, KRUS, PTLO and CBRL all traded lower (e.g., FWRG -9.68%, PTLO -10.87%), while BJRI slipped -0.81%, pointing to both stock-specific earnings and broader group weakness.

Common Catalyst At least one peer (BLMN) also reported earnings today, suggesting a broader earnings news cycle in the restaurant group.

Previous Earnings Reports

5 past events · Latest: Oct 30 (Positive)
Same Type Pattern 5 events
Date Event Sentiment Move Catalyst
Oct 30 Q3 2025 earnings Positive -4.6% Q3 2025 revenue, comps and profitability improved with buybacks continuing.
Jul 31 Q2 2025 earnings Positive -3.6% Strong Q2 2025 revenue, comps, EPS and margin gains plus repurchases.
May 01 Q1 2025 earnings Positive +13.2% Q1 2025 revenue, EPS and traffic outperformance with higher guidance.
Feb 20 Q4/FY 2024 earnings Positive +6.5% Q4 and 2024 growth with higher 2025 outlook and repurchase increase.
Oct 31 Q3 2024 earnings Negative -8.4% Q3 2024 comps up but losses and softer EBITDA pressured sentiment.
Pattern Detected

Earnings releases often show mixed reactions: 3 aligned vs 2 divergent moves, with several strong fundamental updates met by negative price responses.

Recent Company History

Recent BJRI earnings updates have generally shown revenue growth, improving restaurant-level margins and rising adjusted EBITDA, alongside active share repurchases. Prior quarters in 2025 delivered margin expansion and EPS improvement, with guidance for restaurant-level operating profit and adjusted EBITDA stepping up from 2024. Market reactions have been inconsistent, with both sharp gains (e.g., Q1 2025) and selloffs on otherwise positive reports. Today’s Q4/FY 2025 results and 2026 outlook extend that trajectory of modest sales growth, margin progress and ongoing capital returns.

Historical Comparison

+0.6% avg move · Across 5 prior earnings releases, BJRI’s average move was 0.62%. Today’s -0.81% post-Q4/FY 2025 reac...
earnings
+0.6%
Average Historical Move earnings

Across 5 prior earnings releases, BJRI’s average move was 0.62%. Today’s -0.81% post-Q4/FY 2025 reaction sits within that historical range but leans slightly weaker.

Earnings updates show a progression from 2024 guidance for 2025 growth to 2025 guidance reiterations and now a 2026 outlook with continued comparable sales growth, higher restaurant-level profit and increased adjusted EBITDA targets.

Market Pulse Summary

This announcement highlights steady fiscal 2025 growth, with higher revenues, expanding restaurant-l...
Analysis

This announcement highlights steady fiscal 2025 growth, with higher revenues, expanding restaurant-level margins and substantial EPS and adjusted EBITDA gains, alongside active share repurchases. The new 2026 outlook adds visibility on comparable restaurant sales, restaurant-level operating profit, adjusted EBITDA and capital spending. Historically, BJRI’s earnings reports have produced mixed price reactions despite generally improving fundamentals. Investors tracking this story may focus on how future quarters align with the 2026 guidance ranges, ongoing traffic trends, and the company’s continued use of share repurchases within its authorized capacity.

Key Terms

adjusted ebitda, non-gaap, basis points, comparable restaurant sales, +4 more
8 terms
adjusted ebitda financial
"Adjusted EBITDA(1) was $35.6 million, an increase of 7.4%..."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-gaap financial
"are non-GAAP measures. Reconciliations to GAAP measures..."
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
basis points financial
"margin of 16.1%, an increase of 70 basis points"
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.
comparable restaurant sales financial
"Comparable restaurant sales increased 2.6%"
Comparable restaurant sales measure how much revenue changed at locations that were open for a set prior period, excluding new or closed outlets, so it shows like-for-like sales performance. Investors use it as an 'apples-to-apples' gauge of customer demand, pricing power and operational health—rising comparable sales suggest stronger underlying business, while declines can signal weakening traffic or pricing issues even if overall revenue grows due to new openings.
diluted net income per share financial
"Diluted net income per share was $0.58..."
Diluted net income per share measures a company's profit attributable to each share of stock after accounting for all possible additional shares that could be created from options, convertible debt or other rights. Investors use it to see how earnings would be spread if every claim on the company converted to stock — like checking how big each slice of pie would be if more people showed up — which reveals true per-share profitability and dilution risk.
capital expenditures financial
"Capital expenditures of $85 million to $95 million"
Capital expenditures are the money a company spends to buy or improve big assets like buildings, equipment, or machines that will last a long time. These investments matter because they help the company grow and operate more efficiently, similar to how upgrading a home’s appliances or adding a new room can make it better and more valuable.
share repurchases financial
"Share repurchases up to $50 million, depending on market conditions"
Share repurchases occur when a company buys back its own shares from the open market. This process reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's future. For investors, share repurchases can be a sign that the company believes its stock is undervalued and may lead to higher share prices.
adjusted diluted net income per share financial
"Adjusted diluted net income per share(1) was $0.66..."
Adjusted diluted net income per share measures how much profit is attributable to each share after removing one-time or unusual items and using a share count that includes stock options, convertible securities and other potential shares. For investors it’s like measuring profit per slice of pie after smoothing out a one-off event and assuming the pie might be cut into more slices; this makes profitability easier to compare across companies and time periods.

AI-generated analysis. Not financial advice.

Issues 2026 Financial Outlook

HUNTINGTON BEACH, Calif., Feb. 25, 2026 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its fiscal 2025 fourth quarter and year ended December 30, 2025.
        
Fiscal Fourth Quarter 2025 Compared to Fourth Quarter 2024

  • Total revenues increased 3.2% to $355.4 million
  • Comparable restaurant sales increased 2.6%
  • Restaurant level operating profit(1) was $57.2 million, an increase of 8.2%, with restaurant level operating profit margin of 16.1%, an increase of 70 basis points
  • Diluted net income per share was $0.58, from diluted net loss per share of $0.23
  • Adjusted diluted net income per share(1) was $0.66, an increase of 39.2% from $0.47
  • Adjusted EBITDA(1) was $35.6 million, an increase of 7.4% from $33.1 million
  • The Company repurchased and retired approximately 167,000 shares of its common stock at a cost of approximately $5.4 million

(1) Adjusted diluted net income per share, restaurant level operating profit and Adjusted EBITDA are non-GAAP measures. Reconciliations to GAAP measures and further information are set forth below.

Fiscal 2025 Compared to Fiscal 2024

  • Total revenues increased 3.1% to $1.4 billion
  • Comparable restaurant sales increased 2.0%
  • Restaurant level operating profit(1) was $216.2 million, an increase of 10.6%, with restaurant level operating profit margin of 15.5%, an increase of 110 basis points
  • Diluted net income per share was $2.16, a 207.3% increase from $0.70
  • Adjusted diluted net income per share(1) was $2.26, an increase of 46.8% from $1.54
  • Adjusted EBITDA(1) was $134.1 million, an increase of 14.5% from $117.1 million
  • The Company repurchased and retired approximately 2.0 million shares of its common stock at a cost of approximately $67.8 million

(1) Adjusted diluted net income per share, restaurant level operating profit and Adjusted EBITDA are non-GAAP measures. Reconciliations to GAAP measures and further information are set forth below.

“During the fourth quarter, we continued to deliver on our mission to create a stronger and more consistent BJ’s with our 6th consecutive quarter of comparable restaurant sales and traffic growth along with our 5th consecutive quarter of restaurant level operating profit margin expansion,” commented Lyle Tick, Chief Executive Officer and President. “We continue to focus on putting the guest and team member experience at the center of everything we do. This, combined with strong and improving operational fundamentals, compelling value and product news, allowed us to increase traffic by over 4% during the quarter.

“Looking at the full year, I am proud of the progress we have made, thankful for the commitment and passion our teams bring every day and pleased with the results we delivered as we executed across all pillars of our strategic plan,” Tick continued. “As we look ahead to 2026, we will build on the progress we have made, guided by our four strategic priorities - Investing in Our People and Our Handcrafted Food and Beverage, Delivering WOW Hospitality, and Keeping Our Atmosphere Fresh. We believe these strategic priorities will continue to position BJ’s for sustainable growth and deliver long-term value to our shareholders,” concluded Tick.

Share Repurchase Program

During the fourth quarter of 2025, the Company repurchased and retired approximately 167,000 shares of its common stock at a cost of approximately $5.4 million. As of February 25, 2026, the Company had approximately $93.2 million available under its authorized share repurchase program.

2026 Financial Outlook

For fiscal 2026, management anticipates the following:

  • Comparable restaurant sales growth of 1% to 3%
  • Restaurant level operating profit of $221 million to $233 million
  • Adjusted EBITDA of $140 million to $150 million
  • Capital expenditures of $85 million to $95 million
  • Share repurchases up to $50 million, depending on market conditions

Actual results may differ materially from the 2026 Financial Outlook set forth above as a result of, among other things, the factors described under “Forward-Looking Statements Disclaimer” below.

Investor Conference Call and Webcast

BJ’s Restaurants, Inc. will conduct a conference call on its fourth quarter and fiscal year 2025 earnings release today, February 25, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Management will discuss the financial results and host a question-and-answer session. In addition, a live audio webcast of the call will be accessible to the public on the “Investors” page of the Company’s website located at http://www.bjsrestaurants.com, and a recording of the webcast will be archived on the site for 30 days following the live event. Please allow 15 minutes to register and download and install any necessary software.

About BJ’s Restaurants, Inc.

BJ’s Restaurants, Inc. is a national casual dining brand with brewhouse roots. Founded in 1978, BJ’s owns and operates over 200 restaurants across 31 states, combining high-quality ingredients, bold flavors, sincere service, moderate prices and a fresh atmosphere. The brand’s chef-crafted menu offers something for everyone, from its signature deep-dish pizzas and slow-roasted entrees and wings to its often imitated but never replicated world-famous Pizookie® dessert. As the most decorated restaurant-brewery in the country and winner of the 2025 Vibe Vista Award for Best Beer Program and 2024 Best Overall Beverage Program, BJ’s has been a pioneer in craft brewing since 1996, serving award-winning proprietary handcrafted beers brewed at operations in four states and by independent third-party craft brewers. All BJ’s locations offer dine in, take out, delivery and large party catering, providing guests with multiple ways to enjoy the experience at BJ’s. Whether you’re gathering with family for dinner, catching the game with friends or celebrating life’s special moments, BJ’s creates the perfect backdrop for connection and community. To learn more, visit www.bjsrestaurants.com or follow @bjsrestaurants on Instagram, Facebook and X.

Forward-Looking Statements Disclaimer

Certain statements in the preceding paragraphs and all other statements that are not purely historical constitute “forward-looking” statements for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Such statements include, but are not limited to, those regarding our anticipated comparable restaurant sales, restaurant level operating profit, Adjusted EBITDA, capital expenditures and share repurchases, as well as the success of various sales-building and productivity initiatives, future guest traffic trends, on and off-premise sales trends, cost savings initiatives and the number and timing of new restaurants expected to be opened in future periods. These “forward-looking” statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those projected or anticipated. Factors that might cause such differences include, but are not limited to: (i) any inability or failure to successfully and adequately address and offset rising costs, including the effects of tariffs and increases in energy, labor, construction and other operational costs, as well as changes in macroeconomic conditions and consumer spending, (ii) any inability to manage new restaurant openings, (iii) construction delays, (iv) wage inflation and competitive labor market conditions which may result in staffing shortages, (v) the impact of any union organizing efforts at our restaurants and our responses to such efforts, (vi) increases in minimum wage and other employment related costs, including compliance with the Patient Protection and Affordable Care Act and minimum salary requirements for exempt team members, (vii) the effect of credit and equity market disruptions on our ability to finance our continued expansion on acceptable terms, (viii) food quality and health concerns and the effect of negative publicity about us, our restaurants, other restaurants, or others across the food supply chain, due to food borne illness or other illnesses or other reasons, whether or not accurate, (ix) factors that disproportionately impact California, Texas and Florida, where a substantial number of our restaurants are located, (x) restaurant and brewery industry competition, (xi) impact of certain brewing business considerations, including without limitation, dependence upon suppliers, third party contractors and distributors, and related hazards, (xii) consumer spending trends in general for casual dining occasions, (xiii) potential uninsured losses and liabilities due to limitations on insurance coverage, (xiv) fluctuating commodity costs and availability of food in general and certain raw materials related to the brewing of our craft beers and energy requirements, (xv) government regulations and licensing costs, including beer and liquor regulations, (xvi) loss of key personnel, (xvii) inability to secure acceptable sites, (xiii) legal proceedings, (xix) the success of our key sales-building and related operational initiatives, (xx) any failure of our information technology or security breaches with respect to our electronic systems and data, and (xxi) numerous other risks discussed in the Company’s filings with the Securities and Exchange Commission, including its recent reports on Forms 10-K, 10-Q and 8-K.

The “forward-looking” statements contained in this press release are based on current assumptions and expectations, and BJ’s Restaurants, Inc. undertakes no obligation to update or alter its “forward-looking” statements whether as a result of new information, future events or otherwise.

For further information, please contact ICR at (332) 242-4370 or at InvestorRelations@BJRI.com.

 
BJ’s Restaurants, Inc.
Unaudited Consolidated Statements of Operations
(Dollars in thousands except for per share data)
    
 Fourth Quarter Ended Fiscal Year Ended
 December 30, 2025
(unaudited)
December 31, 2024 December 30, 2025
(unaudited)
December 31, 2024
Revenues$355,399 100.0%$344,339 100.0% $1,399,126 100.0%$1,357,302 100.0% 
Restaurant operating costs (excluding depreciation and amortization):          
Cost of sales 90,766 25.5  89,098 25.9   353,293 25.3  350,560 25.8  
Labor and benefits 127,168 35.8  123,418 35.8   504,537 36.1  495,466 36.5  
Occupancy and operating 80,260 22.6  78,937 22.9   325,060 23.2  315,683 23.3  
General and administrative 25,071 7.1  23,711 6.9   91,005 6.5  88,272 6.5  
Depreciation and amortization 20,247 5.7  18,516 5.4   76,571 5.5  72,745 5.4  
Restaurant opening - -  77 -   663 -  2,082 0.2  
Loss on disposal and impairment of assets, net 744 0.2  15,373 4.5   1,687 0.1  18,414 1.4  
Total costs and expenses 344,256 96.9  349,130 101.4   1,352,816 96.7  1,343,222 99.0  
Income (loss) from operations 11,143 3.1  (4,791)(1.4)  46,310 3.3  14,080 1.0  
           
Other income (expense):          
Interest expense, net (1,060)(0.3) (1,472)(0.4)  (4,745)(0.3) (5,484)(0.4) 
Other income (expense), net 787 0.2  (4,562)(1.3)  5,668 0.4  (331)-  
Total other (expense) income (273)(0.1) (6,034)(1.8)  923 0.1  (5,815)(0.4) 
Income (loss) before income taxes 10,870 3.1  (10,825)(3.1)  47,233 3.4  8,265 0.6  
           
Income tax benefit (1,773)(0.5) (5,559)(1.6)  (1,575)(0.1) (8,422)(0.6) 
Net income (loss)$12,643 3.6%$(5,266)(1.5)% $48,808 3.5%$16,687 1.2% 
           
Net income (loss) per share:          
Basic$0.60  $(0.23)  $2.22  $0.72   
Diluted$0.58  $(0.23)  $2.16  $0.70   
           
Weighted average number of shares outstanding:          
Basic 21,126   22,789    21,980   23,132   
Diluted 21,728   22,789    22,622   23,768   
 
Percentages reflected above may not reconcile due to rounding.
 


BJ’s Restaurants, Inc.
Selected Consolidated Balance Sheet Information
(Dollars in thousands)
 
 December 30, 2025
(unaudited)
 December 31, 2024
Cash and cash equivalents$23,781 $26,096
Total assets$1,015,455 $1,041,064
Total debt$85,000 $66,500
Shareholders’ equity$366,193 $370,017
      

        

BJ’s Restaurants, Inc.
Unaudited Supplemental Information
(Dollars in thousands)
           
 Fourth Quarter Ended Fiscal Year Ended 
 December 30, 2025December 31, 2024 December 30, 2025December 31, 2024 
Stock-based compensation(1)          
Labor and benefits$517 0.1%$689 0.2% $2,407 0.2%$2,452 0.2% 
General and administrative 1,508 0.4  1,785 0.5   5,708 0.4  6,177 0.5  
Total stock-based compensation$2,025 0.6%$2,474 0.7% $8,115 0.6%$8,629 0.6% 


Operating Data
          
Comparable restaurant sales % change 2.6%  5.5%   2.0%  1.2%  
Restaurants opened during period -   -    1   3   
Restaurants open at period-end 219   218    219  218(2)  
Restaurant operating weeks 2,847   2,834    11,376   11,274   
 
(1)   Percentages represent percent of total revenues and may not reconcile due to rounding.
(2)   During the period, one restaurant was permanently closed.
 

Reconciliation of Non-GAAP Financial Measures

The Company is reporting certain non-GAAP financial results and related reconciliations to the corresponding GAAP financial measures. These non-GAAP measures are not in accordance with, or a substitute for, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. These measures should only be used to evaluate the Company’s results of operations in conjunction with corresponding GAAP measures.

Adjusted diluted net income per share is a non-GAAP financial measure that represents net income (loss) excluding adjustments intended to provide greater transparency of underlying performance and to allow investors to evaluate our business on the same basis as our management.

Restaurant level operating profit is equal to the revenues generated by our restaurants less their direct operating costs which consist of cost of sales, labor and benefits, and occupancy and operating costs. This performance measure primarily includes the costs that restaurant-level managers can directly control and excludes other operating costs that are essential to conduct the Company’s business, as detailed in the table below. Management uses restaurant level operating profit as a supplemental measure of restaurant performance. Management believes restaurant level operating profit is useful to investors in that it highlights trends in the operating results of our business that may not otherwise be apparent to investors when relying solely on GAAP financial measures.

Adjusted EBITDA is a non-GAAP financial measure that represents the sum of net income (loss) adjusted for certain expenses and gains/losses detailed within the reconciliation below. Management uses Adjusted EBITDA as a supplemental measure of our performance. Management believes these measures are useful to investors in that they highlight cash flow and trends in the operating results of our business that may not otherwise be apparent to investors when relying solely on GAAP financial measures.

The following tables, which provide a reconciliation of non-GAAP financial measures, presented in this release, to the most directly comparable financial measures calculated and presented in accordance with GAAP for the fourth quarter and fiscal year ended December 30, 2025, and December 31, 2024, are set forth below:

 
BJ’s Restaurants, Inc.
Supplemental Financial Information – Adjusted Diluted Net Income Per Share
(Unaudited, dollars in thousands)
           
 Fourth Quarter Ended Fiscal Year Ended 
 December 30,
2025
December 31, 2024 December 30,
2025
December 31, 2024 
Net income (loss)$12,643 3.6%$(5,266)(1.5)% $48,808 3.5
% $16,687 1.2% 
           
Loss on disposal and impairment of assets, net 744 0.2  15,373 4.5   1,687     0.1  18,414 1.4  
Leadership transition expenses, net 1,392 0.4  1,543 0.4   1,392 0.1  3,231 0.2  
Warrant extension - -  4,622 1.3   - -  4,622 0.3  
Tax effect of adjustments(1) (517)(0.1) (5,212)(1.5)  (745)(0.1) (6,357)(0.5) 
After tax effect of adjustments 1,619 0.5  16,326 4.7      2,334     0.2  19,910 1.5  
           
Adjusted net income$14,262 4.0%$11,060 3.2% $51,142 3.7%$36,597 2.7% 
Diluted weighted average number of shares outstanding: 21,728  23,455(2)   22,622   23,768   
Diluted net income (loss) per share (as reported)$0.58  $(0.23)  $2.16  $0.70   
Adjusted diluted net income per share$0.66  $0.47   $2.26  $1.54   
 
Percentages above represent percent of total revenues and may not reconcile due to rounding.
 
(1)   The tax effect is based on the Company’s annual statutory tax rate of 24.2% for the fiscal years ended December 30, 2025, and December 31, 2024.
(2)   To include potentially dilutive shares in the computation of diluted net income per share, the number of shares noted differs from the number reported on the Unaudited Consolidated Statements of Operations.
 


BJ’s Restaurants, Inc.
Supplemental Financial Information – Restaurant Level Operating Profit
(Unaudited, dollars in thousands)
    
 Fourth Quarter Ended Fiscal Year Ended
 December 30,
2025
December 31, 2024 December 30,
2025
December 31, 2024 
Income (loss) from operations$11,1433.1%$(4,791)(1.4)% $46,3103.3%$14,0801.0% 
General and administrative 25,0717.1  23,711 6.9   91,0056.5  88,2726.5  
Depreciation and amortization 20,2475.7  18,516 5.4   76,5715.5  72,7455.4  
Restaurant opening --  77 -   663-  2,0820.2  
Loss on disposal and impairment of assets, net 7440.2  15,373 4.5   1,6870.1  18,4141.4  
Restaurant level operating profit$57,20516.1%$52,886 15.4% $216,23615.5%$195,59314.4% 
                    
Percentages above represent percent of total revenues and may not reconcile due to rounding.
 


BJ’s Restaurants, Inc.
Supplemental Financial Information –Adjusted EBITDA
(Unaudited, dollars in thousands)
    
 Fourth Quarter Ended Fiscal Year Ended
 December 30,
2025
December 31, 2024 December 30,
2025
December 31, 2024
Net income (loss)$12,643 3.6%$(5,266)(1.5)% $48,808 3.5%$16,687 1.2% 
Interest expense, net 1,060 0.3  1,472 0.4   4,745 0.3  5,484 0.4  
Income tax benefit (1,773)(0.5) (5,559)(1.6)  (1,575)(0.1) (8,422)(0.6) 
Depreciation and amortization 20,247 5.7  18,516 5.4   76,571 5.5  72,745 5.4  
Leadership transition expenses, net 1,392 0.4  1,543 0.4   1,392 0.1  3,231 0.2  
Stock-based compensation expense 2,025 0.6  2,474 0.7   8,115 0.6  8,629 0.6  
Other (income) expense, net (787)(0.2) 4,562 1.3   (5,668)(0.4) 331 -  
Loss on disposal and impairment of assets, net 744 0.2  15,373 4.5   1,687 0.1  18,414 1.4  
Adjusted EBITDA$35,551 10.0%$33,115 9.6% $134,075 9.6%$117,099 8.6% 
                       
Percentages above represent percent of total revenues and may not reconcile due to rounding.
 



FAQ

What were BJRI fiscal 2025 total revenue and comparable sales results?

BJ’s reported fiscal 2025 total revenue of $1.4 billion and comparable restaurant sales up 2.0%. According to the company, those results reflect full-year growth versus fiscal 2024 and improved restaurant operating profitability.

How did BJRI perform in fiscal Q4 2025 on key metrics?

In Q4 2025 BJ’s reported revenue of $355.4 million, comparable sales +2.6%, and adjusted diluted EPS of $0.66. According to the company, restaurant level operating profit margin expanded by 70 basis points in the quarter.

What is BJRI’s 2026 financial outlook for Adjusted EBITDA and restaurant profit?

BJ’s expects 2026 Adjusted EBITDA of $140M–$150M and restaurant level operating profit of $221M–$233M. According to the company, these ranges reflect management’s current view and are subject to forward-looking risks.

How much did BJRI repurchase in 2025 and what repurchase capacity remains?

BJ’s repurchased and retired approximately 2.0 million shares at a cost of about $67.8M in 2025 and repurchased ~167,000 shares for $5.4M in Q4. According to the company, approximately $93.2M remains available under the program.

What are BJRI’s 2026 capital spending and share-repurchase plans?

BJ’s plans 2026 capital expenditures of $85M–$95M and may repurchase up to $50M of stock depending on market conditions. According to the company, repurchases will be executed subject to market and liquidity considerations.
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860.40M
20.07M
Restaurants
Retail-eating Places
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United States
HUNTINGTON BEACH