BJ's Wholesale Club Q2 Profit Beats Estimates; Raises Outlook

(RTTNews) - BJ's Wholesale Club Holdings, Inc. (BJ) reported that its second quarter adjusted EPS increased to $1.06 from $0.82, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $141.01 million or $1.03 per share from $110.99 million or $0.80 per share, last year.

Total revenues were $5.10 billion, up 22.2% from last year. Analysts on average had estimated $4.64 billion in revenue. Total comparable club sales increased by 19.8% in the second quarter of fiscal 2022. Excluding the impact of gasoline sales, comparable club sales increased by 7.6% in the second quarter.

The company expects fiscal 2022 comparable club sales growth, excluding the impact of gasoline sales, to be in the 4%-5% range, up from original guidance of low single digit. The company estimates fiscal 2022 EPS to be in the $3.50 to $3.60 range, up from original guidance of approximately $3.25.

"Our outlook on the business is strong given the sustained strength in our grocery business and our gains in market share," said Laura Felice, Executive Vice President, Chief Financial Officer, BJ's Wholesale Club.

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