BJ’s Wholesale Club, now a public company, beat analyst estimates in the third quarter, delivering net sales and income growth.
BJ’s Wholesale Club beat analyst estimates in a quarter when it recorded net income of $54.4 million, or 39 cents per diluted share, versus $22.8 million, or 25 cents per diluted share. Adjusted net income was reported as $53.8 million, or 39 cents per diluted share, versus $35.1 million, or 25 cents per diluted share, in the period a year prior. Earnings per diluted share topped a Zacks Investment Research analyst consensus estimate by five cents.
Comparable club sales excluding gasoline sales increased 1.9% versus the quarter a year earlier.
Net sales gained 4.3% to $3.15 billion in the period year over year. Net revenues in the quarter were $3.22 billion versus $3.08 billion in the year-previous quarter. Operating income was $90.3 million versus $80.5 million in the year-before period.
“We’re pleased with our third quarter performance, which exceeded our expectations for sales and earnings,” said Christopher Baldwin, BJ’s chairman and CEO. “We continue to execute against our strategic priorities and have now delivered 11 consecutive quarters of improved profitability and five quarters of positive comp sales.”