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BJ’s Wholesale Club Posts Results for Third Quarter of FY 2022

11/19/2022

In a November 17th release, BJ’s Wholesale Club Holdings (BJ) announced third quarter results for the period ending October 29th 2022.  The company posted net income of $130 million on total revenue of $4,785 million with an EPS of $0.95.  Comparative values for the third quarter of FY2021 were net income of $127 million on revenue of $4,264 million with an EPS $0.92. For the third quarter BJ’S attained a gross margin of 16.6 percent and an operating margin of 4.1 percent

 

Comparable club sales, excluding fuel, increased by 5.3 percent. Digital sales increased by 43 percent compared to Q3 of 2021. The company operates 231 stores with 161 fuel centers in 17 states.

 

In commenting on results, Bob Eddy, president and CEO stated, We reported another quarter of strong results, demonstrating the power of our business model. Our consistent focus on delivering value to our members at a time when they need it most will bolster our business for the future. Our member base is growing in both size and quality. We are improving our merchandising to deliver amazing value. We are offering more convenience for our members through a great digital experience. We are expanding our footprint into new and existing markets. We have a great team and a competitive strategy, and the investments we continue to make in our Company position us well for long-term growth and sustainable value creation.”

 

Effective October 29th 2022, BJ’s posted total assets of $6,478 million including $1,126 goodwill and intangibles and carried long- term debt and lease obligations of $3,812 million. BJ’s had a market capitalization of $10 billion on November 18th and has traded over the past 52 weeks from $51.45 to $80.41 with a 50-day moving average of $74.90.  BJ closed at $78.36 on Wednesday 16th but opened post release on Thursday 17th at $72.34. BJ trades with a forward P/E of 19.2. For the trailing-12 months the company posted an operating margin of 3.9 percent and a profit margin of 2.6 percent.  The company returned 7.5 percent on assets and 65.2 percent on equity.