BJ’s Restaurants Inc. (Nasdaq : BJRI) today posted fourth quarter results that missed analysts’ consensus estimate, causing the shares to fall 3.9% to $33.25 in after hours trading.
The Huntington Beach restaurant chain, Orange County’s fourth largest by sales, saw revenue jump 18% from the year prior to $344.15 million; the consensus estimate of analysts was $344.19 million.
The company’s fourth-quarter results featured an extra operating week, which added $26.5 million in sales. Without the extra week, revenue for the company increased 9% from the year prior., the company said.
“We are encouraged by the strong sales trends and growth in our dining room guest traffic in fiscal 2023 to date, which are helping offset ongoing inflationary pressures on food, labor, utilities and other restaurant costs,” Chief Executive Greg Levin said in a statement. “Based on current expectations, first quarter comparable restaurant sales should be in the high single-digits.”
