A slowdown across the broader casual dining segment and the impact of Hurricane Dorian on certain East Coast states impacted the third quarter for Huntington Beach-based restaurant operator BJ’s Restaurants Inc.’s (Nasdaq: BJRI).
Still, the company said Thursday in its third-quarter report new restaurants are performing better than expected.
The company, which operates 207 restaurants, saw third-quarter revenue total $278.7 million, up 3.1% from the year-ago period and in line with analyst expectations.
BJ’s beat earnings estimates for the quarter with $3.7 million in net income, narrowed from $8.5 million generated in the year-ago period. Analysts expected earnings of $2.1 million in the quarter.
The company didn’t provide revenue or earnings guidance for the current quarter, but said it expects to open eight to 10 stores in 2020.
BJ’s shares were up more than 15% Friday to a market value of $873 million.
