BJ's Wholesale Club Stock Gains On Q3 Beat, $500M Stock Buyback

  • BJ's Wholesale Club Holdings Inc BJ reported third-quarter FY21 total revenue growth of 14.3% year-on-year, to $4.26 billion, beating the analyst consensus of $3.92 billion.
  • The comparable sales increased by 13.1%, reflecting two-year stacked comp of 27.2%.
  • Comparable club sales, excluding gasoline sales, rose 5.7%, reflecting two-year stacked comp of 24.2%.
  • Digitally-enabled sales growth was 44%.
  • The operating margin was 4%, and operating income for the quarter fell 10.6% to $170.16 million.
  • Adjusted EPS of $0.91 beat the analyst consensus of $0.80.
  • The company's board has approved a share repurchase program of up to $500 million.
  • The company held $84.7 million in cash and equivalents as of October 30, 2021. Cash provided by operating activities totaled $173.9 million with a free cash flow of $99.2 million.
  • BJ's Wholesale Club continues to refrain from offering detailed formal guidance citing external factors and uncertainties in the market.
  • Price Action: BJ shares traded higher by 5.89% at $63.5 on the last check Thursday.
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