BJ's Wholesale Club Holdings, Inc. (BJ) Earnings History

BJ's Wholesale Club Holdings, Inc. - Q3 FY2025 Earnings

Filed at: Nov 21, 2025, 7:02 AM EST|Read from source

EXECUTIVE SUMMARY

BJ's Wholesale Club reported mixed third-quarter results, with solid membership growth driving sales and traffic, but facing headwinds in operating income and net income compared to the prior year.

POSITIVE HIGHLIGHTS

  • •

    Membership fee income increased by 9.8% year-over-year to $126.3 million, driven by strong membership acquisition and retention.

    positive
  • •

    Comparable club sales increased by 1.1% year-over-year, with a 1.8% increase excluding gasoline sales.

    positive
  • •

    Digitally enabled comparable sales grew 30%, showing continued strength in online channels.

    positive
  • •

    Merchandise gross margin rate remained flat year-over-year in Q3 and increased 10 bps year-to-date.

    neutral

CONCERNS & RISKS

  • •

    Operating income decreased by 4.8% year-over-year in the third quarter.

    negative
  • •

    Net income decreased by 2.4% year-over-year in the third quarter.

    negative
  • •

    Adjusted EBITDA decreased by 2.2% year-over-year in the third quarter.

    negative
  • •

    SG&A expenses increased due to new club openings, labor and occupancy costs, and advertising, partially offset by a prior year legal settlement benefit.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$5.22B
+4.8%
Prior year: $4.98B
Annual (YTD)
$15.51B
N/A
Prior year: $14.88B
Net Income
Quarterly
$152.05M
-2.4%
Prior year: $155.75M
Annual (YTD)
$452.52M
N/A
Prior year: $411.75M
EPS (Diluted)
Quarterly
$1.15
-1.7%
Prior year: $1.17
Annual (YTD)
$3.42
N/A
Prior year: $3.08
Operating Income
Quarterly
$218.35M
-4.8%
Prior year: $229.38M
Annual (YTD)
$638.53M
N/A
Prior year: $593.81M
EPS (Basic)
Quarterly
$1.16
-1.7%
Prior year: $1.18
Annual (YTD)
$3.44
N/A
Prior year: $3.11

MARGIN ANALYSIS

Operating Margin
Current Quarter
4.2%
Prior Year
4.6%
YoY Change
-42 bps
Net Margin
Current Quarter
2.9%
Prior Year
3.1%
YoY Change
-21 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

MANAGEMENT GUIDANCE

FY 2025

comparable_club_sales_excluding_gasoline
$2.0M—$3.0M
Mid-point: $2.5M
"Narrowed outlook for full year merchandise comparable club sales."
adjusted_eps
$4.30—$4.40
Mid-point: $4.35
"Increased outlook for adjusted earnings per share."
capital_expenditures
800,000,000—800,000,000
Mid-point: 800,000,000

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

SPECIAL ITEMS & ADJUSTMENTS

Q3 FY2024
Benefit from net impact of legal settlements
Contributed to the increase in SG&A expenses year-over-year in Q3 FY2024, impacting comparability.
+$20M
Q3 FY2025
Restructuring charges
Related to restructuring of corporate and club functions.
+$1.495M
Q3 FY2024
Restructuring charges
Related to restructuring of corporate and club functions.
+$2.091M
Total Impact
+$23.586M

Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.

MANAGEMENT COMMENTARY

Business continues to perform well in a volatile environment, with an unwavering focus on taking care of families.

— BJ's Wholesale Club Holdings, Inc., Q3 FY2025 2025 Earnings Call

Confident in being the destination for value and convenience, entering the holiday season with momentum.

— BJ's Wholesale Club Holdings, Inc., Q3 FY2025 2025 Earnings Call

Business has delivered solid results year to date in a volatile backdrop, speaking to the power and relevance of the business model.

— BJ's Wholesale Club Holdings, Inc., Q3 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Comparable Club Sales Excluding Gasoline
1.8
percent
Digitally Enabled Comparable Sales
30
percent
Membership Fee Income
126.3M
+9.8% YoY
Prior year: 115.0M
dollars

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.