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BJ`s Restaurant (BJRI)

BJ's Restaurants, Inc. ('BJ's') is a national brand with brewhouse roots and a menu where craft matters. BJ's broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ's EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep dish pizza and the often imitated, but never replicated world-famous Pizookie® dessert. BJ's has been a pioneer in the craft brewing world since 1996, and takes pride in serving BJ's award-winning proprietary handcrafted beers, brewed at its brewing operations in five states and by independent third party craft brewers. The BJ's experience offers high-quality ingredients, bold flavors, moderate prices, sincere service and a cool, contemporary atmosphere. Founded in 1978, BJ's owns and operates 210 casual dining restaurants in 29 states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington. All restaurants offer dine-in, take-out, delivery and large party catering. Due to the COVID-19 pandemic, one of our restaurants remains temporarily closed, and dine-in service is currently limited or not available and hours are limited in our remaining 209 restaurants.

Company profile

Ticker
BJRI
Exchange
CEO
Gregory Trojan
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CHICAGO PIZZA & BREWERY INC
SEC CIK
Subsidiaries
BJ’S RESTAURANTS, INC. • Chicago Pizza & Brewery, LP • Chicago America Holding, LLC • Chicago Pizza Management, LLC • Chicago Pizza Restaurant Holding, Inc. • Chicago Pizza Hospitality Holding, Inc. • BJ’s Restaurant Operations Company • Reno Brewery Holding, Inc. • BJ’s Restaurant Operations Company • BJROC Maryland, LLC ...
IRS number
330485615

BJRI stock data

Calendar

2 May 22
26 Jun 22
3 Jan 23
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 27.2M 27.2M 27.2M 27.2M 27.2M 27.2M
Cash burn (monthly) 3.78M 5.25M 2.91M 1.47M (no burn) (no burn)
Cash used (since last report) 11.09M 15.44M 8.54M 4.31M n/a n/a
Cash remaining 16.11M 11.76M 18.67M 22.89M n/a n/a
Runway (months of cash) 4.3 2.2 6.4 15.6 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 May 22 Krakower Brian S Common Stock Sell Dispose S No No 29.14 619 18.04K 4,058
25 Apr 22 Krakower Brian S Common Stock Sell Dispose S No No 29.42 1,000 29.42K 4,677
22 Feb 22 Janet Sherlock Common Stock Grant Acquire A No No 32.26 1,000 32.26K 10,991
15 Feb 22 Julius Robinson Common Stock Grant Acquire A No No 35.15 3,130 110.02K 3,130
9 Feb 22 Jacob Guild Common Stock Payment of exercise Dispose F No No 32.55 134 4.36K 7,217
9 Feb 22 Jacob Guild Common Stock Grant Acquire A No No 32.55 336 10.94K 7,351
13F holders Current Prev Q Change
Total holders 157 151 +4.0%
Opened positions 30 19 +57.9%
Closed positions 24 26 -7.7%
Increased positions 60 63 -4.8%
Reduced positions 49 43 +14.0%
13F shares Current Prev Q Change
Total value 743.36M 1.9B -60.9%
Total shares 25.1M 25.52M -1.6%
Total puts 101.1K 99.2K +1.9%
Total calls 374.5K 388.9K -3.7%
Total put/call ratio 0.3 0.3 +5.8%
Largest owners Shares Value Change
TROW T. Rowe Price 3.79M $107.13M -0.3%
BLK Blackrock 3.71M $105.08M +3.0%
Vanguard 2.49M $70.45M +5.9%
Act III 1.4M $52.6M 0.0%
Wellington Management 953.98K $27M -47.5%
Integrated Core Strategies 906.77K $34.42M 0.0%
Cramer Rosenthal MCGLYNN 891.52K $25.23M -16.8%
Dimensional Fund Advisors 850.71K $24.07M +10.4%
STT State Street 831.22K $23.52M +3.2%
IVZ Invesco 733.42K $20.76M +51.7%
Largest transactions Shares Bought/sold Change
Wellington Management 953.98K -863.84K -47.5%
American Century Companies 0 -826.24K EXIT
IVZ Invesco 733.42K +249.93K +51.7%
Solas Capital Management 235K +235K NEW
ATAC Neuberger Berman 722.68K +201.06K +38.5%
Cramer Rosenthal MCGLYNN 891.52K -180.29K -16.8%
Victory Capital Management 248.87K +158.45K +175.2%
North Fourth Asset Management 150K +150K NEW
Rothschild & Co Asset Management Us 238.37K -144.23K -37.7%
Vanguard 2.49M +139.43K +5.9%

Financial report summary

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Risks
  • The COVID-19 pandemic has materially disrupted and may continue to disrupt our business, operations, financial condition and results of operations.
  • The restaurant industry is highly competitive. Any inability to maintain our brand image and compete effectively in the restaurant industry may adversely affect our revenues, profitability and financial results.
  • Negative publicity about us, our restaurants, other restaurants, or others across the food supply chain, due to food borne illness or for other reasons, whether or not accurate, may adversely affect the reputation and popularity of our restaurants and our results of operations.
  • Health concerns arising from food-borne or other illnesses or specific categories of foods may adversely affect our business.
  • Increases or changes in off-premise sales may adversely affect our operating results.
  • Changes in consumer buying patterns, particularly e-commerce sites and off-premise sales affect our revenues, operating results and liquidity.
  • Any adverse change in consumer trends or traffic levels may adversely affect our business, revenues and results of operations.
  • Any inability or failure to recognize, respond to and effectively manage the accelerated impact of social media may adversely affect our business.
  • Our inability or failure to successfully and sufficiently raise menu prices to offset rising costs and expenses may adversely affect our results of operations.
  • Our past and recent trends in average restaurant sales or comparable restaurant sales may not be indicative of future trends or future operating results.
  • Any inability or failure to successfully expand our restaurant operations may adversely affect our growth rate and results of operations.
  • Our inability to renew existing leases on favorable terms may adversely affect our results of operations.
  • We may be subject to increased labor costs resulting from wage pressure, higher turnover and changes in government regulations, any of which could adversely affect our results of operations.
  • Any inability or failure of distributors or suppliers to provide food and beverages to us in a timely fashion may adversely affect our reputation, guest patronage, revenues and results of operations.
  • Any inability of our internal or independent third-party brewers to timely supply our beer may adversely affect our operating results.
  • Our corporate office is located in California and a significant number of our restaurants are located in California, Texas and Florida which makes us particularly sensitive to economic, regulatory, weather and other risk factors and conditions are more prevalent in those states.
  • We rely heavily upon information technology and related data security systems, including credit card processing and our loyalty and team member engagement programs, and any failure or interruption of these systems, including those operated by third parties, may adversely affect our ability to efficiently operate our business.
  • Our business may be adversely affected by cybersecurity incidents which result in unauthorized access, theft, modification or destruction of confidential information that is stored in our systems or by third parties on our behalf, including confidential business, team member, or guest data.
  • Federal, state and local beer, liquor and food service regulations and any violations thereof may adversely affect our revenues and results of operations.
  • Compliance with cybersecurity, privacy and similar laws may involve significant costs and any failure to comply could adversely affect our business, reputation and results of operations.
  • We are subject to a variety of laws, government regulation, and other legal requirements and any failure to comply with these laws and regulations or any new laws or regulations could have a material adverse effect on our operations.
  • We may become party to legal proceedings which could have a material adverse effect on our business.
  • Any inability to access sources of capital and/or to raise capital in the future on favorable terms may adversely affect our business and results of operations.
  • The market price of our common stock may be volatile and our shareholders may lose all or part of their investment.
Management Discussion
  • Revenues.  Total revenues increased by $75.4 million, or 33.8%, to $298.7 million during the thirteen weeks ended March 29, 2022, from $223.3 million during the comparable thirteen week period of 2021. The increase in revenues primarily consisted of a 33.9%, or $74.0 million, increase in comparable restaurant sales, a $2.9 million increase in sales from new restaurants not yet in our comparable restaurant sales base, coupled with a net $0.7 million increase related to the re-opening in August 2021 of our temporarily closed restaurant due to the COVID pandemic. Revenue increases were offset by a $1.2 million decrease in revenues related to expired loyalty points during the same period in the prior year, which were recorded to revenue, a $0.5 million decrease related to the closure of our Pasadena restaurant, and a $0.3 million decrease related to our temporarily closed restaurant as a result of a fire. The increase in comparable restaurant sales was the result of an increase in guest traffic of approximately 26.4%, coupled with an increase in average check of approximately 7.5%. The increase in guest traffic was primarily due to the re-opening of our dining rooms, which were closed or restricted in operation during the same period in 2021.

Content analysis

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