This Company Reported Earnings Today +19% On the YTD
This Company Reported Earnings Today +19% On the YTD
Earnings Recap On A 2022 High Performing Stock
Good morning and CONGRATULATIONS Traders and Investors,
BJ’s wholesale Club [NYSE: BJ 0.00%↑ ] is one of our MOST FEATURED stocks of 2022 as we have started to cover this early this year.
The stock is trading up nearly 20% on the year to date which is outperforming the S&P 500 which is down -17% on the year to date.
As BJ has been a rockstar addition to a portfolio for swing traders, the company reported EARNINGS TODAY and the stock has touched new highs in the pre-market session.
***We did not review the earnings call yet as it is being conducted now. The stock is lower in the opening sessions but, the $69-$70 area is of interest. ***
I Always Tell My Readers…
I always tell my readers that if you catch a few 20% winners a years, a few 40% winners and maybe 1 or 2 100% winners a year with losses averaging less than 5% then you are sitting up VERY NICE on the year in your portfolio!
Now…lets discuss the earnings on BJ 0.00%↑ for everyone.
EARNINGS
Here are the highlights directly from $BJ’s investors page for the Q3 results⬇
Third Quarter Fiscal 2022 Highlights
Total comparable club sales increased by 9.7% year-over-year.
Comparable club sales, excluding gasoline sales, increased by 5.3% year-over-year.
Membership fee income increased by 8.7% year-over-year to $99.5 million.
Digitally enabled sales growth was 43.0% year-over-year.
Earnings per diluted share of $0.95 reflects a 3.3% year-over-year increase.
Adjusted earnings per diluted share of $0.99 reflects a 8.8% year-over-year increase.
Cash from operating activities was $173.1 million and free cash flow was $78.7 million.
The Company opened three new clubs in the third quarter.
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I have always made the case that membership stores with bulk items such as Sams club, Costco and BJ’s are to some extent recession proof.
The income class that shops at these stores is higher with a company like COST 0.00%↑ seeing the average household making 100k while Walmart has the average household making less than $50k.
BJ 0.00%↑ offers gas at a cheaper price for members than your regular gas station which continues to attract demand as the companies' memberships continue to grow!
“Our member base is growing in both size and quality,” Bob Eddy, President and Chief Executive Officer, BJ’s Wholesale Club.
RAISED GUIDANCE
As companies continue to cut their Q4 forecast, BJ raised their guidance on the top and bottom line.
Read what they had to say in their investor press release⬇
Fiscal 2022 Ending January 28, 2023 Outlook
“We are optimistic about the outlook on our business given the sustained strength in our grocery business and our gains in market share,” said Laura Felice, Executive Vice President, Chief Financial Officer, BJ's Wholesale Club. “We now expect fiscal year 2022 comparable club sales growth, excluding the impact of gasoline sales, to be in the 5.0% to 5.5% range. While we expect continued merchandise margin rate pressure, we also now expect fiscal year 2022 EPS to be in the $3.70 to $3.80 range. We remain confident that the strength of our core business and our intense focus on delivering value will continue to drive long-term growth.”
The Chart
The $70 area is the key area for this stock as it is PRIOR RESISTANCE which has acted as NEW SUPPORT.
*****The company is having their earnings call this morning which we have not reviewed yet!****
Previously On Lusso’s News Insider
Read our last earnings coverage on BJ 0.00%↑ .
RARE STOCK, Great Earnings + Great Technicals (substack.com)
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