Overview

• US warehouse club operator's fiscal Q1 revenue rose 9.9% yr/yr

• Adjusted EPS for fiscal Q1 beat analyst expectations

• Company repurchased $206.6 mln in shares during the quarter

Outlook

• BJ's expects fiscal 2026 comparable club sales, ex-gasoline, to rise 2.0%-3.0% yr/yr

• Company maintains fiscal 2026 adjusted EPS guidance of $4.40-$4.60

• BJ's projects fiscal 2026 capital expenditures of about $800 mln

Result Drivers

• GASOLINE SALES - Comparable club sales growth was largely driven by gasoline sales, with merchandise-only comps up 1.5% yr/yr

• MEMBERSHIP INCOME - Membership fee income rose 9.9%, driven by strength in membership acquisition, retention and higher-tier membership penetration

• DIGITAL SALES - Digitally enabled comparable sales grew 28% yr/yr, reflecting ongoing momentum in the company's digital channels

Company press release: ID:nBw9NcGHWa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Adjusted EPS	Beat	$1.10	$1.03 (17 Analysts)
Q1 EPS		$1.10
Q1 Net Income		$142.73 mln
Q1 Adjusted EBITDA	Beat	$298.07 mln	$269.74 mln (10 Analysts)
Q1 Operating income		$207.91 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the discount stores peer group is "buy"

• Wall Street's median 12-month price target for BJ's Wholesale Club Holdings Inc is $110.00, about 16.5% above its May 21 closing price of $94.43

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

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