BJ's Restaurants, Inc. Files 10-Q for Period Ending April 2, 2024

TL;DR

<b>BJ's Restaurants, Inc. filed its Q1 2024 10-Q report on May 6, 2024.</b>

AI Summary

BJs RESTAURANTS INC (BJRI) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. BJ's Restaurants, Inc. filed a 10-Q report for the period ending April 2, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on January 3rd. BJ's Restaurants, Inc. was formerly known as Chicago Pizza & Brewery Inc. The company is incorporated in California.

Why It Matters

For investors and stakeholders tracking BJs RESTAURANTS INC, this filing contains several important signals. This filing provides investors with the latest financial performance and operational details for BJ's Restaurants, Inc. during the first quarter of 2024. Understanding the 10-Q is crucial for assessing the company's financial health, strategic direction, and potential risks and opportunities.

Risk Assessment

Risk Level: low — BJs RESTAURANTS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments.

Analyst Insight

Review the detailed financial statements and Management's Discussion and Analysis within the 10-Q to understand revenue trends, cost management, and future outlook.

Key Numbers

• 2024-04-02 — Period End Date (10-Q filing)
• 2024-05-06 — Filing Date (10-Q filing)
• 0103 — Fiscal Year End (Company fiscal year)

Key Players & Entities

• BJ's Restaurants, Inc. (company) — Filer
• Chicago Pizza & Brewery Inc. (company) — Former company name
• CA (location) — State of incorporation
• 2024-04-02 (date) — Period of report
• 2024-05-06 (date) — Filing date

FAQ

Industry Context

BJ's Restaurants operates in the casual dining sector, a segment of the broader retail food services industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the revenue and profitability figures for Q1 2024.
2. Examine any disclosed risks or uncertainties in the Management's Discussion and Analysis.
3. Compare key financial metrics to previous periods and industry benchmarks.

Key Dates

• 2024-04-02: Period of Report End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-06: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Filing Documents

• bjri-20240402.htm (10-Q) — 1004KB
• bjri-ex10_1.htm (EX-10.1) — 50KB
• bjri-ex31.htm (EX-31) — 33KB
• bjri-ex32.htm (EX-32) — 9KB
• 0000950170-24-053699.txt (&nbsp;) — 4443KB
• bjri-20240402.xsd (EX-101.SCH) — 756KB
• bjri-20240402_htm.xml (XML) — 583KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 17 Item 5. Other Information 17 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 17 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 6. Exhibits 19

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

Item 1. CONSOLIDATED FINANCIAL STATEMENTS BJ'S RESTAURANTS, INC. CONSOLIDATED B ALANCE SHEETS (In thousands) April 2, 2024 January 2, 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 18,820 $ 29,070 Accounts and other receivables, net 15,165 19,469 Inventories, net 13,543 13,245 Prepaid expenses and other current assets 18,117 21,237 Total current assets 65,645 83,021 Property and equipment, net 528,105 525,190 Operating lease assets 348,932 350,091 Goodwill 4,673 4,673 Equity method investment 4,623 4,770 Deferred income taxes, net 50,802 50,147 Other assets, net 42,142 40,562 Total assets $ 1,044,922 $ 1,058,454 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 52,439 $ 60,641 Accrued expenses 102,178 101,295 Current operating lease obligations 31,937 37,389 Total current liabilities 186,554 199,325 Long-term operating lease obligations 411,952 414,114 Long-term debt 58,000 68,000 Other liabilities 13,064 11,254 Total liabilities 669,570 692,693 Commitments and contingencies Shareholders' equity: Preferred stock, 5,000 shares authorized, none issued or outstanding — — Common stock, no par value, 125,000 shares authorized and 23,369 and 23,184 shares issued and outstanding as of April 2, 2024 and January 2, 2024, respectively — — Capital surplus 70,213 77,036 Retained earnings 305,139 288,725 Total shareholders' equity 375,352 365,761 Total liabilities and shareholders' equity $ 1,044,922 $ 1,058,454 See accompanying notes to unaudited consolidated financial statements. 1 BJ'S RESTAURANTS, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) For the Thirteen Weeks Ended April 2, 2024 April 4, 2023 Revenues $ 337,334 $ 341,280 Restaurant operating costs (excluding

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View this 10-Q filing on SEC EDGAR