BJ's Restaurants slips as inflation, labor costs drive profit miss

BJs Restaurants

22/07/2022 14:28

** Shares of BJ's Restaurants  BJRI.O  down ~5% at $22.12
before the bell 
    ** BJRI after market hours on Thursday missed Q2 profit
estimates, hurt by inflation and higher labor expenses
 urn:newsml:reuters.com:*:nGNX7JVdPZ
    ** Posts profit of 1 cent per share, widely missing the
24-cent EPS estimated by analysts, according to Refinitiv IBES
    ** BJRI says it hired more than 6,000 new employees in Q2
    ** At least four brokerages trim their PTs on BJRI on
near-term pressure inflationary and labor headwinds 
    ** Co's revenue, however, jumps 13.6% to $329.7 mln, topping
estimates of $328.0 mln 
    ** BJRI has a consensus rating of "hold" among 11 brokerages
on Refinitiv, with a median PT of $27
    ** Up to Thursday's close, stock had fallen ~33% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))