MARLBOROUGH, Mass. - BJ's Wholesale Club Holdings, Inc. (NYSE: BJ ) saw its stock rise 8.6% after reporting third quarter earnings that beat analyst expectations and raising its full-year guidance.
The wholesale club operator reported adjusted earnings per share of $1.18 for the third quarter, surpassing the analyst consensus estimate of $0.93. Revenue came in at $5.1 billion, slightly below the $5.12 billion analysts were expecting.
Comparable club sales increased 1.5% year-over-year, or 3.8% excluding gasoline sales. Membership fee income rose 8.4% to $115 million.
"Our third quarter results demonstrate the combination of great value and strong execution. We delivered robust membership growth and hit a milestone of 7.5 million members," said Bob Eddy, Chairman and CEO.
BJ's raised its full-year adjusted EPS guidance to a range of $3.90 to $4.00, up from its previous outlook of $3.75 to $4.00. The company now expects full-year comparable club sales growth of 2.3% to 2.4%, excluding gas.
For the fourth quarter, BJ's forecasts adjusted EPS of $0.78 to $0.88, below the $0.98 consensus estimate. The company projects Q4 comparable sales growth of 2.5% to 3.0% excluding gas.
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