BJ's Wholesale Club Holdings (BJ) Q3 FY2023 earnings: revenue $4.9 billion, up 2.9% on the year

BJ's Wholesale Club Holdings, Inc. (BJ) reported revenue of $4.9 billion for Q3 FY2023, the quarter ended 28 October 2023, up 2.9% on the same quarter a year earlier. Net income was $130 million, up 0.4% on the year, and diluted earnings per share $0.97. The figures are the company's own, from the 10-Q it filed with the SEC on 22 November 2023.

Revenue$4.9 billionup 2.9%

Net income$130 millionup 0.4%

Diluted EPS$0.97

QuarterQ3 FY2023ended 28 October 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	4,925	n/a	n/a	n/a
Cost of revenue	4,022	n/a	n/a	n/a
Gross profit	902	n/a	n/a	n/a
Gross margin	18.3%	n/a	n/a
Selling, general and administrative	697	n/a	n/a	n/a
Operating income	199	n/a	n/a	n/a
Operating margin	4.0%	n/a	n/a
Pre-tax income	181	n/a	n/a	n/a
Income tax	50.9	n/a	n/a	n/a
Effective tax rate	28.1%	n/a	n/a
Net income	130	n/a	n/a	n/a
Net margin	2.6%	n/a	n/a
Diluted EPS	$0.97	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	175	n/a	n/a	n/a
Capital expenditure	134	n/a	n/a	n/a
Free cash flow	41.3	n/a	n/a	n/a
Free cash flow margin	0.8%	n/a	n/a
Cash from investing	-127	n/a	n/a	n/a
Cash from financing	-40.3	n/a	n/a	n/a
Depreciation and amortisation	57.4	n/a	n/a	n/a
Share-based compensation	9.4	n/a	n/a	n/a
Buybacks	14.5	n/a	n/a	n/a
Diluted shares, weighted	135m	n/a	n/a	n/a
Shares outstanding at period end	133m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,354	n/a	n/a	n/a
Debt	398	n/a	n/a	n/a
Operating lease liabilities	2,085	n/a	n/a	n/a
Other liabilities	3,000	n/a	n/a	n/a
Total liabilities and equity	6,837	n/a	n/a	n/a
Fixed assets	1,496	n/a	n/a	n/a
Goodwill	1,009	n/a	n/a	n/a
Intangible assets	110	n/a	n/a	n/a
Cash and equivalents	33.6	n/a	n/a	n/a
Receivables	225	n/a	n/a	n/a
Inventory	1,662	n/a	n/a	n/a
Other assets	2,303	n/a	n/a	n/a
Total assets	6,837	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	4,925	5,357	4,919	5,205	5,099	5,279	5,153	5,380	5,348	5,575	5,662	6,227
Cost of revenue	4,022	4,394	4,035	4,249	4,124	4,330	4,184	4,374	4,334	4,566	4,634	5,117
Gross profit	902	963	883	957	975	949	969	1,006	1,014	1,010	1,028	1,110
Gross margin	18%	18%	18%	18%	19%	18%	19%	19%	19%	18%	18%	18%
SG&A	697	741	722	750	734	758	761	786	788	818	806	851
Operating income	199	214	161	204	229	178	204	217	218	178	208	252
Operating margin	4%	4%	3%	4%	4%	3%	4%	4%	4%	3%	4%	4%
Pre-tax income	181	198	147	191	217	166	193	206	208	167	196	239
Tax rate	28%	26%	24%	24%	28%	26%	22%	27%	27%	25%	27%	27%
Net income	130	146	111	145	156	123	150	151	152	126	143	174
Net margin	3%	3%	2%	3%	3%	2%	3%	3%	3%	2%	3%	3%
Diluted EPS	$0.97	$1.08	$0.83	$1.08	$1.17	$0.92	$1.13	$1.14	$1.15	$0.96	$1.10	$1.36
Operating cash flow	175	274	201	221	207	272	208	250	181	391	140	401
Capital expenditure	134	119	106	134	188	160	140	166	195	201	182	177
Free cash flow	41.3	155	95.1	87.5	18.8	111	67.6	84.3	-13.7	190	-42.0	224
Buybacks	14.5	53.4	57.3	42.7	58.1	61.6	41.3	41.6	87.3	117	226	123
Shares outstanding	133m	133m	133m	133m	132m	132m	132m	132m	131m	130m	128m	126m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 October 2023, filed 22 November 2023, accession 0001531152-23-000143: the filing on EDGAR. All of BJ's Wholesale Club Holdings, Inc.'s filings: EDGAR company page.

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