Equity Profile

BJ

BJ's Wholesale Club Holdings, Inc.

Consumer StaplesConsumer Staples Merchandise Retail$11.5B

Aug20Thu

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates membership-based warehouse clubs, offering a wide range of products at discounted prices....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

N/A

Membership Growth

An increase in membership can drive sales and customer loyalty, which is crucial for BJ's business model.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BJ Q2-2026 Earnings Preview

Context

Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates membership-based warehouse clubs, offering a wide range of products at discounted prices. As a player in the consumer staples sector, BJ's is positioned to benefit from trends in consumer spending and the growing demand for value-oriented shopping options.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+10.16%

Avg Stock Reaction

-0.60%

Last Quarter Recap

In Q1-2026, BJ's reported an EPS of $1.10, beating estimates by 5.36%. However, the stock dropped 8.25% the following day, indicating market concerns despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about BJ's upcoming earnings, particularly given its history of beating EPS estimates. However, the market's reaction to previous earnings suggests volatility is likely.

Bull Case

If BJ's continues to show strong membership growth and same-store sales, it could lead to a significant positive reaction in the stock price.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could trigger a sharp decline in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of membership this quarter?

Membership growth is crucial for BJ's revenue, and any slowdown could raise concerns about future sales.

What are the same-store sales figures for this quarter?

Same-store sales growth is a key indicator of operational efficiency and customer demand, impacting investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate BJ's ability to drive membership growth despite economic headwinds, as its value proposition remains strong.

Supporting Evidence

BJ's has consistently beaten EPS estimates, suggesting operational strength.

The options market is pricing a larger move than historical averages, indicating potential for a surprise.

Past performance shows that the stock often reacts positively to membership growth, which may not be fully reflected in current sentiment.

Key Risk

If membership growth exceeds expectations, it could significantly alter the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether BJ's can sustain its growth trajectory amidst economic pressures and competition.

Bull Confirmed If

Membership growth of over 5% year-over-year would confirm strong demand and customer loyalty.

Bear Confirmed If

If same-store sales growth is below 2%, it may indicate weakening consumer interest.

Pre-Earnings Positioning

Options Market

Implied Move

±12.08%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.1% while BJ has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

35.9%

Calls (72K)P/C Ratio: 0.52Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BJ's beats expectations, history suggests a potential stock increase of around +0.54%, confirming the company's growth narrative.

In-Line / Cautious

A cautious inline report could lead to muted reactions as investors weigh future guidance against current performance.

Miss

A miss could result in a decline of about -8.52%, reflecting investor disappointment and concerns about the company's outlook.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·8 sells

Members

House only

Est. Notional

$8,008.00–$120,000.00

disclosed dollar ranges

Most Active Members

D-MDApril McClain DelaneyRep.
8

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention rates.
2Details on same-store sales performance and any regional trends.
3Management's outlook on consumer spending and economic conditions.
4Any new initiatives to enhance customer experience or expand product offerings.
5Insights into cost management and pricing strategies amid inflation.

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Company Snapshot

BJ's Wholesale Club Holdings, Inc. operates membership-based warehouse clubs, offering a wide range of products at discounted prices....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will help gauge the company's financial health this quarter.

N/A

Membership Growth

An increase in membership can drive sales and customer loyalty, which is crucial for BJ's business model.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BJ Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+10.16%

Avg Stock Reaction

-0.60%

Last Quarter Recap

In Q1-2026, BJ's reported an EPS of $1.10, beating estimates by 5.36%. However, the stock dropped 8.25% the following day, indicating market concerns despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If BJ's continues to show strong membership growth and same-store sales, it could lead to a significant positive reaction in the stock price.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could trigger a sharp decline in the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of membership this quarter?

Membership growth is crucial for BJ's revenue, and any slowdown could raise concerns about future sales.

What are the same-store sales figures for this quarter?

Same-store sales growth is a key indicator of operational efficiency and customer demand, impacting investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate BJ's ability to drive membership growth despite economic headwinds, as its value proposition remains strong.

Supporting Evidence

BJ's has consistently beaten EPS estimates, suggesting operational strength.

The options market is pricing a larger move than historical averages, indicating potential for a surprise.

Past performance shows that the stock often reacts positively to membership growth, which may not be fully reflected in current sentiment.

Key Risk

If membership growth exceeds expectations, it could significantly alter the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether BJ's can sustain its growth trajectory amidst economic pressures and competition.

Bull Confirmed If

Membership growth of over 5% year-over-year would confirm strong demand and customer loyalty.

Bear Confirmed If

If same-store sales growth is below 2%, it may indicate weakening consumer interest.

Pre-Earnings Positioning

Options Market

Implied Move

±12.08%

Historical Avg

±6.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±12.1% while BJ has averaged ±6.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

35.9%

Calls (72K)P/C Ratio: 0.52Puts (22K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If BJ's beats expectations, history suggests a potential stock increase of around +0.54%, confirming the company's growth narrative.

In-Line / Cautious

A cautious inline report could lead to muted reactions as investors weigh future guidance against current performance.

Miss

A miss could result in a decline of about -8.52%, reflecting investor disappointment and concerns about the company's outlook.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·8 sells

Members

House only

Est. Notional

$8,008.00–$120,000.00

disclosed dollar ranges

Most Active Members

D-MDApril McClain DelaneyRep.
8

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on membership growth and retention rates.
2Details on same-store sales performance and any regional trends.
3Management's outlook on consumer spending and economic conditions.
4Any new initiatives to enhance customer experience or expand product offerings.
5Insights into cost management and pricing strategies amid inflation.