TLDR
- BJ’s has beaten earnings estimates in each of the last two quarters, with an average surprise of 4.50%
- The company has a positive Earnings ESP of +0.39% and a Zacks Rank #2 (Buy) heading into Q2 earnings on August 21, 2026
- BJ $BJ currently trades at 20 times forward earnings, compared to 42 times for Costco $COST
- Since its 2018 IPO, BJ’s has returned 326%, outpacing the S&P 500 by 100 points
- One analyst sees more than 20% upside from current levels after a recent upgrade to Buy
BJ’s Wholesale Club $BJ heads into its August 21 earnings report with momentum behind it. The stock trades around 20 times forward earnings estimates, less than half the 42 times multiple that Costco $COST commands.
BJ’s Wholesale Club Holdings, Inc., BJ
The company has beaten Wall Street’s earnings estimates in each of the last two quarters. In its most recent report, BJ’s posted earnings of $1.10 per share against a consensus estimate of $1.04, a beat of 5.77%. The quarter before that, it earned $0.96 per share versus an expected $0.93.
That two-quarter average surprise sits at 4.50%, and analyst estimates have been drifting higher as a result.
Zacks currently gives BJ’s an Earnings ESP of +0.39% and a Rank #2 (Buy). When a stock carries both a positive Earnings ESP and a Zacks Rank of Hold or better, Zacks research shows it beats the consensus estimate roughly 70% of the time.
Analyst Upgrades Ahead of Report
Chuck Grom at Gordon Haskett recently upgraded BJ’s to Buy. He’s one of 12 out of 25 analysts currently bullish on the stock.
Grom points to steady membership income, high renewal rates, modest debt, and recent buybacks as reasons for his optimism. He sees more than 20% upside from current levels.
He also notes that BJ’s has moved past tough comparisons from a year ago, when egg price deflation weighed on results. A push into the Dallas-Fort Worth market has so far held up better than skeptics expected.
BJ’s has around double the SKUs of Costco, which cuts both ways. Some shoppers like the wider brand selection. Others see it as bloat. The company has brought in a new merchandising head to help trim the item count.
Long-Term Performance vs. Peers
Since its 2018 IPO, BJ’s has returned a cumulative 326%. That beats the S&P 500 by 100 points, though it still trails Costco by about 80 points over the same stretch.
This year, BJ’s has lagged both benchmarks. The stock has had a rough run lately, down 1.33% recently, while Costco gained 0.56% on the same day.
BJ’s operates just under 300 warehouse club locations, mostly on the East Coast. Costco has more than three times as many stores and carries a market value more than 30 times larger.
BJ’s accepts manufacturer coupons, offers curbside pickup for online orders, and tends toward smaller multipacks suited to midsize families, differentiating it from Costco’s larger-format bulk model.
The Q2 2026 earnings report is scheduled for August 21, 2026.
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