Texas Roadhouse (TXRH) Misses Q3 EPS by 1c

November 1, 2016 4:08 PM EDT
Get Alerts TXRH Hot Sheet
Trade TXRH Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Texas Roadhouse (NASDAQ: TXRH) reported Q3 EPS of $0.36, $0.01 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $481.64 million versus the consensus estimate of $483.75 million.

Comparable restaurant sales growth of 3.4% at company restaurants and 3.3% at domestic franchise restaurants.

2016 Outlook

The Company reported that comparable restaurant sales at company restaurants for the first four weeks of its fourth quarter of fiscal 2016 increased approximately 3.8% compared to the prior year period.

Management updated the following expectations for 2016:

  • Approximately 30 company restaurant openings, including as many as nine Bubba’s 33 restaurants; and,
  • Food cost deflation of approximately 3.5% compared to previous guidance of 2.5% to 3.0%.

Management reiterated the following expectations for 2016:

  • Positive comparable restaurant sales growth;
  • An income tax rate of approximately 30.0%; and
  • Total capital expenditures of $165.0 million to $175.0 million.

2017 Outlook

Management provided the following initial expectations for 2017:

  • Positive comparable restaurant sales growth;
  • Approximately 30 company restaurant openings, including at approximately seven to eight Bubba’s restaurants;
  • Low-single digit food cost deflation;
  • Mid-single digit labor inflation, including increases from wage rates, as well as regulatory changes;
  • An income tax rate of 30.0% to 31.0%; and
  • Total capital expenditures of $170.0 million.

For earnings history and earnings-related data on Texas Roadhouse (TXRH) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Earnings, Guidance

Related Entities

Earnings

Add Your Comment