Texas Roadhouse (TXRH) Tops Q1 EPS by 7c; updates outlook

Texas Roadhouse (NASDAQ: TXRH) reported Q1 EPS of $1.69, $0.07 better than the analyst estimate of $1.62. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.32 billion.

Outlook:

Commodity cost inflation of approximately 3%.

Management reiterated the following expectations for 2024:

Positive comparable restaurant sales growth including the benefit of menu pricing actions;
Store week growth of approximately 8%, including a benefit of 2% from the 53rd week;
Wage and other labor inflation of 4% to 5%;
An effective income tax rate of approximately 14%; and
Total capital expenditures of $340 million to $350 million.

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

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