Texas Roadhouse (NASDAQ: TXRH) reported Q1 EPS of $0.46, $0.02 better than the analyst estimate of $0.44. Revenue for the quarter came in at $460.23 million versus the consensus estimate of $465.8 million. Comparable restaurant sales increased 8.9% at company restaurants and 8.0% at franchise restaurants.

2015 Outlook

The Company reported that comparable restaurant sales at company restaurants for the first four weeks of its second quarter of fiscal 2015 increased approximately 8.4% compared to the prior year period.

Management reiterated the following expectations for 2015:

• Positive comparable restaurant sales growth;
• 25 to 30 company restaurant openings, including as many as five Bubba's 33 restaurants;
• Food cost inflation of 3% to 4%;
• An income tax rate of approximately 30.0% to 31.0% depending on the reinstatement of certain federal tax credits; and
• Total capital expenditures of $135 million to $145 million.

Kent Taylor, Chief Executive Officer of Texas Roadhouse, Inc., commented, "We are off to a strong start for the year with another quarter of solid revenue growth driven by increasing guest counts and new restaurant development. We credit our success to our value proposition with consumers and our ability to execute at the restaurant level even in the face of continued commodity inflation. Our development plans for 2015 remain on track with 25 to 30 company restaurant openings this year."

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