Texas Roadhouse (NASDAQ: TXRH) reported Q1 EPS of $0.48, $0.10 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $567.7 million versus the consensus estimate of $560.94 million.

• Comparable restaurant sales increased 3.1% at company restaurants and 3.8% at domestic franchise restaurants;
• Restaurant margin, as a percentage of restaurant sales, decreased 21 basis points to 19.9%, primarily driven by wage rate inflation, partially offset by the benefit of lower food costs;
• Results for the quarter included a pre-tax charge of $14.9 million ($9.2 million after-tax), or $0.13 per diluted share, related to a previously disclosed legal matter which was settled during March 2017. The impact of the legal charge was partially offset by a pre-tax charge recorded in the first quarter of 2016 of $5.5 million ($3.4 million after-tax) related to a separate legal matter which had an impact of $0.05 on diluted earnings per share in that quarter;
• Diluted earnings per share decreased 4.4% to $0.48 from $0.50 in the prior year; and,
• Six company-owned restaurants and two franchise restaurants were opened.

Kent Taylor, Chief Executive Officer of Texas Roadhouse, Inc., commented, "We are pleased with our top-line momentum and operating performance in the first quarter of 2017 with positive comparable restaurant sales and traffic growth, which continued through the first four weeks of the second quarter. We credit our success to our operators’ ability to execute on our mission of Legendary Food and Legendary Service every single shift. In addition, we remain committed to investing in new restaurant growth that generates solid returns and allows us to maintain a conservative capital structure."

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