Texas Roadhouse (NASDAQ: TXRH) reported Q3 EPS of $0.75, $0.06 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $868.94 million versus the consensus estimate of $869.36 million.

Comparable restaurant sales at company restaurants increased 30.2% and 22.3% compared to 2020 and 2019, respectively1. Comparable restaurant sales at domestic franchise restaurants increased 33.5% and 20.4% compared to 2020 and 2019, respectively.

2021 Outlook

Comparable restaurant sales at company restaurants for the first four weeks of our fourth quarter of fiscal 2021 increased 22.6% and 23.6% compared to our 2020 and 2019 periods, respectively. In addition, the Company recently implemented a menu price increase of 4.2%.

Management updated the following expectations for 2021:

• Commodity cost inflation of approximately 10%.

Management reiterated the following expectations for 2021:

• 26 to 29 company restaurant openings across all concepts;
• Store week growth of approximately 5.0%; and,
• Total capital expenditures of approximately $200 million.

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