Texas Roadhouse (NASDAQ: TXRH) reported Q1 EPS of $1.08, $0.17 better than the analyst estimate of $0.91. Revenue for the quarter came in at $987.5 million versus the consensus estimate of $970.24 million.

GUIDANCE:

Comparable restaurant sales at company restaurants for the first five weeks of the second quarter of fiscal 2022 increased 9.3% compared to the prior year.

• Management reiterated the following expectations for 2022:
• Positive comparable restaurant sales growth including a menu price increase of 3.2% that was implemented in April;
• Approximately 25 Texas Roadhouse and Bubba's 33 company restaurant openings;
• Store week growth of approximately 6.5%, including the impact of the seven franchise locations acquired;
• Commodity cost inflation of 12% to 14% for the year;
• Wage and other labor inflation of approximately 7%;
• An effective income tax rate of approximately 15% excluding the impact of any legislative changes enacted; and,
• Total capital expenditures of approximately $230 million including as many as five relocations

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