Texas Roadhouse (NASDAQ: TXRH) reported Q4 EPS of $1.08, $0.02 better than the analyst estimate of $1.06. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.16 billion.

2024 Outlook

Comparable restaurant sales at company restaurants for the first 50 days of our first quarter of fiscal 2024 increased 6.8% compared to 2023. In addition, the Company plans to implement a menu price increase of approximately 2.2% in late March.

Management updated the following expectations for 2024:

Commodity cost inflation of approximately 5%; and
An effective income tax rate of approximately 14%.

Management reiterated the following expectations for 2024:

Positive comparable restaurant sales growth including the benefit of 2023 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%; and
Total capital expenditures of $340 million to $350 million.

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