Texas Roadhouse (NASDAQ: TXRH) reported Q2 EPS of $1.79, $0.15 better than the analyst estimate of $1.64. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.34 billion.

2024 Outlook

Comparable restaurant sales at company restaurants for the first four weeks of our third quarter of fiscal 2024 increased 8.0% compared to 2023.

Management updated the following expectations for 2024:

Store week growth of approximately 7.5%, including a benefit of 2% from the 53rd week;
Commodity cost inflation of approximately 2%;
An effective income tax rate of approximately 14.5%; and
Total capital expenditures of $360 million to $370 million.

Management reiterated the following expectations for 2024:

Positive comparable restaurant sales growth including the benefit of menu pricing actions; and
Wage and other labor inflation of 4% to 5%.

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