Texas Roadhouse Q1 2023: Revenue up 18.9% to $1.17B, EPS $1.28 (+18.4%)

Texas Roadhouse, Inc.

2023-Q1 EPS reported $1.28 revenue$1,174,356,000

Total revenue $1.174B (+18.9% YoY); diluted EPS $1.28 (+18.4% from $1.08).
Company comparable restaurant sales +12.9%; franchise comps +13.3%. Average weekly sales $148,437, to-go 12.8%.
Restaurant margin $185.7M (+15.2%), but margin rate 15.9% (-53 bps) due to 8.9% commodity and 8.0% labor inflation.
Opened 6 company restaurants and 1 international franchise; acquired 8 domestic franchise restaurants. Repurchased 92,751 shares for $9.6M.
Q2-to-date comps +8.6%; menu price increase of ~2.2% in late March. 2023 outlook reaffirmed: 25-30 company openings, capex ~$265M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Texas Roadhouse, Inc. reported the 13 weeks ended March 28, 2023 results: revenue $ 1,174,356, net income 86,387, EPS $ 1.28. Guidance reaffirmed.

Period: the 13 weeks ended March 28, 2023
Revenue: $ 1,174,356
Net income: 86,387
EPS: $ 1.28
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Texas Roadhouse, Inc. Announces First Quarter 2023 Results LOUISVILLE, KY. (May 4, 2023) – Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 weeks ended March 28, 2023. Financial Results Financial results for the 13 weeks ended March 28, 2023 and March 29, 2022 were as follows: First Quarter ($000’s) 2023 2022 % change Total revenue $ 1,174,356 $ 987,486 18.9 % Income from operations 100,945 90,138 12.0 % Net income 86,387 75,202 14.9 % Diluted earnings per share $ 1.28 $ 1.08 18.4 % Results for the first quarter, as compared to the prior year as applicable, included the following: · Comparable restaurant sales increased 12.9% at company restaurants and increased 13.3% at domestic franchise restaurants; · Average weekly sales at company restaurants were $148,437 of which 12.8% were to-go sales as compared to average weekly sales of $132,263 of which 14.8% were to-go sales in the prior year; · Restaurant margin dollars increased 15.2% to $185.7 million

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Source: SEC EDGAR

accession 0001104659-23-055995

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