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Texas Roadhouse, Inc. Announces Third Quarter 2024 Results

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Texas Roadhouse (TXRH) reported strong Q3 2024 financial results with total revenue increasing 13.5% to $1.27 billion. Comparable restaurant sales grew 8.5% at company restaurants and 7.2% at domestic franchise locations. Net income rose 32.3% to $84.4 million, with diluted EPS up 32.5% to $1.26. Restaurant margin improved to 16.0% from 14.6%, driven by higher sales and improved labor productivity despite wage inflation of 4.7% and commodity inflation of 1.3%. The company opened seven company restaurants and three franchise locations during Q3. Looking ahead to 2025, TXRH plans to acquire 13 domestic franchise restaurants and projects commodity inflation of 2-3% and wage inflation of 4-5%.

Texas Roadhouse (TXRH) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con un fatturato totale aumentato del 13,5% a 1,27 miliardi di dollari. Le vendite dei ristoranti comparabili sono cresciute dell'8,5% nei ristoranti di proprietà e del 7,2% nelle sedi in franchising domestico. L'utile netto è aumentato del 32,3% raggiungendo i 84,4 milioni di dollari, con un utile per azione diluito in crescita del 32,5% a 1,26 dollari. Il margine del ristorante è migliorato al 16,0% rispetto al 14,6%, grazie a vendite più elevate e a un miglioramento della produttività del lavoro, nonostante un'inflazione salariale del 4,7% e un'inflazione delle materie prime dell'1,3%. L'azienda ha aperto sette nuovi ristoranti di proprietà e tre location in franchising durante il terzo trimestre. Guardando al 2025, TXRH prevede di acquisire 13 ristoranti in franchising domestico e proietta un'inflazione delle materie prime del 2-3% e un'inflazione salariale del 4-5%.

Texas Roadhouse (TXRH) reportó resultados financieros sólidos para el tercer trimestre de 2024, con un aumento del 13,5% en los ingresos totales, alcanzando los 1,27 mil millones de dólares. Las ventas de restaurantes comparables crecieron un 8,5% en los restaurantes de la empresa y un 7,2% en las ubicaciones de franquicia nacionales. El ingreso neto aumentó un 32,3%, alcanzando los 84,4 millones de dólares, y la utilidad por acción diluida subió un 32,5% a 1,26 dólares. El margen de los restaurantes mejoró al 16,0% desde el 14,6%, impulsado por un aumento en las ventas y la mejora de la productividad laboral, a pesar de la inflación salarial del 4,7% y la inflación de las materias primas del 1,3%. La compañía abrió siete restaurantes propios y tres franquicias durante el tercer trimestre. Mirando hacia 2025, TXRH planea adquirir 13 restaurantes franquiciados nacionales y proyecta una inflación de materias primas del 2-3% y una inflación salarial del 4-5%.

텍사스 로드하우스(TXRH)는 2024년 3분기 재무 성과가 강하다고 보고했으며, 총 매출이 13.5% 증가하여 12억 7천만 달러에 달했습니다. 비교 가능한 레스토랑 매출은 본사 레스토랑에서 8.5%, 국내 프랜차이즈 위치에서 7.2% 증가했습니다. 순이익은 32.3% 증가하여 8,440만 달러에 도달했으며, 희석 주당순이익은 32.5% 상승하여 1.26 달러를 기록했습니다. 레스토랑 마진은 판매 증가와 노동 생산성 향상으로 14.6%에서 16.0%로 개선되었습니다. 임금 인플레이션이 4.7%이고 원자재 인플레이션이 1.3%인 상황에서도 이루어진 결과입니다. 회사는 3분기 동안 7개의 자사 레스토랑과 3개의 프랜차이즈 위치를 새로 열었습니다. 2025년을 바라보며 TXRH는 13개의 국내 프랜차이즈 레스토랑 인수를 계획하고 있으며, 원자재 인플레이션을 2-3%, 임금 인플레이션을 4-5%로 예상하고 있습니다.

Texas Roadhouse (TXRH) a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec un chiffre d'affaires total en hausse de 13,5%, atteignant 1,27 milliard de dollars. Les ventes de restaurants comparables ont augmenté de 8,5% dans les restaurants de la société et de 7,2% dans les emplacements de franchise domestiques. Le bénéfice net a augmenté de 32,3%, atteignant 84,4 millions de dollars, tandis que le résultat par action diluée a progressé de 32,5% à 1,26 dollar. La marge de restaurant s'est améliorée à 16,0% contre 14,6%, soutenue par des ventes plus élevées et une meilleure productivité du travail, malgré une inflation salariale de 4,7% et une inflation des matières premières de 1,3%. L'entreprise a ouvert sept restaurants de la société et trois emplacements franchisés au cours du troisième trimestre. En regardant vers 2025, TXRH prévoit d'acquérir 13 restaurants franchisés nationaux et projette une inflation des matières premières de 2 à 3% et une inflation salariale de 4 à 5%.

Texas Roadhouse (TXRH) berichtete von starken finanziellen Ergebnissen für das dritte Quartal 2024, wobei der Gesamtumsatz um 13,5% auf 1,27 Milliarden Dollar stieg. Die vergleichbaren Restaurantverkäufe wuchsen um 8,5% in den firmeneigenen Restaurants und um 7,2% an den nationalen Franchise-Standorten. Der Nettogewinn stieg um 32,3% auf 84,4 Millionen Dollar, während das verwässerte Ergebnis je Aktie um 32,5% auf 1,26 Dollar zulegte. Die Restaurantmarge verbesserte sich auf 16,0% von 14,6%, angetrieben durch höhere Umsätze und verbesserte Arbeitsproduktivität, trotz einer Lohninflation von 4,7% und einer Rohstoffinflation von 1,3%. Das Unternehmen eröffnete im dritten Quartal sieben eigene Restaurants und drei Franchise-Standorte. Für 2025 plant TXRH die Übernahme von 13 nationalen Franchise-Restaurants und erwartet eine Rohstoffinflation von 2-3% sowie eine Lohninflation von 4-5%.

Positive
  • Revenue growth of 13.5% to $1.27 billion in Q3 2024
  • Net income increased 32.3% to $84.4 million
  • Comparable restaurant sales up 8.5% at company restaurants
  • Restaurant margin improved to 16.0% from 14.6%
  • Average weekly sales increased to $149,176 from $138,668
  • Planned acquisition of 13 domestic franchise restaurants
Negative
  • Wage and labor inflation of 4.7% in Q3 2024
  • Projected commodity inflation of 2-3% for 2025
  • Expected wage and labor inflation of 4-5% for 2025

Insights

Texas Roadhouse delivered exceptional Q3 2024 results with total revenue up 13.5% to $1.27 billion. The standout metrics include comparable restaurant sales growth of 8.5% at company restaurants and impressive margin expansion, with restaurant margin increasing to 16.0% from 14.6%. Diluted EPS jumped 32.5% to $1.26.

The company's expansion strategy remains robust with 7 new company restaurants and 3 franchise locations opened in Q3. The planned acquisition of 13 domestic franchise restaurants signals strategic growth. Strong cash flow management is evident with balanced capital allocation across expansion ($91.1M CAPEX), shareholder returns ($40.7M dividends) and share repurchases ($9.6M).

Looking ahead, management's 2025 outlook suggests continued momentum with positive comp sales growth and 5% store week growth, though facing increased commodity inflation of 2-3%.

The restaurant sector performance indicates TXRH's exceptional operational execution in a challenging environment. Average weekly sales reached $149,176 per restaurant, with digital/to-go sales maintaining strength at $18,914 per week. The company's ability to grow traffic across all brands while implementing price increases (0.9% in September) demonstrates strong brand equity and pricing power.

Labor management has been particularly impressive, with improved productivity offsetting 4.7% wage inflation. The planned $400M capital expenditure for 2025 and franchise acquisition strategy position TXRH for sustainable market share gains in the casual dining segment. The company's balanced approach to growth, margin expansion and shareholder returns creates a compelling investment case.

LOUISVILLE, Ky., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 39 weeks ended September 24, 2024.

Financial Results

Financial results for the 13 and 39 weeks ended September 24, 2024 and September 26, 2023 were as follows:

                   
  13 Weeks Ended  39 Weeks Ended 
($000's, except per share amounts) September 24, 2024 September 26, 2023 % change  September 24, 2024 September 26, 2023 % change 
Total revenue $ 1,272,999 $ 1,121,752 13.5% $ 3,935,418 $ 3,467,311  13.5%
Income from operations   102,023   73,859 38.1%   377,967   270,216  39.9%
Net income   84,412   63,788 32.3%   317,759   232,446  36.7%
Diluted earnings per share $ 1.26 $ 0.95 32.5% $ 4.74 $ 3.46  37.0%

Results for the 13 weeks ended September 24, 2024, as compared to the prior year as applicable, included the following:

  • Comparable restaurant sales increased 8.5% at company restaurants and increased 7.2% at domestic franchise restaurants;
  • Average weekly sales at company restaurants were $149,176 of which $18,914 were to-go sales as compared to average weekly sales of $138,668 of which $17,058 were to-go sales in the prior year;
  • Restaurant margin dollars increased 24.1% to $202.1 million from $162.8 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, increased to 16.0% from 14.6% in the prior year driven primarily by higher sales. The benefit of a higher average guest check and improved labor productivity more than offset wage and other labor inflation of 4.7% and commodity inflation of 1.3%;
  • Diluted earnings per share increased 32.5% primarily driven by higher restaurant margin dollars partially offset by higher general and administrative expenses and higher depreciation and amortization expenses;
  • Seven company restaurants and three franchise restaurants were opened; and
  • Capital allocation spend included capital expenditures of $91.1 million, dividends of $40.7 million, and repurchases of common stock of $9.6 million.

Results for the 39 weeks ended September 24, 2024, as compared to the prior year as applicable, included the following:

  • Comparable restaurant sales increased 8.8% at company restaurants and increased 7.7% at domestic franchise restaurants;
  • Average weekly sales at company restaurants were $155,807 of which $19,894 were to-go sales as compared to average weekly sales of $144,583 of which $18,189 were to-go sales in the prior year;
  • Restaurant margin dollars increased 26.7% to $673.1 million from $531.3 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, increased to 17.2% from 15.4% in the prior year driven primarily by higher sales. The benefit of a higher average guest check and improved labor productivity more than offset wage and other labor inflation of 4.5% and commodity inflation of 0.8%;
  • Diluted earnings per share increased 37.0% primarily driven by higher restaurant margin dollars partially offset by higher general and administrative expenses and higher depreciation and amortization expenses;
  • 22 company restaurants and nine franchise restaurants were opened; and
  • Capital allocation spend included capital expenditures of $246.5 million, dividends of $122.2 million, and repurchases of common stock of $44.7 million.

Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc. commented, “We are extremely pleased in such a competitive environment to report another quarter of continued traffic growth at each of our brands. This is a credit to the hard work of our operators who create an environment where Roadies want to work and guests want to dine.”

Morgan continued, “Looking ahead to 2025, we once again have a strong development pipeline and as of today already have 10 of our new company restaurants under construction. We remain confident that this new store growth along with our planned franchise acquisition and overall capital allocation strategy will allow us to continue to generate long-term shareholder value.”

Franchise Acquisition

The Company has tentatively agreed to acquire 13 domestic franchise restaurants with a targeted close date as of the beginning of our 2025 fiscal year. These acquisitions are subject to the completion of customary negotiations and due diligence.

2024 Outlook

Comparable restaurant sales at company restaurants for the first four weeks of our fourth quarter of fiscal 2024 increased 8.3% compared to 2023. In addition, the Company implemented a menu price increase of approximately 0.9% in late September.

Management updated the following expectations for 2024:

  • Commodity cost inflation of less than 1%;
  • Wage and other labor inflation of approximately 4.5%; and
  • An effective income tax rate of approximately 15%.

Management reiterated the following expectations for 2024:

  • Positive comparable restaurant sales growth including the benefit of menu pricing actions;
  • Store week growth of approximately 7.5%, including a benefit of 2% from the 53rd week; and
  • Total capital expenditures of $360 million to $370 million.

2025 Outlook

Management provided the following initial expectations for 2025:

  • Positive comparable restaurant sales growth including the benefit of 2024 menu pricing actions;
  • Store week growth of approximately 5%, including a benefit of 2% from the planned franchise acquisition;
  • Commodity cost inflation of 2% to 3%;
  • Wage and other labor inflation of 4% to 5%;
  • An effective income tax rate of 15% to 16%; and
  • Total capital expenditures of approximately $400 million.

Non-GAAP Measures

The Company prepares the consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). Within the press release, the Company makes reference to restaurant margin (in dollars, as a percentage of restaurant and other sales, and per store week). Restaurant margin represents restaurant and other sales less restaurant-level operating costs, including food and beverage costs, labor, rent, and other operating costs. Restaurant margin should not be considered in isolation, or as an alternative, to income from operations. This non-GAAP measure is not indicative of overall company performance and profitability in that this measure does not accrue directly to the benefit of shareholders due to the nature of the costs excluded. Restaurant margin is widely regarded as a useful metric by which to evaluate core restaurant-level operating efficiency and performance over various reporting periods on a consistent basis. In calculating restaurant margin, the Company excludes certain non-restaurant-level costs that support operations, but do not have a direct impact on restaurant-level operational efficiency and performance, including general and administrative expenses. The Company excludes pre-opening expenses as they occur at irregular intervals and would impact comparability to prior period results. The Company excludes depreciation and amortization expenses, substantially all of which relate to restaurant-level assets, as they represent a non-cash charge for the investment in restaurants. The Company excludes impairment and closure expenses as it believes this provides a clearer perspective of ongoing operating performance and a more useful comparison to prior period results. Restaurant margin as presented may not be comparable to other similarly titled measures of other companies in the industry. A reconciliation of income from operations to restaurant margin is included in the accompanying financial tables.

Conference Call

Texas Roadhouse, Inc. is hosting a conference call today, October 24, 2024, at 5:00 p.m. Eastern Time to discuss these results. The call will be webcast live from the investor relations portion of the Company’s website at www.texasroadhouse.com. Listeners may also access the call by dialing (888) 440-5667 or (646) 960-0476 for international calls and referencing the Texas Roadhouse, Inc. Third Quarter 2024 Earnings. A replay of the call will be available until October 31, 2024, by dialing (800) 770-2030 or (609) 800-9909 for international calls and using conference ID 7714420.

About the Company

Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 770 restaurants system-wide in 49 states, one U.S. territory, and ten foreign countries. For more information, please visit the Company’s Web site at www.texasroadhouse.com.

Forward-looking Statements

Certain statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon the current beliefs and expectations of the management of Texas Roadhouse, Inc. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, conditions beyond management’s control such as weather, natural disasters, disease outbreaks, epidemics, or pandemics impacting customers or food supplies; labor or supply chain shortages or limited availability of staff or product needed to meet its business standards; changes in consumer discretionary spending and macroeconomic conditions, including inflationary pressures; food safety, and food-borne illness concerns; and other factors disclosed from time to time in its filings with the U.S. Securities and Exchange Commission. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Part I—Item 1A. Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 26, 2023. These factors should not be construed as exhaustive and should be read in conjunction with other filings with the Securities and Exchange Commission. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.


Contacts: 
  
Investor RelationsMedia
Michael BailenTravis Doster
(502) 515-7298(502) 638-5457


Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(in thousands, except per share data)
(unaudited)
               
 13 Weeks Ended 39 Weeks Ended
 September 24,
2024
 September 26,
2023
 September 24,
2024
 September 26,
2023
Revenue:              
Restaurant and other sales$1,265,279  $1,115,224  $3,913,073  $3,447,192 
Franchise royalties and fees 7,720   6,528   22,345   20,119 
Total revenue 1,272,999   1,121,752   3,935,418   3,467,311 
Costs and expenses:              
Restaurant operating costs (excluding depreciation and amortization shown separately below):              
Food and beverage 424,566   386,184   1,305,658   1,198,099 
Labor 427,470   378,814   1,293,229   1,155,970 
Rent 20,162   18,177   59,543   54,001 
Other operating 191,011   169,225   581,515   507,846 
Pre-opening 7,282   8,663   21,579   19,711 
Depreciation and amortization 44,510   39,124   128,918   112,764 
Impairment and closure, net 844   (2)  1,135   131 
General and administrative 55,131   47,708   165,874   148,573 
Total costs and expenses 1,170,976   1,047,893   3,557,451   3,197,095 
Income from operations 102,023   73,859   377,967   270,216 
Interest income, net 1,916   496   5,007   2,730 
Equity income from investments in unconsolidated affiliates 235   139   778   1,181 
Income before taxes 104,174   74,494   383,752   274,127 
Income tax expense 17,400   8,870   57,913   35,474 
Net income including noncontrolling interests 86,774   65,624   325,839   238,653 
Less: Net income attributable to noncontrolling interests 2,362   1,836   8,080   6,207 
Net income attributable to Texas Roadhouse, Inc. and subsidiaries$84,412  $63,788  $317,759  $232,446 
               
Net income per common share attributable to Texas Roadhouse, Inc. and subsidiaries:              
Basic$1.27  $0.96  $4.76  $3.47 
Diluted$1.26  $0.95  $4.74  $3.46 
Weighted average shares outstanding:              
Basic 66,704   66,779   66,777   66,923 
Diluted 66,943   67,014   67,023   67,179 
Cash dividends declared per share$0.61  $0.55  $1.83  $1.65 



Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
        
 September 24, 2024 December 26, 2023
Cash and cash equivalents$189,205  $104,246 
Other current assets, net 118,196   252,228 
Property and equipment, net 1,574,465   1,474,722 
Operating lease right-of-use assets, net 747,799   694,014 
Goodwill 169,684   169,684 
Intangible assets, net 1,679   3,483 
Other assets 112,787   94,999 
Total assets$2,913,815  $2,793,376 
        
Current liabilities 627,564   745,434 
Operating lease liabilities, net of current portion 802,576   743,476 
Other liabilities 160,431   146,955 
Texas Roadhouse, Inc. and subsidiaries stockholders’ equity 1,308,290   1,141,662 
Noncontrolling interests 14,954   15,849 
Total liabilities and equity$2,913,815  $2,793,376 


Texas Roadhouse, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
      
 39 Weeks Ended
 September 24, 2024 September 26, 2023
Cash flows from operating activities:     
Net income including noncontrolling interests$325,839  $238,653 
Adjustments to reconcile net income to net cash provided by operating activities     
Depreciation and amortization 128,918   112,764 
Share-based compensation expense 33,154   25,266 
Deferred income taxes (9,592)  2,707 
Other noncash adjustments, net 3,667   3,672 
Change in working capital, net of acquisitions 34,103   7,677 
Net cash provided by operating activities 516,089   390,739 
Cash flows from investing activities:     
Capital expenditures - property and equipment (246,539)  (243,895)
Acquisitions of franchise restaurants, net of cash acquired    (39,153)
Proceeds from sale of investments in unconsolidated affiliates    632 
Proceeds from sale of property and equipment 197   1,800 
Proceeds from sale leaseback transactions 9,126   7,097 
Net cash used in investing activities (237,216)  (273,519)
Cash flows from financing activities:     
Payments on revolving credit facility    (50,000)
Repurchase of shares of common stock (44,689)  (45,193)
Dividends paid to shareholders (122,205)  (110,429)
Other financing activities, net (27,020)  (16,135)
Net cash used in financing activities (193,914)  (221,757)
Net increase (decrease) in cash and cash equivalents 84,959   (104,537)
Cash and cash equivalents - beginning of period 104,246   173,861 
Cash and cash equivalents - end of period$189,205  $69,324 



Texas Roadhouse, Inc. and Subsidiaries
Reconciliation of Income from Operations to Restaurant Margin
($ in thousands)
(unaudited)
              
 13 Weeks Ended 39 Weeks Ended 
 September 24,
2024
 September 26,
2023
 September 24,
2024
 September 26,
2023
 
Income from operations$102,023  $73,859  $377,967  $270,216 
              
Less:             
Franchise royalties and fees 7,720   6,528   22,345   20,119 
              
Add:             
Pre-opening 7,282   8,663   21,579   19,711 
Depreciation and amortization 44,510   39,124   128,918   112,764 
Impairment and closure, net 844   (2)  1,135   131 
General and administrative 55,131   47,708   165,874   148,573 
              
Restaurant margin$202,070  $162,824  $673,128  $531,276 
              
Restaurant margin(as a percentage of restaurant and other sales) 16.0%  14.6%  17.2%  15.4%



Texas Roadhouse, Inc. and Subsidiaries
Supplemental Financial and Operating Information
($ amounts in thousands, except restaurant margin $ per
store week and weekly sales by group)
(unaudited)
 
 13 Weeks Ended 
 September 24, 2024 September 26, 2023 Change
Company restaurants (all concepts)        
Restaurant and other sales$1,265,279 $1,115,224 13.5%
Store weeks 8,496  8,032 5.8%
Comparable restaurant sales (1) 8.5% 8.2%  
         
Restaurant operating costs (as a % of restaurant and other sales)        
Food and beverage costs 33.5% 34.6%107bps
Labor 33.8% 34.0%18bps
Rent 1.6% 1.6%4bps
Other operating 15.1% 15.2%8bps
Total 84.0% 85.4%  
         
Restaurant margin % 16.0% 14.6%137bps
Restaurant margin $$202,070 $162,824 24.1%
Restaurant margin $/Store week$23,784 $20,272 17.3%
         
Texas Roadhouse restaurants only:        
Store weeks 7,768  7,394 5.1%
Comparable restaurant sales (1) 8.7% 8.4%  
Average unit volume (2)$1,990 $1,840 8.2%
Weekly sales by group:        
Comparable restaurants (560 and 542 units)$153,870 $141,675 8.6%
Average unit volume restaurants (22 and 18 units)$132,430 $138,439 (4.3)%
Restaurants less than 6 months old (19 and 13 units)$142,628 $141,409 0.9%
         
Bubba’s 33 restaurants only:        
Store weeks 624  547 14.1%
Comparable restaurant sales (1) 5.3% 4.8%  
Average unit volume (2)$1,502 $1,437 4.5%
Weekly sales by group:        
Comparable restaurants (40 and 36 units)$116,330 $112,447 3.5%
Average unit volume restaurants (5 and 4 units)$109,485 $93,012 17.7%
Restaurants less than 6 months old (3 and 3 units)$140,369 $129,941 8.0%
         
Texas Roadhouse franchise restaurants only:        
Store weeks 1,437  1,258 14.2%
Comparable restaurant sales 6.7% 7.1%  
U.S. franchise restaurants only:        
Comparable restaurant sales (1) 7.2% 7.8%  
Average unit volume (2)$2,090  2,009 4.0%
         
_______________

(1) Comparable restaurant sales reflect the change in sales for all company restaurants across all concepts, unless otherwise noted, over the same period of the prior year for restaurants open a full 18 months before the beginning of the period, excluding sales from restaurants permanently closed during the period.
(2) Average unit volume includes sales from restaurants open for a full six months before the beginning of the period, excluding sales from restaurants permanently closed during the period, if applicable.
Amounts may not foot due to rounding.

 



Texas Roadhouse, Inc. and Subsidiaries
Restaurant Unit Activity
(unaudited)
         
  13 Weeks Ended  39 Weeks Ended 
  September 24, 2024September 26, 2023Change September 24, 2024September 26, 2023Change
Restaurant openings        
Company - Texas Roadhouse 77  1913 6 
Company - Bubba’s 33 2(2) 33  
Company - Jaggers   2 (2)
Total company restaurants 79(2) 2218 4 
         
Franchise - Texas Roadhouse - Domestic   1 (1)
Franchise - Jaggers - Domestic 1(1) 11  
Franchise - Texas Roadhouse - Int'l (1) 33  86 2 
Total franchise restaurants 34(1) 98 1 
         
Total restaurants 1013(3) 3126 5 
         
Restaurant acquisitions/dispositions        
Company - Texas Roadhouse   8 (8)
Franchise - Texas Roadhouse - Domestic   (8)8 
         
Restaurant closures        
Franchise - Texas Roadhouse - Domestic   (1)1 
         
Restaurants open at the end of the quarter        
Company - Texas Roadhouse 60157328     
Company - Bubba’s 33 48435     
Company - Jaggers 871     
Total company restaurants 65762334     
         
Franchise - Texas Roadhouse - Domestic 56542     
Franchise - Jaggers - Domestic 312     
Franchise - Texas Roadhouse - Int'l (1) 564412     
Total franchise restaurants 1159916     
         
Total restaurants 77272250     
 
_______________

(1) Includes a U.S. territory.

FAQ

What was Texas Roadhouse (TXRH) revenue growth in Q3 2024?

Texas Roadhouse reported a 13.5% increase in total revenue to $1.27 billion in Q3 2024 compared to the same period last year.

How much did TXRH comparable restaurant sales increase in Q3 2024?

Comparable restaurant sales increased 8.5% at company restaurants and 7.2% at domestic franchise restaurants in Q3 2024.

What was Texas Roadhouse's earnings per share in Q3 2024?

Texas Roadhouse reported diluted earnings per share of $1.26 in Q3 2024, representing a 32.5% increase from $0.95 in the prior year.

How many new restaurants did TXRH open in Q3 2024?

Texas Roadhouse opened seven company restaurants and three franchise restaurants during Q3 2024.

Texas Roadhouse, Inc.

NASDAQ:TXRH

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13.23B
66.79M
0.5%
93.33%
3.03%
Restaurants
Retail-eating Places
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United States of America
LOUISVILLE