Texas Roadhouse, Inc. Announces Strong Third Quarter 2024 Financial Results

Texas Roadhouse, Inc. (NASDAQ: TXRH) released its financial results for the third quarter ending September 24, 2024. The company reported impressive financial figures, showcasing notable growth in various key metrics.

For the 13-week period ended September 24, 2024, total revenue amounted to $1,272,999, reflecting a 13.5% increase compared to the same period in the previous year. Income from operations saw a significant rise of 38.1%, reaching $102,023, compared to $73,859 in the prior year. Net income also surged to $84,412, marking a 32.3% increase from $63,788 in the previous year. Diluted earnings per share stood at $1.26, up by 32.5% from $0.95 in the same period last year.

The company’s performance was driven by various factors, including an 8.5% growth in comparable restaurant sales at company-owned locations, with average weekly sales per restaurant showing a notable increase. Restaurant margin dollars also saw a substantial rise of 24.1%, primarily due to higher sales. Texas Roadhouse opened seven company restaurants and three franchise restaurants during this period.

Looking ahead to the remainder of 2024 and into 2025, Texas Roadhouse expressed optimism regarding its growth prospects. With a robust development pipeline and ongoing construction of new company restaurants, the company aims to enhance shareholder value through expansion efforts. Management provided estimates for 2024, including expectations of positive comparable restaurant sales growth, store week growth, and specific capital expenditure projections.

Additionally, Texas Roadhouse announced plans to acquire 13 domestic franchise restaurants as part of its growth strategy, subject to the completion of negotiations and due diligence.

During a conference call to discuss these results on October 24, 2024, Jerry Morgan, the Chief Executive Officer of Texas Roadhouse, Inc., recognized the dedication of the company’s operators and highlighted the sustained traffic growth across all brands, emphasizing a positive outlook for the future.

The company’s financial filings further revealed detailed information about its restaurant unit activities, operating margins, and strategic initiatives aimed at long-term growth and value creation for its shareholders.

Investors and stakeholders can access additional details about Texas Roadhouse, Inc.’s financial performance and future projections on the company’s official website.

This press release contains forward-looking statements related to the company’s future performance and should be read in conjunction with the company’s filings with the U.S. Securities and Exchange Commission for a comprehensive understanding of the associated risks.

For more information about Texas Roadhouse, Inc. and its subsidiaries, visit www.texasroadhouse.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Texas Roadhouse’s 8K filing here.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.