Texas Roadhouse, Inc. Announces Fourth Quarter 2023 Results

About this update from Texas Roadhouse, Inc.

[{"type":"text","content":"Increases Quarterly Dividend 11% to $0.61 per Share\nLOUISVILLE, Ky., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 52 weeks ended December 26, 2023. Financial Results Financial results for the 13 and 52 weeks ended December 26, 2023 and December 27, 2022 were as follows: 13 Weeks Ended 52 Weeks Ended ($000's) December 26,2023 December 27,2022 % change December 26,2023 December 27,2022 % change Total revenue $1,164,361 $1,009,529 15.3%$4,631,672 $4,014,919 15.4% Income from operations 83,773 68,853 21.7% 353,989 320,197 10.6% Net income 72,430 59,869 21.0% 304,876 269,818 13.0% Diluted earnings per share $1.08 $0.89 21.3%$4.54 $3.97 14.3% Results for the 13 weeks ended December 26, 2023, as compared to the prior year as applicable, included the following: Comparable restaurant sales increased 9.9% at company restaurants and increased 8.9% at domestic franchise restaurants;Average weekly sales at company restaurants were $141,653 of which $17,793 were to-go sales as compared to average weekly sales of $130,176 of which $16,414 were to-go sales in the prior year;Restaurant margin dollars increased 21.4% to $176.7 million from $145.6 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, increased 75 basis points to 15.3% driven by higher sales partially offset by commodity inflation of 3.2%, wage and other labor inflation of 5.5% and higher general liability insurance expense;Diluted earnings per share increased 21.3% primarily driven by higher restaurant margin dollars partially offset by higher general and administrative expenses and higher depreciation and amortization expenses;12 company restaurants and seven franchise restaurants were opened; andThe Company repurchased 40,707 shares of common stock for $4.8 million. Results for the 52 weeks ended December 26, 2023, as compared to the prior year as applicable, included the following: Comparable restaurant sales increased 10.1% at company restaurants and increased 9.8% at domestic franchise restaurants;Average weekly sales at company restaurants were $143,837 of which $18,088 were to-go sales as compared to average weekly sales of $131,802 of which $17,504 were to-go sales in the prior year;Restaurant margin dollars increased 12.8% to ...

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