Texas Roadhouse, Inc. Announces Second Quarter 2021 Results

About this update from Texas Roadhouse, Inc.

[{"type":"text","content":"LOUISVILLE, Ky., July 29, 2021 (GLOBE NEWSWIRE) -- Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 26 weeks ended June 29, 2021 and provided a business update. Financial Results Financial results for the 13 and 26 weeks ended June 29, 2021, June 30, 2020, and June 25, 2019 were as follows: Second Quarter($000's) % change 2021 2020 2019 vs. 2020 vs. 2019Total revenue$898,788 $476,425 $689,828 88.7% 30.3%Income (loss) from operations 89,728 (47,318) 53,283 289.6% 68.4%Net income (loss) 75,480 (33,553) 44,845 325.0% 68.3%Diluted earnings (loss) per share$1.08 $(0.48) $0.63 322.4% 72.1% Year to Date % change 2021 2020 2019 vs. 2020 vs. 2019Total revenue$1,699,417 $1,128,949 $1,380,436 50.5% 23.1%Income (loss) from operations 170,655 (31,528) 113,728 641.3% 50.1%Net income (loss) 139,630 (17,524) 95,235 896.8% 46.6%Diluted earnings (loss) per share$1.99 $(0.25) $1.32 888.3% 50.4% Results for the second quarter included the following: Comparable restaurant sales at company restaurants increased 80.2% and 21.3% compared to 2020 and 2019, respectively1. Comparable restaurant sales at domestic franchise restaurants increased 76.5% and 19.4% compared to 2020 and 2019, respectively;Eight company restaurants, including two Bubba’s 33 restaurants, and two franchise restaurants were opened;Restaurant margin, as a percentage of restaurant and other sales, was 17.7% and restaurant margin dollars were $158.2 million. Restaurant margin was impacted by an increase in comparable restaurant sales partially offset by commodity inflation and higher costs related to the pandemic;Diluted earnings per share increased to $1.08 from a diluted loss per share of ($0.48) in the prior year due to the increase in comparable restaurant sales and the prior year impact of the pandemic; and,The Company ended the quarter with debt of $190.0 million and $483.4 million of cash on hand. Results for the year-to-date period included the following highlights: Comparable restaurant sales at company restaurants increased 44.5% and 14.9% compared to 2020 and 2019, respectively1. Comparable restaurant sales at domestic franchise restaurants increased 41.1% and 12.2% compared to 2020 and 2019, respectively;11 company restaurants, including three Bubba’s 33 restaurants, and two franchise restaurants were opened;Restaurant margin, as a pe...

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