Texas Roadhouse, Inc. Announces Third Quarter 2019 Results

About this update from Texas Roadhouse, Inc.

[{"type":"text","content":"LOUISVILLE, Ky., Oct. 28, 2019 (GLOBE NEWSWIRE) -- Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 39 week periods ended September 24, 2019. \n Third Quarter Year to Date($000's) 2019 2018 % Change 20192018% Change Total revenue $ 650,489 $ 594,595 9.4% $ 2,030,925 $ 1,851,5379.7%Income from operations 44,884 35,444 26.6% 158,612154,5822.6%Net income 36,531 29,125 25.4% 131,766127,8933.0%Diluted EPS $ 0.52 $ 0.40 29.1% $ 1.85 $ 1.783.9% Results for the third quarter included the following highlights: Comparable restaurant sales increased 4.4% at company restaurants and 3.2% at domestic franchise restaurants;Restaurant margin, as a percentage of restaurant and other sales, increased 49 basis points to 16.7%, as lower cost of sales due to the benefit of a higher average check was partially offset by higher labor costs driven by wage rate and other inflation. Restaurant margin dollars increased 12.7% to $108.0 million from $95.8 million in the prior year;Diluted earnings per share increased 29.1% to $0.52 from $0.40 in the prior year as higher restaurant margin dollars and a decrease in certain general and administrative expenses were partially offset by higher depreciation and amortization expense;Four company restaurants, including one Bubba’s 33 restaurant, and two international franchise restaurants were opened; andThe Company repurchased 358,381 shares of common stock for $18.9 million. Results for the year-to-date period included the following highlights: Comparable restaurant sales increased 4.8% at company restaurants and 4.0% at domestic franchise restaurants;Restaurant margin, as a percentage of restaurant and other sales, decreased 46 basis points to 17.4%, as higher labor costs driven by wage rate and other inflation was partially offset by lower cost of sales due to the benefit of a higher average check. Restaurant margin dollars increased 6.9% to $351.3 million from $328.6 million in the prior year;Diluted earnings per share increased 3.9% to $1.85 from $1.78 in the prior year;11 company restaurants, including one Bubba’s 33 restaurant, and six, primarily international, franchise restaurants were opened; andThe Company repurchased 2,455,058 shares of common stock for $131.0 million. Kent Taylor, Chief Executive Officer of Texas Roadhouse, Inc., commented, “We are pleased to del...

More updates from Texas Roadhouse, Inc.