Texas Roadhouse, Inc. Announces Third Quarter 2023 Results

About this update from Texas Roadhouse, Inc.

[{"type":"text","content":"LOUISVILLE, Ky., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 39 weeks ended September 26, 2023. Financial Results Financial results for the 13 and 39 weeks ended September 26, 2023 and September 27, 2022 were as follows: 13 Weeks Ended 39 Weeks Ended ($000's)September 26, 2023 September 27, 2022 % change September 26, 2023 September 27, 2022 % change Total revenue$1,121,752 $993,298 12.9 % $3,467,311 $3,005,390 15.4%Income from operations 73,859 75,288 (1.9)% 270,216 251,344 7.5%Net income 63,788 62,328 2.3 % 232,446 209,949 10.7%Diluted earnings per share$0.95 $0.93 2.6 % $3.46 $3.08 12.3% Results for the 13 weeks ended September 26, 2023, as compared to the prior year as applicable, included the following: Comparable restaurant sales increased 8.2% at company restaurants and increased 7.8% at domestic franchise restaurants;Average weekly sales at company restaurants were $138,668 of which $17,058 were to-go sales as compared to average weekly sales of $129,278 of which $16,305 were to-go sales in the prior year;Restaurant margin dollars increased 7.1% to $162.8 million from $152.0 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, decreased 80 basis points to 14.6% as commodity inflation of 4.2%, wage and other labor inflation of 5.6% and higher general liability insurance expenses were partially offset by higher sales;Diluted earnings per share increased 2.6% primarily driven by higher restaurant margin dollars and lower income tax expense partially offset by higher depreciation and amortization and higher general and administrative expenses;Nine company restaurants and four franchise restaurants were opened including the first Jaggers franchise restaurant; and,The Company repurchased 107,593 shares of common stock for $12.1 million. Results for the 39 weeks ended September 26, 2023, as compared to the prior year as applicable, included the following: Comparable restaurant sales increased 10.1% at both company restaurants and domestic franchise restaurants;Average weekly sales at company restaurants were $144,583 of which $18,189 were to-go sales as compared to average weekly sales of $132,356 of which $17,874 were to-go sales in the prior year;Restaurant margin dollars increas...

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