Fri, Aug 2, 1:09 PM (88 days ago)
Texas Roadhouse, Inc. reported a strong financial performance for Q2 2024. Total revenue increased by 14.5% year-over-year to $1.34 billion, driven by a 9.3% rise in comparable restaurant sales and a 5.6% increase in store weeks. Net income surged 46.0% to $120.1 million, and diluted EPS rose 46.4% to $1.79. Restaurant margin improved to 18.2% from 15.7%, supported by higher sales and operational efficiencies, despite facing 4.4% labor inflation and 0.4% commodity inflation. The company opened 15 new restaurants in the first half of 2024, contributing to a 13.5% year-to-date revenue growth. Cash flow from operations increased significantly to $377.3 million, enabling capital expenditures of $155.5 million, dividend payments of $40.7 million, and $26.2 million in share repurchases. Texas Roadhouse remains financially robust with no outstanding borrowings and $295.3 million available under its credit facility. The company anticipates continued growth with planned capital expenditures of $360-$370 million for the full year 2024.