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Texas Roadhouse, Inc. Announces Second Quarter 2025 Results

Declares Quarterly Dividend of $0.68 per Share

LOUISVILLE, Ky., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Texas Roadhouse,听Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 26 weeks ended July听1, 2025.

Financial Results

Financial results for the 13 and 26 weeks ended July听1, 2025 and June听25, 2024 were as follows:

Results for the 13 weeks ended July 1, 2025, as compared to the prior听year as applicable, included the following:

• Comparable restaurant sales increased 5.8% at company restaurants;
• Average weekly sales at company restaurants were $167,350 of which $22,243 were to-go sales as compared to average weekly sales of $158,991 of which $19,975 were to-go sales in the prior听year;
• Restaurant margin dollars increased 6.1% to $257.3 million from $242.6 million in the prior听year primarily due to higher sales. Restaurant margin, as a听percentage of restaurant and other sales, decreased 108 basis points to 17.1% as commodity inflation of 5.2% and wage and other labor inflation of 3.8% were partially offset by higher sales;
• Diluted earnings per share increased 4.0% primarily driven by higher restaurant margin dollars and the impact of share repurchases partially offset by higher depreciation and amortization expenses and higher general and administrative expenses;
• Four company restaurants and one franchise restaurant were opened; and
• Capital allocation spend included capital expenditures of $92.5 million, franchise acquisitions of $15.5 million, dividends of $45.1 million, and repurchases of common stock of $9.8 million.

Results for the 26 weeks ended July 1, 2025, as compared to the prior听year as applicable, included the following:

• Comparable restaurant sales increased 4.7% at company restaurants;
• Average weekly sales at company restaurants were $165,228 of which $22,195 were to-go sales as compared to average weekly sales of $159,184 of which $20,392 were to-go sales in the prior听year;
• Restaurant margin dollars increased 5.4% to $496.6 million from $471.1 million in the prior听year primarily due to higher sales. Restaurant margin, as a听percentage of restaurant and other sales, decreased 92 basis points to 16.9% as commodity inflation of 3.7% and wage and other labor inflation of 4.2% were partially offset by higher sales;
• Diluted earnings per share increased 2.5% primarily driven by higher restaurant margin dollars and the impact of share repurchases partially offset by higher depreciation and amortization expenses and higher general and administrative expenses;
• 12 company restaurants and one franchise restaurant were opened; and
• Capital allocation spend included capital expenditures of $169.9 million, franchise acquisitions of $93.9 million, dividends of $90.3 million, and repurchases of common stock of $60.0 million.

Jerry Morgan, Chief Executive Officer of Texas Roadhouse,听Inc., commented, 鈥淥ur operators delivered another quarter of strong comparable restaurant sales growth driven by positive traffic across all three of our brands. While we expect commodity inflation to further impact our profitability for the rest of the year, we remain focused on what we can control鈥� preserving our value proposition and maintaining a relentless focus on operational excellence across all our brands.鈥�

Morgan added, 鈥淥n the development front, we were excited to recently open our 800^th system-wide restaurant, a milestone that reflects our ongoing commitment to growth. With a disciplined capital allocation strategy, including a focus on new store development and strategic franchise acquisitions, we鈥檙e confident in our ability to drive long-term shareholder value.鈥�

Franchise Acquisitions

The Company has a tentative agreement or plans in place to acquire eight domestic franchise restaurants as of the beginning of our Q4 2025 and Q1 2026 fiscal periods. These acquisitions are subject to the completion of customary due diligence.

2025 Outlook

Comparable restaurant sales at company restaurants for the first five weeks of our third quarter of fiscal 2025 increased听5.3% compared to 2024.

Management updated the following expectations for 2025:

• Commodity cost inflation of approximately 5%, including the estimated impact of tariffs;
• Wage and other labor inflation of approximately 4%; and
• An effective income tax rate of approximately 15%.
  

Management reiterated the following expectations for 2025:

• Positive comparable restaurant sales growth, including the benefit of menu pricing actions;
• Store week growth of approximately 5%; and
• Total capital expenditures of approximately $400 million.
  

Cash Dividend Payment

On August听6, 2025, the Company鈥檚 Board of Directors approved the payment of a quarterly cash dividend of $0.68 per share of common stock. This payment will be distributed on September 30, 2025, to shareholders of record at the close of business on September 2, 2025.

Non-GAAP Measures

The Company prepares the condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (鈥淕AAP鈥�). Within the press release, the Company makes reference to restaurant margin (in dollars, as a听percentage of restaurant and other sales, and per store week). Restaurant margin represents restaurant and other sales less restaurant-level operating costs, including food and beverage costs, labor, rent, and other operating costs. Restaurant margin should not be considered in isolation, or as an alternative, to income from operations. This non-GAAP measure is not indicative of overall company performance and profitability in that this measure does not accrue directly to the benefit of shareholders due to the nature of the costs excluded. Restaurant margin is widely regarded as a useful metric by which to evaluate core restaurant-level operating efficiency and performance over various reporting periods on a consistent basis. In calculating restaurant margin, the Company excludes certain non-restaurant-level costs that support operations, but do not have a direct impact on restaurant-level operational efficiency and performance, including general and administrative expenses. The Company excludes pre-opening expenses as they occur at irregular intervals and would impact comparability to prior period results. The Company excludes depreciation and amortization expenses, substantially all of which relate to restaurant-level assets, as they represent a non-cash charge for the investment in restaurants. The Company excludes impairment and closure expenses as it believes this provides a clearer perspective of ongoing operating performance and a more useful comparison to prior period results. Restaurant margin as presented may not be comparable to other similarly titled measures of other companies in the industry. A reconciliation of income from operations to restaurant margin is included in the accompanying financial tables.

Conference Call

Texas Roadhouse,听Inc. is hosting a conference call today, August 7, 2025, at 5:00听p.m. Eastern Time to discuss these results. The call will be webcast live from the investor relations portion of the Company鈥檚 website at www.texasroadhouse.com. Listeners may also access the call by dialing (888) 440-5667 or (646) 960-0476 for international calls and referencing the Texas Roadhouse,听Inc. Second Quarter 2025 Earnings. A replay of the call will be available until August听14, 2025, by dialing (800) 770-2030 or (609) 800-9909 for international calls and using conference ID 7714420.

About the Company

Texas Roadhouse,听Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 800 restaurants system-wide in 49 states, one U.S. territory, and ten foreign countries. For more information, please visit the Company鈥檚 Web site at www.texasroadhouse.com.

Forward-looking Statements

Certain statements in this release are forward-looking statements within the meaning of Section听27A of the Securities Act of 1933, as amended, and Section听21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon the current beliefs and expectations of the management of Texas Roadhouse, Inc. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, conditions beyond management鈥檚 control such as weather, natural disasters, disease outbreaks, epidemics, or pandemics impacting customers or food supplies; labor or supply chain shortages or limited availability of staff or product needed to meet the Company鈥檚 business standards; changes in consumer discretionary spending and macroeconomic conditions, including inflationary pressures and the impact of tariffs; food safety, and food-borne illness concerns; and other factors disclosed from time to time in the Company鈥檚 filings with the U.S. Securities and Exchange Commission. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under 鈥淧art听I鈥擨tem听1A. Risk Factors鈥� of the Annual Report on Form听10-K for the fiscal听year ended December听31, 2024. These factors should not be construed as exhaustive and should be read in conjunction with other filings with the Securities and Exchange Commission. Investors should take such risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law.

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