Texas Roadhouse, Inc. reports developments tied to its casual dining restaurant business, including quarterly earnings, restaurant sales, operating costs, new restaurant development, franchise acquisitions and capital allocation. The company operates and franchises concepts that include Texas Roadhouse, Bubba's 33 and Jaggers, with the Texas Roadhouse steakhouse concept providing the largest share of revenue.
Recurring news also covers dividend declarations, share repurchases, board appointments and executive leadership changes. Company updates commonly discuss restaurant-level performance, food and labor costs, domestic and international footprint expansion, and governance actions affecting the management of the restaurant portfolio.
Texas Roadhouse announced it will release its third quarter 2020 financial results on October 28, 2020, after market close. A conference call will follow at 5:00 PM ET, available via webcast on the company’s investor relations webpage. The call can also be accessed by phone. A replay will be available until November 4, 2020.
Texas Roadhouse operates over 620 restaurants across 49 states and ten foreign countries. For more details, visit www.texasroadhouse.com.
Texas Roadhouse reported a significant decline in financial performance for the 13 and 26 weeks ending June 30, 2020, due to the COVID-19 pandemic. Total revenue dropped by 30.9% to $476.4 million in Q2 and by 18.2% year-to-date. Net income saw a substantial loss of $33.6 million compared to a profit of $44.8 million in 2019. Comparable restaurant sales dipped 32.8% in Q2, although some recovery was noted in June. The company increased its revolving credit facility by $82.5 million to enhance liquidity, ending the quarter with $282.5 million in cash. The 2020 financial outlook has been withdrawn.
Texas Roadhouse (TXRH) will announce its second quarter 2020 financial results on August 3, 2020, after the market closes. A conference call is scheduled for 5:00 PM ET on the same day, which will be available via webcast on the company's investor relations website. Listeners can join the call by phone, with options for both domestic and international calls. A replay of the call will be accessible until August 10, 2020.
The casual dining chain operates over 615 restaurants across 49 states and ten countries.
Texas Roadhouse (TXRH) reported financial results for the 13 weeks ending March 31, 2020. Total revenue was $652.5 million, down 5.5% from $690.6 million in Q1 2019. Net income dropped 68.2% to $16 million, with diluted EPS at $0.23, down 67.1%. March comparable restaurant sales fell 29.7%, significantly impacted by COVID-19. The company shifted to a To-Go operating model and has implemented safety protocols for employees. Cash on hand is $230.6 million, with $190 million in debt. The financial outlook for 2020 has been withdrawn due to uncertainty.