How are Texas Roadhouse (TXRH) comparable restaurant sales trending in 2026?

Company restaurant comparable sales rose 6.2% in the 13 weeks ended June 30, 2026. For the first five weeks of the third quarter of fiscal 2026, comparable restaurant sales at company restaurants also increased 6.2% compared to 2025, indicating continued sales momentum.

Texas Roadhouse (NasdaqGS: TXRH) reports Q2 revenue of 1,679,976

Q: How did Texas Roadhouse (TXRH) perform in Q2 2026?

Texas Roadhouse reported Q2 2026 revenue of $1,679,976 thousand , up 11.1% year over year. Net income was $121,933 thousand and diluted EPS was $1.85 , slightly below $1.86 in the prior-year quarter, with restaurant margin at 16.4%.

Q: What dividend did Texas Roadhouse (TXRH) declare in August 2026?

The Board approved a quarterly cash dividend of $0.75 per share of common stock. It will be paid on September 29, 2026 to shareholders of record at the close of business on September 1, 2026 .

Q: How many restaurants does Texas Roadhouse (TXRH) operate system-wide?

As of June 30, 2026, Texas Roadhouse had 832 restaurants system-wide. This included 732 company restaurants and 100 franchise restaurants , up from 797 total restaurants at the end of the comparable prior-year quarter.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Texas Roadhouse, Inc. reported results for the 13 and 26 weeks ended June 30, 2026. For the 13-week period, total revenue was $1,679,976 thousand, up 11.1% year over year. Income from operations was $142,788 thousand, and net income was $121,933 thousand, down 1.7%, with diluted EPS of $1.85 versus $1.86 a year earlier. Company restaurants delivered comparable restaurant sales growth of 6.2%, and restaurant margin was 16.4% of restaurant and other sales, compared with 17.1% in the prior-year quarter.

For the 26-week period, total revenue was $3,313,142 thousand, up 11.9%; net income was $245,366 thousand, up 3.2%; and diluted EPS was $3.72, up 4.2%. Net cash provided by operating activities was $439,227 thousand. At June 30, 2026, the company held $202,427 thousand in cash and cash equivalents and had $50,000 thousand of long-term debt. The system comprised 832 restaurants worldwide. Comparable restaurant sales at company restaurants for the first five weeks of the third quarter of fiscal 2026 increased 6.2% compared to 2025. The Board approved a quarterly cash dividend of $0.75 per share, payable September 29, 2026 to shareholders of record on September 1, 2026.

Filing Explained

For the 26 weeks ended June 30, 2026, cash flows included $50,000 thousand of credit proceeds, $71,845 thousand of repurchases, and $98,663 thousand of dividends.

This Form 8-K adds six-month cash-flow mechanics to the reported results: for the 26 weeks ended June 30, 2026, operating cash flow was $439,227 thousand, investing activities used $241,983 thousand, and financing activities used $129,526 thousand.

For existing common holders, the disclosed capital allocation includes $50,000 thousand of net revolving-credit proceeds, $71,845 thousand used to repurchase common stock, and $98,663 thousand paid as dividends.

The company defines restaurant margin as restaurant and other sales less restaurant-level operating costs; it excludes pre-opening, depreciation and amortization, impairment and closure, and general and administrative expenses. The release says this non-GAAP measure is not indicative of overall company profitability and does not accrue directly to shareholders.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total revenue (13 weeks): $1,679,976 thousand Net income (13 weeks): $121,933 thousand Diluted EPS (13 weeks): $1.85 +5 more

8 metrics

Total revenue (13 weeks) $1,679,976 thousand 13 weeks ended June 30, 2026; up 11.1% vs July 1, 2025

Net income (13 weeks) $121,933 thousand Net income attributable to Texas Roadhouse, Inc. for 13 weeks ended June 30, 2026; down 1.7% year over year

Diluted EPS (13 weeks) $1.85 13 weeks ended June 30, 2026; compared with $1.86 in prior-year quarter (0.7% decrease)

Total revenue (26 weeks) $3,313,142 thousand 26 weeks ended June 30, 2026; up 11.9% vs 2025 period

Net cash from operating activities $439,227 thousand Net cash provided by operating activities for 26 weeks ended June 30, 2026

Restaurant margin percentage 16.4% Restaurant margin as a percentage of restaurant and other sales for 13 and 26 weeks ended June 30, 2026

Quarterly cash dividend $0.75 per share Quarterly dividend approved August 5, 2026; payable September 29, 2026

Total restaurants system-wide 832 Restaurants open at the end of the quarter ended June 30, 2026; up from 797 a year earlier

Key Terms

restaurant margin, comparable restaurant sales, average unit volume, noncontrolling interests, +1 more

5 terms

restaurant margin financial

"Restaurant margin represents restaurant and other sales less restaurant-level operating costs"

Restaurant margin is the portion of a restaurant’s sales that remains after paying the costs of making and serving food, plus other operating expenses like wages, rent, and utilities, usually expressed as a percentage. For investors, it shows how efficiently a restaurant turns revenue into profit and indicates pricing power and cost control—similar to how much of a paycheck is left after paying monthly bills. Higher margins generally mean a restaurant is more profitable and resilient.

comparable restaurant sales financial

"Comparable restaurant sales at company restaurants for the first five weeks of the third quarter"

Comparable restaurant sales measure how much revenue changed at locations that were open for a set prior period, excluding new or closed outlets, so it shows like-for-like sales performance. Investors use it as an 'apples-to-apples' gauge of customer demand, pricing power and operational health—rising comparable sales suggest stronger underlying business, while declines can signal weakening traffic or pricing issues even if overall revenue grows due to new openings.

average unit volume financial

"Average unit volume (2) $ 2,380 $ 2,246"

Average unit volume (AUV) is the typical amount of sales generated by a single location or franchise over a set period, usually a year, averaged across all stores or outlets. Investors use it like a per-shop revenue thermometer—higher AUVs mean each location is selling more, which helps assess a business’s core strength, compare productivity between chains, and predict how adding or closing locations will affect overall revenue and profitability.

noncontrolling interests financial

"Net income including noncontrolling interests $ 124,514 $ 126,693"

The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.

operating lease right-of-use assets financial

"Operating lease right-of-use assets, net $ 942,110 $ 879,521"

An operating lease right-of-use (ROU) asset is an accounting entry that shows the value of a leased item you have the legal right to use—like a building, vehicle, or equipment—recorded on a company’s balance sheet along with the corresponding lease obligation. Investors care because it adds to reported assets and liabilities, changing measures like leverage and return on assets much like bringing a long-term rental onto the company’s financial snapshot, which can affect credit terms and valuation.

Earnings Snapshot

Total revenue (13 weeks): $1,679,976 thousand · Guidance included

13 and 26 weeks ended June 30, 2026

Total revenue (13 weeks) $1,679,976 thousand 11.1% vs 13 weeks ended July 1, 2025

Net income (13 weeks) $121,933 thousand (1.7%) vs 13 weeks ended July 1, 2025

Diluted EPS (13 weeks) $1.85 (0.7%) vs $1.86 in prior-year quarter

Total revenue (26 weeks) $3,313,142 thousand 11.9% vs 26 weeks ended July 1, 2025

Net income (26 weeks) $245,366 thousand 3.2% vs 26 weeks ended July 1, 2025

Diluted EPS (26 weeks) $3.72 4.2% vs $3.57 in prior-year period

Guidance

Comparable restaurant sales at company restaurants for the first five weeks of the third quarter of fiscal 2026 increased 6.2% compared to 2025.

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Available on EDGAR 08/06/2026 - 04:07 PM Accepted by SEC EDGAR 08/06/2026 - 04:05 PM

FAQ

How did Texas Roadhouse (TXRH) perform in Q2 2026?

Texas Roadhouse reported Q2 2026 revenue of $1,679,976 thousand, up 11.1% year over year. Net income was $121,933 thousand and diluted EPS was $1.85, slightly below $1.86 in the prior-year quarter, with restaurant margin at 16.4%.

What were Texas Roadhouse (TXRH) results for the first half of 2026?

For the 26 weeks ended June 30, 2026, Texas Roadhouse generated revenue of $3,313,142 thousand, up 11.9%. Net income was $245,366 thousand and diluted EPS was $3.72, a 4.2% increase from $3.57 in the same period of 2025.

What dividend did Texas Roadhouse (TXRH) declare in August 2026?

The Board approved a quarterly cash dividend of $0.75 per share of common stock. It will be paid on September 29, 2026 to shareholders of record at the close of business on September 1, 2026.

What is Texas Roadhouse (TXRH) cash flow and balance sheet position mid-2026?

For the first half of 2026, net cash provided by operating activities was $439,227 thousand. At June 30, 2026, the company held $202,427 thousand of cash and cash equivalents and reported $50,000 thousand of long-term debt on its balance sheet.

How many restaurants does Texas Roadhouse (TXRH) operate system-wide?

As of June 30, 2026, Texas Roadhouse had 832 restaurants system-wide. This included 732 company restaurants and 100 franchise restaurants, up from 797 total restaurants at the end of the comparable prior-year quarter.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 5, 2026

TEXAS ROADHOUSE, INC.

(Exact name of registrant as specified in its charter)


Delaware	000-50972	20-1083890
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)


6040 Dutchmans Lane, Louisville, KY		40205
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (502) 426-9984

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each Class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	TXRH	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On August 6, 2026, Texas Roadhouse, Inc., a Delaware corporation (the “Company”), issued a press release announcing its financial results for the second quarter ended June 30, 2026. Attached to this Current Report on Form 8-K as Exhibit 99.1 is a copy of the press release.

ITEM 8.01. OTHER EVENTS

On August 5, 2026, the Company’s Board of Directors approved the payment of a quarterly cash dividend of $0.75 per share of common stock. This payment will be distributed on September 29, 2026, to shareholders of record at the close of business on September 1, 2026.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) EXHIBITS



99.1	Press Release issued by the Company on August 6, 2026.
104	Cover Page Interactive File (the cover page XBRL tags are embedded in the Inline XBRL document)

The information in this Current Report on Form 8-K at Item 2.02 and the Exhibit 99.1 attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	TEXAS ROADHOUSE, INC.


Date: August 6, 2026	By:	/s/ Michael S. Lenihan
		Michael S. Lenihan
		Chief Financial Officer

Exhibit 99.1

Texas Roadhouse, Inc. Announces Second Quarter 2026 Results

Declares Quarterly Dividend of $0.75 per Share

LOUISVILLE, KY. (August 6, 2026) – Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 and 26 weeks ended June 30, 2026.

Financial Results

Financial results for the 13 and 26 weeks ended June 30, 2026 and July 1, 2025 were as follows:


	13 Weeks Ended					26 Weeks Ended
($000's, except per share amounts)	June 30, 2026		July 1, 2025		% change	June 30, 2026		July 1, 2025		% change
Total revenue	$	1,679,976	$	1,512,054	11.1%	$	3,313,142	$	2,959,702	11.9%
Income from operations		142,788		146,341	(2.4%)		289,129		281,074	2.9%
Net income		121,933		124,085	(1.7%)		245,366		237,747	3.2%
Diluted earnings per share	$	1.85	$	1.86	(0.7%)	$	3.72	$	3.57	4.2%

Results at company restaurants for the 13 weeks ended June 30, 2026, as compared to the prior year as applicable, included the following:

●

Comparable restaurant sales increased 6.2% and store weeks increased 5.0%;

●

Average weekly sales were $177,252 of which $25,369 were to-go sales as compared to average weekly sales of $167,350 of which $22,243 were to-go sales in the prior year;

●

Restaurant margin dollars increased 6.9% to $275.1 million from $257.3 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, decreased 66 basis points to 16.4% as commodity inflation of 7.0% and wage and other labor inflation of 3.9% were partially offset by higher sales;

●

Diluted earnings per share decreased 0.7% primarily driven by higher general and administrative expenses and higher depreciation and amortization expenses partially offset by higher restaurant margin dollars and the impact of share repurchases;

●

Nine company restaurants and one franchise restaurant were opened; and

●

Cash provided by operating activities was $180.1 million and capital allocation spend included capital expenditures of $98.7 million, dividends of $49.3 million, and repurchases of common stock of $42.6 million.

Results at company restaurants for the 26 weeks ended June 30, 2026, as compared to the prior year as applicable, included the following:

●

Comparable restaurant sales increased 6.7% and store weeks increased 5.3%;

●

Average weekly sales were $175,708 of which $25,371 were to-go sales as compared to average weekly sales of $165,228 of which $22,195 were to-go sales in the prior year;

●

Restaurant margin dollars increased 8.6% to $539.5 million from $496.6 million in the prior year primarily due to higher sales. Restaurant margin, as a percentage of restaurant and other sales, decreased 52 basis points to 16.4% as commodity inflation of 6.6% and wage and other labor inflation of 3.9% were partially offset by higher sales;

●

Diluted earnings per share increased 4.2% 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;

●

13 company restaurants and three franchise restaurants were opened; and

●

Cash provided by operating activities was $439.2 million and capital allocation spend included capital expenditures of $178.8 million, franchise acquisitions of $71.8 million, dividends of $98.7 million, and repurchases of common stock of $70.8 million.

Jerry Morgan, Chief Executive Officer of Texas Roadhouse, Inc., commented, “We are excited about the momentum in our business this quarter as continued strong traffic trends drove record average weekly sales. These results are a testament to the hard work, passion, and ownership mentality of our operators and their commitment to our mission, values, and purpose of Serving Communities Across America and the World.”

Morgan added, “Looking ahead, we continue to expect meaningful growth opportunities across all three of our brands. With a strong development pipeline, healthy balance sheet, and our disciplined capital allocation approach, we remain focused on expanding our footprint, investing in our people, and executing Legendary Food and Legendary Service that sets us apart. We believe this focus positions us well to continue creating long-term value for our shareholders.”

2026 Outlook

Comparable restaurant sales at company restaurants for the first five weeks of the third quarter of our 2026 fiscal year increased 6.2% compared to 2025.

Management updated the following expectations for 2026:

●

Commodity inflation of approximately 5%; and

●

An effective income tax rate of approximately 14%.

Management reiterated the following expectations for 2026:

●

Positive comparable restaurant sales growth, including the benefit of menu pricing actions;

●

Store week growth of 5% to 6%, including the benefit from franchise acquisitions;

●

Wage and other labor inflation of 3% to 4%; and

●

Total capital expenditures of approximately $400 million.

Cash Dividend Payment

Non-GAAP Measures

The Company prepares the unaudited condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). Within the press release, the Company makes reference to restaurant margin (in dollars, as a 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 pre-opening and 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, Inc. is hosting a conference call today, August 6, 2026, at 5:00 p.m. Eastern Time to discuss these results. The call will be webcast live from the investor relations portion of the Company’s website at investor.texasroadhouse.com. Listeners may also access the call by dialing (833) 461-5787 and using conference ID 639749828. A replay of the webcast will be available on the Company’s Investor Relations website shortly after the conclusion of the call.

About the Company

Texas Roadhouse, Inc. is a growing restaurant company operating predominantly in the casual dining segment that first opened in 1993 and today has grown to over 830 restaurants system-wide in 49 states, one U.S. territory, and ten foreign countries. For more information, please visit the Company’s Web site at www.texasroadhouse.com.

Forward-looking Statements

Certain statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon the current beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, conditions beyond management’s 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’s 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’s 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 “Part I—Item 1A. Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 30, 2025. 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.

# # #

Contacts:


Investor Relations	Media
Michael Bailen	Megan Pence
(502) 515-7298	(502) 461-1878

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(in thousands, except per share data)

(unaudited)


	13 Weeks Ended					26 Weeks Ended
	June 30, 2026		July 1, 2025			June 30, 2026		July 1, 2025
Revenue:
Restaurant and other sales	$	1,672,913	$	1,503,974		$	3,299,602	$	2,944,316
Royalties and franchise fees		7,063		8,080			13,540		15,386
Total revenue		1,679,976		1,512,054			3,313,142		2,959,702
Costs and expenses:
Restaurant operating costs (excluding depreciation and amortization shown separately below):
Food and beverage		591,525		511,324			1,165,827		1,002,315
Labor		544,001		495,049			1,078,620		975,024
Rent		25,247		23,028			49,960		45,505
Other operating		237,020		217,230			465,646		424,845
Pre-opening		8,492		5,464			15,128		12,276
Depreciation and amortization		58,341		50,744			115,184		99,544
Impairment and closure, net		153		111			153		139
General and administrative		72,409		62,763			133,495		118,980
Total costs and expenses		1,537,188		1,365,713			3,024,013		2,678,628
Income from operations		142,788		146,341			289,129		281,074
Interest income, net		1,021		1,044			1,566		2,345
Equity income from investments in unconsolidated affiliates		182		1,426			326		1,651
Income before taxes		143,991		148,811			291,021		285,070
Income tax expense		19,477		22,118			40,512		42,318
Net income including noncontrolling interests		124,514		126,693			250,509		242,752
Less: Net income attributable to noncontrolling interests		2,581		2,608			5,143		5,005
Net income attributable to Texas Roadhouse, Inc. and subsidiaries	$	121,933	$	124,085		$	245,366	$	237,747

Net income per common share attributable to Texas Roadhouse, Inc. and subsidiaries:
Basic	$	1.86	$	1.87		$	3.73	$	3.58
Diluted	$	1.85	$	1.86		$	3.72	$	3.57
Weighted average shares outstanding:
Basic		65,696		66,373			65,809		66,429
Diluted		65,920		66,598			66,019		66,656
Cash dividends declared per share	$	0.75	$	0.68		$	1.50	$	1.36

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)


	June 30, 2026			December 30, 2025
Cash and cash equivalents	$	202,427		$	134,709
Other current assets, net		159,471			316,767
Property and equipment, net		1,886,572			1,803,841
Operating lease right-of-use assets, net		942,110			879,521
Goodwill		275,036			242,220
Intangible assets, net		26,485			17,742
Other assets		179,965			154,672
Total assets	$	3,672,066		$	3,549,472

Current liabilities		790,793			908,837
Operating lease liabilities, net of current portion		1,004,717			943,070
Long-term debt		50,000			—
Other liabilities		246,762			215,863
Texas Roadhouse, Inc. and subsidiaries stockholders’ equity		1,558,552			1,460,820
Noncontrolling interests		21,242			20,882
Total liabilities and equity	$	3,672,066		$	3,549,472

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


	26 Weeks Ended
	June 30, 2026		July 1, 2025
Cash flows from operating activities:
Net income including noncontrolling interests	$	250,509	$	242,752
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		115,184		99,544
Share-based compensation expense		26,902		23,249
Deferred income taxes		7,799		(6,467)
Other noncash adjustments, net		2,324		2,472
Change in working capital, net of acquisitions		36,509		4,430
Net cash provided by operating activities		439,227		365,980
Cash flows from investing activities:
Capital expenditures - property and equipment		(178,845)		(169,912)
Acquisitions of franchise restaurants, net of cash acquired		(71,778)		(93,878)
Other investing activities, net		8,640		4,263
Net cash used in investing activities		(241,983)		(259,527)
Cash flows from financing activities:
Proceeds from revolving credit facility, net of repayments		50,000		—
Repurchase of shares of common stock, including excise taxes as applicable		(71,845)		(60,414)
Dividends paid to shareholders		(98,663)		(90,292)
Other financing activities, net		(9,018)		(24,171)
Net cash used in financing activities		(129,526)		(174,877)
Net increase (decrease) in cash and cash equivalents		67,718		(68,424)
Cash and cash equivalents - beginning of period		134,709		245,225
Cash and cash equivalents - end of period	$	202,427	$	176,801

Texas Roadhouse, Inc. and Subsidiaries

Reconciliation of Income from Operations to Restaurant Margin

($ in thousands)

(unaudited)


	13 Weeks Ended						26 Weeks Ended
	June 30, 2026			July 1, 2025			June 30, 2026			July 1, 2025
Income from operations	$	142,788		$	146,341		$	289,129		$	281,074

Less:
Royalties and franchise fees		7,063			8,080			13,540			15,386

Add:
Pre-opening		8,492			5,464			15,128			12,276
Depreciation and amortization		58,341			50,744			115,184			99,544
Impairment and closure, net		153			111			153			139
General and administrative		72,409			62,763			133,495			118,980

Restaurant margin	$	275,120		$	257,343		$	539,549		$	496,627

Restaurant margin (as a percentage of restaurant and other sales)		16.4%			17.1%			16.4%			16.9%

Texas Roadhouse, Inc. and Subsidiaries

Supplemental Financial and Operating Information

($ amounts in thousands, except restaurant margin $ per

store week and weekly sales by group)

(unaudited)


	13 Weeks Ended
	June 30, 2026			July 1, 2025			Change
Company restaurants (all concepts)
Restaurant and other sales	$	1,672,913		$	1,503,974		11.2	%
Store weeks		9,457			9,010		5.0	%
Comparable restaurant sales (1)		6.2	%		5.8	%

Restaurant operating costs (as a % of restaurant and other sales)
Food and beverage costs		35.4	%		34.0	%	(136)	bps
Labor		32.5	%		32.9	%	40	bps
Rent		1.5	%		1.5	%	2	bps
Other operating		14.2	%		14.5	%	28	bps
Total		83.6	%		82.9	%

Restaurant margin %		16.4	%		17.1	%	(66)	bps
Restaurant margin $	$	275,120		$	257,343		6.9	%
Restaurant margin $/Store week	$	29,092		$	28,562		1.9	%

Texas Roadhouse restaurants only:
Store weeks		8,574			8,226		4.2	%
Comparable restaurant sales (1)		6.5	%		5.9	%
Average unit volume (2)	$	2,380		$	2,246		6.0	%
Weekly sales by group:
Comparable restaurants (626 and 590 units)	$	183,982		$	173,349		6.1	%
Average unit volume restaurants (20 and 28 units)	$	155,639		$	144,493		7.7	%
Restaurants less than 6 months old (16 and 16 units)	$	180,822		$	163,767		10.4	%

Bubba’s 33 restaurants only:
Store weeks		742			668		11.1	%
Comparable restaurant sales (1)		1.3	%		4.3	%
Average unit volume (2)	$	1,659		$	1,645		0.9	%
Weekly sales by group:
Comparable restaurants (48 and 43 units)	$	128,185		$	126,812		1.1	%
Average unit volume restaurants (6 and 5 units)	$	122,880		$	124,187		(1.1)	%
Restaurants less than 6 months old (5 and 4 units)	$	159,187		$	149,788		6.3	%

Texas Roadhouse franchise restaurants only:
Store weeks		1,205			1,256		(4.1)	%
Comparable restaurant sales		4.4	%		7.0	%

(1)

Comparable restaurant sales reflect the change in sales for all company restaurants across all concepts, unless otherwise noted, over the same period of the prior year for restaurants open a full 18 months before the beginning of the period, excluding sales from restaurants permanently closed during the period, if applicable.

(2)	Average unit volume includes sales from restaurants open for a full six months before the beginning of the period, excluding sales from restaurants permanently closed during the period, if applicable.

Texas Roadhouse, Inc. and Subsidiaries

Restaurant Unit Activity

(unaudited)


	13 Weeks Ended			26 Weeks Ended
	June 30, 2026	July 1, 2025	Change	June 30, 2026	July 1, 2025	Change
Restaurant openings
Company - Texas Roadhouse	5	2	3	9	9	—
Company - Bubba’s 33	3	2	1	3	3	—
Company - Jaggers	1	—	1	1	—	1
Total company restaurants	9	4	5	13	12	1

Franchise - Texas Roadhouse - Domestic	—	—	—	—	—	—
Franchise - Jaggers - Domestic	—	1	(1)	1	1	—
Franchise - Texas Roadhouse - Int'l (1)	1	—	1	2	—	2
Total franchise restaurants	1	1	—	3	1	2

Total restaurants	10	5	5	16	13	3

Restaurant acquisitions/dispositions
Company - Texas Roadhouse	—	3	(3)	5	17	(12)
Franchise - Texas Roadhouse - Domestic	—	(3)	3	(5)	(17)	12

Restaurants open at the end of the quarter
Company - Texas Roadhouse	662	634	28
Company - Bubba’s 33	59	52	7
Company - Jaggers	11	9	2
Total company restaurants	732	695	37

Franchise - Texas Roadhouse - Domestic	31	39	(8)
Franchise - Jaggers - Domestic	6	5	1
Franchise - Texas Roadhouse - Int'l (1)	62	57	5
Franchise - Jaggers - Int'l	1	1	—
Total franchise restaurants	100	102	(2)

Total restaurants	832	797	35

(1)	Includes a U.S. territory.

Source: View Original Filing on SEC EDGAR

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Texas Roadhouse (NasdaqGS: TXRH) reports Q2 revenue of 1,679,976

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