Andrew Strelzik's questions to Texas Roadhouse Inc (TXRH) leadership • Q2 2025
Question
Andrew Strelzik of BMO Capital Markets asked about Texas Roadhouse's current price gaps versus its competitors compared to historical levels and requested a reminder of the menu pricing outlook for the upcoming quarters.
Answer
CEO Gerry Morgan affirmed the company's comfort with its current value positioning and price gaps, emphasizing that value encompasses execution and portion size, not just price. Michael Bailen, Senior Director & Head of IR, provided the pricing cadence: 2.3% in Q3, which will increase to 3.1% in Q4 after a new 1.7% price increase is implemented.