Texas Roadhouse (TXRH) Company Report

BlackBird Financial LP, founded by Judah Spinner, has acquired a meaningful stake in Texas Roadhouse, Inc., citing the company's exceptional store-level economics and long-term growth potential.
In 2024, Texas Roadhouse became the largest casual-dining restaurant brand in the U.S., achieving $5.5 billion in system-wide sales, a robust 14.7% increase year-over-year.
The company's strong operational performance includes company-owned locations generating over $7 million in annual sales per restaurant and projections for opening over 30 new locations in 2025.
For fiscal year 2024, Texas Roadhouse reported approximately 9.6% operating margins and 17.6% gross margins, supported by a conservative balance sheet and capital allocation discipline.

Nov 11, 2025, 4:00 PM

Press Release

Texas Roadhouse Reports Q3 2025 Results and Provides 2026 Outlook

TXRH

Earnings

Guidance Update

M&A

Texas Roadhouse reported Q3 2025 revenue of $1.4 billion, representing 12.8% growth, with comparable sales increasing 6.1% driven by 4.3% traffic growth. Diluted earnings per share decreased 0.8% to $1.25.
The company updated its full-year 2025 commodity inflation guidance to approximately 6% and set initial 2026 guidance at approximately 7%. Wage and other labor inflation guidance remains at approximately 4% for 2025 and is set at 3%-4% for 2026.
Texas Roadhouse is on track to open approximately 30 restaurants across its three brands in 2025 and expects to open approximately 35 company-owned restaurants in 2026, including 20 Texas Roadhouse, 10 Bubba's 33, and up to 5 Jaggers.
The company acquired 20 franchise restaurants in 2025 and plans to acquire five California franchise locations in early 2026, after which approximately 30-31 franchises will remain. Initial 2026 capital expenditure guidance is approximately $400 million.

Nov 6, 2025, 10:00 PM

Transcript

Texas Roadhouse Reports Strong Q3 2025 Revenue and Sales Growth, Updates Inflation Guidance

TXRH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Q3 2025 revenue reached $1.4 billion, marking a 12.8% growth year-over-year, with comparable sales increasing 6.1%, driven by 4.3% traffic growth.
Diluted earnings per share for Q3 2025 decreased 0.8% to $1.25.
The company updated its full-year 2025 commodity inflation guidance to approximately 6% and provided initial 2026 guidance of approximately 7%, primarily due to higher beef prices.
For 2026, Texas Roadhouse plans to open approximately 35 company-owned restaurants and 10 new franchise restaurants, with capital expenditures projected at approximately $400 million.
Management expects an approximately 10% negative year-over-year impact on Q4 2025 EPS growth due to lapping a 14-week quarter from the prior year.

Nov 6, 2025, 10:00 PM

Transcript

Texas Roadhouse Reports Strong Q3 2025 Revenue and Traffic Growth

TXRH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Texas Roadhouse reported strong top-line momentum in Q3 2025, with revenue topping $1.4 billion and growing 12.8% year-over-year.
Same-store sales increased 6.1% in Q3 2025, driven by 4.3% traffic growth and a 1.8% increase in average check.
The company updated its full-year 2025 commodity inflation guidance to approximately 6% and set initial 2026 guidance at approximately 7%.
Texas Roadhouse plans to open approximately 30 restaurants across its three brands in 2025 and approximately 35 company-owned restaurants in 2026, alongside 10 new franchise locations.
Diluted earnings per share decreased 0.8% to $1.25 in Q3 2025.

Nov 6, 2025, 10:00 PM

Transcript

Texas Roadhouse, Inc. Announces Third Quarter 2025 Results and Declares Dividend

TXRH

Earnings

Dividends

Guidance Update

Texas Roadhouse, Inc. reported Q3 2025 diluted earnings per share of $1.25, a 0.8% decrease compared to the prior year, despite a 12.8% increase in total revenue to $1,436,342 thousand.
Comparable restaurant sales at company restaurants increased 6.1% in Q3 2025. However, restaurant margin, as a percentage of restaurant and other sales, decreased 168 basis points to 14.3%, primarily due to 7.9% commodity inflation and 3.9% wage and other labor inflation.
The company's Board of Directors approved a quarterly cash dividend of $0.68 per share, payable on December 30, 2025, to shareholders of record on December 2, 2025.
For the first five weeks of Q4 2025, comparable restaurant sales increased 5.4%. Management updated its 2025 outlook, projecting commodity inflation of approximately 6% and reiterating expectations for wage and other labor inflation of approximately 4% and total capital expenditures of approximately $400 million. Initial 2026 expectations include commodity inflation of approximately 7% and total capital expenditures of approximately $400 million.

Nov 6, 2025, 9:06 PM

8-K

Texas Roadhouse Announces Third Quarter 2025 Results

TXRH

Earnings

Guidance Update

Dividends

For the 13 weeks ended September 30, 2025, Texas Roadhouse reported total revenue of $1,436,342 thousand and diluted earnings per share of $1.25.
During the third quarter of 2025, comparable restaurant sales at company restaurants increased 6.1%, while restaurant margin decreased 168 basis points to 14.3% primarily due to 7.9% commodity inflation and 3.9% wage and other labor inflation.
The company opened 7 company restaurants and 2 franchise restaurants during the 13 weeks ended September 30, 2025, and allocated $128.9 million to capital expenditures, $45.1 million to dividends, and $40.0 million to common stock repurchases.
Management updated its 2025 outlook, forecasting commodity inflation of approximately 6% and reiterating total capital expenditures of approximately $400 million. Additionally, the Board of Directors approved a quarterly cash dividend of $0.68 per share, payable on December 30, 2025.

Nov 6, 2025, 9:03 PM

Press Release

Texas Roadhouse Inc. Reports Strong Q2 2025 Results and Updates Full-Year Guidance

TXRH

Earnings

Guidance Update

New Projects/Investments

Texas Roadhouse Inc. reported strong Q2 2025 results, with revenue growing to over $1.5 billion for the first time and diluted earnings per share increasing 4% to $1.86. Same-store sales increased 5.8%, driven by 4% traffic growth.
The company increased its full-year commodity inflation guidance to approximately 5% primarily due to higher beef costs, with Q3 expected to see as much as 7% commodity inflation. To offset inflationary pressures, a menu price increase of approximately 1.7% will be implemented at the beginning of the fourth quarter, bringing total pricing to 3.1% for Q4 2025 and 2026.
Texas Roadhouse opened four company-owned restaurants in Q2 2025 and remains on track to open approximately 30 company-owned restaurants this year. The company also plans to acquire three more franchised locations in Q4 2025 and the remaining five California franchise restaurants in 2026. Bubba's 33 could see double-digit openings next year, and Jaggers could open as many as eight company and franchise locations.

Aug 8, 2025, 1:35 AM

Texas Roadhouse CFO Transition Announcement

TXRH

CFO Change

Executive Compensation

Board Change

CFO Departure: Texas Roadhouse announced the separation of CFO David Christopher Monroe effective June 9, 2025, as a termination without cause.
Separation Agreement: The agreement provides total payments of $883,568—comprising base termination pay, a prorated bonus, and health benefit premium support—under its separation terms.
Interim Appointment: The Board named Keith Humpich as interim CFO, offering him a quarterly stipend of $100,000 and service-based RSUs valued at $400,000.

Jun 10, 2025, 12:00 AM

8-K

Texas Roadhouse Reports Strong Q1 2025 Earnings Results

TXRH

Earnings

Revenue Acceleration/Inflection

Guidance Update

Dividends

Share Buyback

Total revenue reached $1.447B with net income $113.66M and EPS $1.70 for the 13 weeks ended April 1, 2025 .
Achieved over $1.4B in revenue with same-store sales up 3.5% and record average weekly sales, underscoring strong demand and operational momentum .
Recorded a restaurant margin dollar increase to $239M, reflecting improved profitability despite cost pressures .
Opened 8 company-owned restaurants and noted increased comparable restaurant sales, supporting ongoing expansion .
Declared a quarterly dividend of $0.68 per share and outlined a capital allocation strategy that includes share repurchases .
Maintained guidance with commodity inflation around 4% and wage inflation in the 4%-5% range, emphasizing disciplined cost management .

May 8, 2025, 9:01 PM

Transcript 8-K

Texas Roadhouse, Inc. Enters New Credit Facility Agreement

TXRH

Debt Issuance

Texas Roadhouse, Inc. filed an 8-K report on April 24, 2025, detailing key events and updates (e.g., credit facility agreement) ( ).
The company entered into a material definitive agreement for a five-year, unsecured revolving credit facility with a borrowing base of $450 million, with an option to increase by an additional $250 million, led by JPMorgan Chase and PNC Bank ( ).

Apr 25, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Texas Roadhouse.

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