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Mar 28, 2023
Texas Roadhouse Q1 2023 Earnings Report
Texas Roadhouse announced first quarter 2023 results, with record traffic and sales levels, as well as higher profitability.
Key Takeaways
Texas Roadhouse reported strong first-quarter results, driven by record traffic and sales. The company also repaid the remainder of its debt and acquired eight domestic franchise restaurants. Comparable restaurant sales at company restaurants for the first five weeks of our second quarter of fiscal 2023 increased 8.6% compared to 2022. In addition, the Company implemented a menu price increase of approximately 2.2% in late March.
Record traffic and sales levels achieved.
Profitability increased during the quarter.
Remaining debt was repaid.
Eight domestic franchise restaurants were acquired.
Texas Roadhouse
Texas Roadhouse
Forward Guidance
Management reiterated the following expectations for 2023.