Why Texas Roadhouse Shares Surged Today
Shares of Texas Roadhouse (NASDAQ: TXRH) were catching fire today, after the steakhouse chain posted strong results in its third-quarter earnings report. The all-around pleasing report was a reversal from earlier quarters in the year. As a result, the stock was up 19.5% as of 12:36 p.m. EDT.
The casual-dining chain posted solid comparable sales, up 4.4% at company-owned restaurants and up 3.2% at domestic franchised locations. Overall revenue increased 9.4% to $650.5 million, edging out analyst expectations for $648 million.
Image source: Texas Roadhouse.
Source Fool.com
