Texas Roadhouse Delivered a Meaty Set of Earnings, but Can Investors Expect Even More?
Texas Roadhouse (NASDAQ: TXRH) delivered strong results for its third-quarter earnings announcement in late October. Total revenue was up 9.4% year over year to $650.5 million, while net income increased a hefty 25.4% year over year to $36.5 million, or $0.52 per share. The casual dining chain also reported that comparable-restaurant sales increased 4.4% at company restaurants and 3.2% at domestic franchised restaurants, a very good result considering the weak results from its peers.
Texas Roadhouse has a strong track record of delivering good food at affordable prices. CEO Wayne Taylor also emphasized that labor productivity had boosted restaurant margins, and the company had shifted focus on labor scheduling and efficiency in order to make this happen.
Moving forward, can investors expect even better performance from the company? There are several initiatives and plans afoot that make me confident Texas Roadhouse can continue to outperform.
Source Fool.com
