TXRH - Texas Roadhouse GAAP EPS of $1.07 beats by $0.04 revenue of $1.02B in-line

• Texas Roadhouse press release ( NASDAQ: TXRH ): Q2 GAAP EPS of $1.07 beats by $0.04 .
• Revenue of $1.02B (+13.5% Y/Y) in-line.
• Comparable restaurant sales increased 7.6% at company restaurants and increased 6.2% at domestic franchise restaurants;
• Restaurant margin, as a percentage of restaurant and other sales, decreased 116 basis points to 16.6%.
• Management reiterated the following expectations for 2022: Positive comparable restaurant sales growth;
• Approximately 25 Texas Roadhouse and Bubba's 33 company restaurant openings; and,
• Total capital expenditures of approximately $230 million including as many as three relocations.
• Management updated the following expectations for 2022: Store week growth of approximately 6%, including the impact of the eight franchise locations acquired;
• Commodity cost inflation of approximately 12%;
• Wage and other labor inflation of approximately 8%; and,
• An effective income tax rate of approximately 14% excluding the impact of any legislative changes enacted.

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