The following is a summary of the Texas Roadhouse, Inc. (TXRH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Texas Roadhouse kicked off 2024 with Q1 revenue exceeding $1.3 billion and same-store sales growth of 8.4%.

• The company marked 12.5% revenue growth in the first quarter, driven by a 7.7% increase in average unit volume and 4.9% store week growth.

• Q1 restaurant margin dollar increased 23% to $228 million and the diluted earnings per share rose 31.4% to $1.69.

• Restaurant margin as a percentage of total sales went up to 17.4% for the first quarter.

• The company expects Q2 to experience a higher rate of commodity inflation than Q1, though still forecasting below the full-year average.

• Texas Roadhouse anticipates the average investment for a new Roadhouse to reach around $8 million, marking an over 40% increase from 2019.

Business Progress:

• Texas Roadhouse opened nine company-owned branches in Q1 and plans to open six more in Q2, following continued confidence in the brand's growth.

• Building on growth strategies, the company aims to launch four new Bubba's 33 locations and the first international franchise of Jaggers in South Korea this year.

• Their transition to Digital Kitchens progresses steadily with 30% of the planned 200 conversions completed.

• Roadie-First Technology, a new employee management system, is set for Q2 roll-out.

• Expansion seems promising based on reliable performance across new stores.

• They will maintain focus on quality service and food, key contributors to their robust growth.

• Bubba's branch recorded substantial improvements in Q1, with margins expected to hit approximately 17%-18%.

• Jaggers shows positive growth with more franchise deals in the pipeline expected to boost future expansion.

• The company is gearing up investments into Roadhouse Technology.

• The expected 53-week year will likely result in strong performance.

More details: Texas Roadhouse IR

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