Why Is Texas Roadhouse Stock Surging Premarket Friday?



Texas Roadhouse Inc (NASDAQ:TXRH) shares are trading higher after the company reported fourth-quarter results FY23.

Revenue rose 15.3% Y/Y to $1.164 billion, beating the consensus of $1.161 billion. Comparable restaurant sales rose 9.9% at company restaurants and 8.9% at domestic franchise restaurants.

Restaurant margin dollars grew 21.4% Y/Y to $176.7 million, led by higher sales, with restaurant margin expanding 75 basis points to 15.3% aided by higher sales.

Operating income rose 21.7% Y/Y to $83.8 million. EPS was $1.08, beating the consensus of $1.06

The company opened 12 company restaurants and seven franchise …

Full story available on Benzinga.com


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