{"id":484642,"date":"2021-04-29T16:06:11","date_gmt":"2021-04-29T20:06:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/texas-roadhouse-inc-announces-first-quarter-2021-results\/"},"modified":"2021-04-29T16:06:11","modified_gmt":"2021-04-29T20:06:11","slug":"texas-roadhouse-inc-announces-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/texas-roadhouse-inc-announces-first-quarter-2021-results\/","title":{"rendered":"Texas Roadhouse, Inc. Announces First Quarter 2021 Results"},"content":{"rendered":"

\nReinstates Quarterly Dividend to $0.40 per Share
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LOUISVILLE, Ky., April 29, 2021 (GLOBE NEWSWIRE) — Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 week period ended March 30, 2021 and provided a business update.<\/p>\n

\n Statement from Jerry Morgan, CEO and President<\/strong>\n <\/p>\n

The last several weeks have been extremely difficult for the Texas Roadhouse family as we mourn the passing of our Founder, CEO, and friend, Kent Taylor. The vision and leadership that Kent provided since opening the first store in 1993 was without question the foundation for the thriving, multi-concept restaurant company that we are today. The entire leadership team is committed to preserving Kent\u2019s legacy and the unique culture he established as we continue to grow Texas Roadhouse just as he did over the past 28 years.<\/p>\n

We also have reflected on the impact of the pandemic on our business. A year ago today, all of our dining rooms were still closed and while we knew brighter days were ahead, we never could have anticipated where we are today. Our operating results have exceeded even pre-pandemic levels thanks to our operators\u2019 ability to navigate a number of factors, including the easing of dining room capacity restrictions, guest excitement to get back into our restaurants and the continued strength of our To-Go sales. Going forward, our primary focus will be ensuring that our guests continue to have a legendary experience each and every time they choose us. This will include continuing to manage capacity restrictions, recruiting and retaining front-line employees, and maintaining a safe environment for everyone.<\/p>\n

\n Financial Results<\/strong>\n <\/p>\n

Financial results for the 13 week periods ended March 30, 2021, March 31, 2020, and March 26, 2019 were as follows:<\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n First Quarter<\/strong>\n <\/td>\n<\/tr>\n
($000’s)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n % change<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\n vs. 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n vs. 2019<\/strong>\n <\/td>\n<\/tr>\n
Total revenue<\/td>\n$<\/td>\n800,629<\/td>\n\u00a0<\/td>\n$<\/td>\n652,524<\/td>\n\u00a0<\/td>\n$<\/td>\n690,608<\/td>\n\u00a0<\/td>\n22.7%<\/td>\n\u00a0<\/td>\n15.9%<\/td>\n<\/tr>\n
Income from operations<\/td>\n\u00a0<\/td>\n80,927<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,790<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,445<\/td>\n\u00a0<\/td>\n412.5%<\/td>\n\u00a0<\/td>\n33.9%<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n64,150<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,029<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50,390<\/td>\n\u00a0<\/td>\n300.2%<\/td>\n\u00a0<\/td>\n27.3%<\/td>\n<\/tr>\n
Diluted earnings per share<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n$<\/td>\n0.23<\/td>\n\u00a0<\/td>\n$<\/td>\n0.70<\/td>\n\u00a0<\/td>\n298.5%<\/td>\n\u00a0<\/td>\n31.0%<\/td>\n<\/tr>\n<\/table>\n

Results for the first quarter included the following:<\/p>\n