Texas Roadhouse shares climb after in-line first-quarter results
Updated
Updated · Bloomberg · May 7
Texas Roadhouse shares climb after in-line first-quarter results
14 articles · Updated · Bloomberg · May 7
Earnings per share were $1.87, slightly above consensus, while company-owned same-store sales rose 7.1%, the strongest gain in five quarters.
The restaurant operator said margins shrank less than forecast as higher costs were partly offset by stronger sales.
Sales held up as diners shifted to cheaper beef cuts amid higher menu prices, while moderating commodity-cost inflation supported expectations for continued momentum.
How is the steakhouse finding cheaper beef when cattle prices are at record highs?
Is Texas Roadhouse's success a clever strategy or just a temporary fix for inflation?