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Texas Roadhouse Stampedes On EPS Beat as Comp Sales Surge 9.3% 
Casual dining restaurant operator Texas Roadhouse Inc. (NASDAQ: TXRH) is an anomaly among dine-in restaurants. It continues to post impressive results, as evidenced by its solid Q2 2024 earnings report. The steakhouse-style restaurant chain continues to impress with its consistent growth metrics. Particularly outstanding is its 9.3% YoY same-store sales (SSS) growth in its latest quarter. This metric alone outshines some of the most well-known restaurant chains in the country. Texas Roadhouse operates in the consumer discretionary sector and competes with restaurant operators Darden Restaurants Inc. (NYSE: DRI), Brinker’s International Inc. (NYSE: EAT), and Bloomin’ Brands Inc. (NASDAQ: BLMN). You may have heard the saying "options are risky" …
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The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024. Claim your free seat by clicking here now. TXRH Stock is Forming a Bullish Megaphone Pattern The daily candlestick chart for TXRH is forming a rare bullish pattern called a megaphone. This pattern forms from an upper trendline resistance comprised of higher highs and a lower trendline comprised of lower lows as the trading channel widens. The breakout triggers when shares surge through its upper trendline resistance. The daily relative strength index (RSI) has fallen to the 43-band. Pullback support levels are at $162.40, $158.06, $151.11, and $146.79. Texas Roadhouse Smokes Consensus Estimates The company reported Q2 2024 EPS of $1.79, beating consensus estimates for $1.64 by 15 cents. Revenues matched consensus estimates at $1.34 billion. Restaurant margins rose to 18.2%, up from 15.7% in the year-ago period, driven by higher average guest chat and improved labor productivity offsetting wage and other labor inflation of 4.4% and commodity inflation of 0.4%. Average weekly sales at company restaurants were $158,991, of which $19.975 were to-go sales, compared to $146,727 and $18,496, respectively, in the year-ago period. Comparable restaurant sales or same-store sales increased 9.3% YoY at company restaurants and 8.3% at franchised restaurants. The company opened six new companies and three new franchise restaurants in the quarter. Texas Roadhouse's Full Year 2024 Outlook Texas Roadhouse provided its full-year 2024 outlook. Comparable sales for company-owned stores rose 8% YoY in the first four weeks of Q3 2024. Store week growth is expected to be around 7.5%, which includes the benefit of 2% from a 53rd week. Commodity cost inflation is expected to be around 2%. Total capital expenditure is expected to be between $360 million and $370 million. Wage and labor inflation is expected to be between 4% and 5%. Texas Roadhouse CEO Jerry Morgan commented, "We continued our momentum in the current quarter as strong traffic trends and some relief on commodity inflation led to increased profitability across all of our brands. With our operators delivering solid operating results and a balanced development pipeline, we are well positioned for the second half of the year." Texas Roadhouse analyst ratings and price targets are at MarketBeat. There are 22 analyst ratings on TXRH stock, comprised of 10 Buys and 12 Holds, with a 2.24% upside to the average consensus price target of $169.86. Written by Jea Yu Read this article online › Further Reading: | 
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