Texas Roadhouse misses by $0.09, misses on revs; increases dividend :
- Reports Q4 (Dec) earnings of $0.29 per share, $0.09 worse than the Capital IQ Consensus of $0.38; revenues rose 6.7% year/year to $484.71 mln vs the $497.25 mln Capital IQ Consensus.
- Comparable restaurant sales growth of 1.2% at company restaurants, including a negative impact of approximately 0.5% related to the calendar shift of the Christmas holiday, and 2.0% at domestic franchise restaurants
- Restaurant margin, as a percentage of restaurant sales, decreased 44 basis points to 17.1%. Wage rate inflation and higher costs associated with payroll taxes, insurance reserve adjustments and gift card fees more than offset the benefit of lower food costs
- Comparable sales at company restaurants for the first 55 days of Q1 increased 1.5%
- Co expects positive comparable restaurant sales growth in 2017
- On February 16, 2017, our Board of Directors authorized the payment of a quarterly cash dividend of $0.21 per share of common stock. This payment, which will be distributed on March 31, 2017 to shareholders of record at the close of business on March 15, 2017, represents a 10.5% increase from the cash dividend of $0.19 per share of common stock declared during each quarter of 2016.
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