=Texas Roadhouse (TXRH) reported earnings on Mon 28 Oct 19 (a/h)

 Texas Roadhouse beats by $0.06, reports revs in-line

• Reports Q3 (Sep) earnings of $0.52 per share, $0.06 better than the S&P Capital IQ Consensus of $0.46; revenues rose 9.4% year/year to $650.49 mln vs the $648.49 mln S&P Capital IQ Consensus.
• Comparable restaurant sales increased 4.4% at company restaurants and 3.2% at domestic franchise restaurants
• Comparable restaurant sales at company restaurants for the first four weeks of our fourth quarter of fiscal 2019 increased 5.3% compared to the prior year period.
• Mgmt reiterated 2019 comps guidance of Positive comparable restaurant sales growth

2020 Outlook

• Management provided the following initial expectations for 2020:
  
  • Positive comparable restaurant sales growth;
  • At least 30 company restaurant openings, including as many as eight Bubba's 33 restaurants;
  • Store week growth of 3.5% to 4.5%, including the negative impact of lapping the 53rd week from 2019;
  • Commodity cost inflation of 1.0% to 2.0%;
  • Mid-single digit growth in labor dollars per store week; 
  • Total capital expenditures of $190 million to $200 million.