Texas Roadhouse Q1 Earnings Top Expectations, Shares Rise

Shares of

jumped over 5 percent in after-hours trading after the company reported better-than-expected earnings for the first quarter on Monday. The Louisville, Kentucky-based company reported quarterly earnings of $32.3 million, or $0.46 per share, compared to $26.5 million, or $0.37 per share, in the year-ago quarter. Its revenue rose to $460.2 million from $397.1 million. However, analysts were expecting a profit of $0.44 per share on revenue of $466.5.3 million. The average estimate among 10 Estimize users was for earnings of $0.44 per share on revenue of $464.64 million. Its comparable restaurant sales climbed 8.9 percent at company restaurants in the quarter, while comparable restaurant sales surged 8.0 percent at franchise restaurants. Income from operations climbed to $48.6 million, compared to $40.2 million in the year-ago quarter. Restaurant margin shrank 20 basis points to 19.0 percent. Kent Taylor, Chief Executive Officer of Texas Roadhouse, Inc., commented, "We are off to a strong start for the year with another quarter of solid revenue growth driven by increasing guest counts and new restaurant development. We credit our success to our value proposition with consumers and our ability to execute at the restaurant level even in the face of continued commodity inflation. Our development plans for 2015 remain on track with 25 to 30 company restaurant openings this year." Texas Roadhouse shares gained 5.44 percent to $35.50 in the after-hours trading session.