Texas Roadhouse Q2 2024: Retained Earnings Stable

TL;DR

TXRH Q2 earnings stable, retained earnings holding steady around $668M.

AI Summary

Texas Roadhouse, Inc. filed its quarterly report for the period ending June 25, 2024. The company reported retained earnings of $667.9 million as of June 25, 2024, compared to $667.3 million as of March 26, 2024. Additional Paid-In Capital also saw an increase from the prior year's comparable period.

Why It Matters

This filing provides insight into Texas Roadhouse's financial health and profitability trends, which can influence investor confidence and stock performance.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments indicated.

Key Numbers

• $667.9M — Retained Earnings (As of June 25, 2024, showing a slight increase from the previous quarter.)
• $667.3M — Retained Earnings (As of March 26, 2024, indicating financial stability.)

Key Players & Entities

• Texas Roadhouse, Inc. (company) — Filer of the 10-Q report
• 6040 DUTCHMANS LANE, LOUISVILLE, KY 40205 (location) — Company's business and mailing address
• $667,894,640 (dollar_amount) — Retained Earnings as of June 25, 2024
• $667,278,980 (dollar_amount) — Retained Earnings as of March 26, 2024

FAQ

Key Financial Figures

• $0.001 — h registered Common Stock , par value $0.001 per share TXRH NASDAQ Global Select

Filing Documents

• txrh-20240625x10q.htm (10-Q) — 1850KB
• txrh-20240625xex10d1.htm (EX-10.1) — 18KB
• txrh-20240625xex31d1.htm (EX-31.1) — 13KB
• txrh-20240625xex31d2.htm (EX-31.2) — 13KB
• txrh-20240625xex31d3.htm (EX-31.3) — 13KB
• txrh-20240625xex32d1.htm (EX-32.1) — 16KB
• 0001558370-24-010663.txt ( ) — 6105KB
• txrh-20240625.xsd (EX-101.SCH) — 32KB
• txrh-20240625_cal.xml (EX-101.CAL) — 55KB
• txrh-20240625_def.xml (EX-101.DEF) — 142KB
• txrh-20240625_lab.xml (EX-101.LAB) — 323KB
• txrh-20240625_pre.xml (EX-101.PRE) — 229KB
• txrh-20240625x10q_htm.xml (XML) — 965KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

— Financial Statements (Unaudited) — Texas Roadhouse, Inc. and Subsidiaries

Item 1 — Financial Statements (Unaudited) — Texas Roadhouse, Inc. and Subsidiaries 3 Condensed Consolidated Balance Sheets — June 25, 2024 and December 26, 2023 3 Condensed Consolidated Statements of Income — For the 13 and 26 Weeks Ended June 25, 2024 and June 27, 2023 4 Condensed Consolidated Statements of Stockholders' Equity — For the 13 and 26 Weeks Ended June 25, 2024 and June 27, 2023 5 Condensed Consolidated Statements of Cash Flows — For the 26 Weeks Ended June 25, 2024 and June 27, 2023 7 Notes to Condensed Consolidated Financial Statements 8

— Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 — Management's Discussion and Analysis of Financial Condition and Results of Operations 16

— Quantitative and Qualitative Disclosures About Market Risk

Item 3 — Quantitative and Qualitative Disclosures About Market Risk 27

— Controls and Procedures

Item 4 — Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

— Legal Proceedings

Item 1 — Legal Proceedings 29

— Risk Factors

Item 1A — Risk Factors 29

— Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 29

— Defaults Upon Senior Securities

Item 3 — Defaults Upon Senior Securities 29

— Mine Safety Disclosures

Item 4 — Mine Safety Disclosures 29

— Other Information

Item 5 — Other Information 30

— Exhibits

Item 6 — Exhibits 30

Signatures

Signatures 31 2 Table of Contents

— FINANCIAL INFORMATIO N

PART I — FINANCIAL INFORMATIO N

— FINANCIAL STATEMENT S

ITEM 1 — FINANCIAL STATEMENT S Texas Roadhouse, Inc. and Subsidiaries Condensed Consolidated Balance Sheet s (in thousands, except share and per share data) June 25, 2024 December 26, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 197,454 $ 104,246 Receivables, net of allowance for doubtful accounts of $ 27 at June 25, 2024 and $ 35 at December 26, 2023 68,599 175,474 Inventories, net 41,199 38,320 Prepaid income taxes — 3,262 Prepaid expenses and other current assets 26,034 35,172 Total current assets 333,286 356,474 Property and equipment, net of accumulated depreciation of $ 1,155,242 at June 25, 2024 and $ 1,078,855 at December 26, 2023 1,523,393 1,474,722 Operating lease right-of-use assets, net 726,378 694,014 Goodwill 169,684 169,684 Intangible assets, net of accumulated amortization of $ 22,039 at June 25, 2024 and $ 20,929 at December 26, 2023 2,374 3,483 Other assets 106,796 94,999 Total assets $ 2,861,911 $ 2,793,376 Liabilities and Stockholders' Equity Current liabilities: Current portion of operating lease liabilities $ 28,308 $ 27,411 Accounts payable 136,789 131,638 Deferred revenue-gift cards 250,485 373,913 Accrued wages 84,920 68,062 Income taxes payable 6,073 112 Accrued taxes and licenses 45,580 42,758 Other accrued liabilities 92,172 101,540 Total current liabilities 644,327 745,434 Operating lease liabilities, net of current portion 779,517 743,476 Restricted stock and other deposits 9,617 8,893 Deferred tax liabilities, net 17,733 23,104 Other liabilities 133,027 114,958 Total liabilities 1,584,221 1,635,865 Texas Roadhouse, Inc. and subsidiaries stockholders' equity: Preferred stock ($ 0.001 par value, 1,000,000 shares authorized; no shares issued or outstanding) — — Common stock ( $ 0.001 par value, 100,000,000 shares authorized, 66,727,898 and 66,789,464 shares issu