Texas Roadhouse Q3 2024 Financial Update

TL;DR

TXRH Q3 2024 10-Q filed. Financials look solid, check retained earnings.

AI Summary

Texas Roadhouse, Inc. filed its 10-Q for the period ending September 24, 2024. The filing details financial performance and operational updates for the company. Key financial figures such as retained earnings and additional paid-in capital are presented for various reporting dates throughout 2023 and 2024.

Why It Matters

This filing provides investors with a detailed look at Texas Roadhouse's financial health and performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 66789464 — Retained Earnings (Sept 24, 2024) (Represents accumulated profits of the company.)
• 66713823 — Retained Earnings (June 25, 2024) (Shows change in accumulated profits from prior quarter.)

Key Players & Entities

• Texas Roadhouse, Inc. (company) — Filer of the 10-Q report
• 0001558370-24-014095 (other) — Accession number for the filing
• 20240924 (date) — End of the reporting period
• 20241101 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• txrh-20240924x10q.htm (10-Q) — 1846KB
• txrh-20240924xex31d1.htm (EX-31.1) — 13KB
• txrh-20240924xex31d2.htm (EX-31.2) — 13KB
• txrh-20240924xex31d3.htm (EX-31.3) — 13KB
• txrh-20240924xex32d1.htm (EX-32.1) — 16KB
• 0001558370-24-014095.txt ( ) — 6068KB
• txrh-20240924.xsd (EX-101.SCH) — 33KB
• txrh-20240924_cal.xml (EX-101.CAL) — 55KB
• txrh-20240924_def.xml (EX-101.DEF) — 142KB
• txrh-20240924_lab.xml (EX-101.LAB) — 325KB
• txrh-20240924_pre.xml (EX-101.PRE) — 230KB
• txrh-20240924x10q_htm.xml (XML) — 957KB

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 — September 24, 2024 and December 26, 2023 3 Condensed Consolidated Statements of Income — For the 13 and 39 Weeks Ended September 24, 2024 and September 26, 2023 4 Condensed Consolidated Statements of Stockholders' Equity — For the 13 and 39 Weeks Ended September 24, 2024 and September 26, 2023 5 Condensed Consolidated Statements of Cash Flows — For the 39 Weeks Ended September 24, 2024 and September 26, 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 28

— 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) (unaudited) September 24, 2024 December 26, 2023 Assets Current assets: Cash and cash equivalents $ 189,205 $ 104,246 Receivables, net of allowance for doubtful accounts of $ 13 at September 24, 2024 and $ 35 at December 26, 2023 52,341 175,474 Inventories, net 39,842 38,320 Prepaid income taxes — 3,262 Prepaid expenses and other current assets 26,013 35,172 Total current assets 307,401 356,474 Property and equipment, net of accumulated depreciation of $ 1,182,014 at September 24, 2024 and $ 1,078,855 at December 26, 2023 1,574,465 1,474,722 Operating lease right-of-use assets, net 747,799 694,014 Goodwill 169,684 169,684 Intangible assets, net of accumulated amortization of $ 22,733 at September 24, 2024 and $ 20,929 at December 26, 2023 1,679 3,483 Other assets 112,787 94,999 Total assets $ 2,913,815 $ 2,793,376 Liabilities and Stockholders' Equity Current liabilities: Current portion of operating lease liabilities $ 28,476 $ 27,411 Accounts payable 130,850 131,638 Deferred revenue-gift cards 226,626 373,913 Accrued wages 88,698 68,062 Income taxes payable 2,775 112 Accrued taxes and licenses 49,158 42,758 Other accrued liabilities 100,981 101,540 Total current liabilities 627,564 745,434 Operating lease liabilities, net of current portion 802,576 743,476 Restricted stock and other deposits 9,468 8,893 Deferred tax liabilities, net 12,395 23,104 Other liabilities 138,568 114,958 Total liabilities 1,590,571 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, 66,713,823 and 6