Restaurant Operations - As of March 30, 2021, the company operates 637 restaurants across 49 states and ten foreign countries[72]. - In Q1 2021, the company opened three new restaurants and plans to open 25 to 30 company restaurants in 2021[79]. - The company has signed franchise agreements in nine countries in the Middle East and other regions, with 28 international restaurants currently operating[82]. - The company is evaluating opportunities for market expansion and has plans to open as many as six Texas Roadhouse restaurants internationally in 2021[79]. - The company opened 3 new restaurants in Q1 2021, bringing the total to 637 restaurants by March 30, 2021[122]. - As of March 30, 2021, the company plans to open 25 to 30 new restaurants across all concepts in 2021, with 15 additional restaurants under construction[129]. Financial Performance - Total revenue increased by $148.1 million to $800.6 million in Q1 2021 compared to $652.5 million in Q1 2020, primarily due to an increase in average unit volumes and the opening of new restaurants[111]. - Comparable restaurant sales increased by 18.5% in Q1 2021, while store weeks increased by 4.1%[111]. - Net income increased by $48.1 million to $64.2 million in Q1 2021, with diluted earnings per share rising to $0.91 from $0.23 in Q1 2020[115]. - Restaurant and other sales increased by 22.7% in Q1 2021 compared to Q1 2020[123]. - In Q1 2021, total restaurant sales increased by 22.6% compared to Q1 2020, driven by a 17.5% increase in average unit volume and a 4.1% increase in store weeks[124]. - Comparable restaurant sales rose by 18.5% in Q1 2021, with guest traffic count growth of 13.0% and per person average check growth of 5.5%[125]. Cost Management - The average capital investment for Texas Roadhouse restaurants opened in 2021 is expected to be approximately $5.5 million, down from $6.2 million in 2020[80]. - Restaurant labor expenses accounted for 32.5% of restaurant and other sales in Q1 2021, down from 37.2% in Q1 2020[116]. - Food and beverage costs as a percentage of restaurant and other sales decreased to 31.6% in Q1 2021 from 32.5% in Q1 2020, despite commodity inflation of 1.8%[131]. - Restaurant labor expenses decreased to 32.5% of restaurant and other sales in Q1 2021, down from 37.2% in Q1 2020, due to increased average unit volume and employee retention payroll tax credits of $1.0 million[132]. - General and administrative expenses were 4.6% of total revenue in Q1 2021, compared to 5.1% in Q1 2020[116]. Capital and Investments - Capital expenditures totaled $38.7 million in Q1 2021, down from $46.7 million in Q1 2020, with expectations for 2021 capital expenditures between $210.0 million and $220.0 million[148]. - From inception through March 30, 2021, the company has repurchased 17,722,505 shares for a total of $369.0 million at an average price of $20.82 per share[90]. Tax and Credit Facilities - The effective tax rate increased to 16.2% in Q1 2021 compared to a benefit of 12.7% in Q1 2020, primarily due to a significant increase in pre-tax income[142]. - Interest expense, net, rose to $1.5 million in Q1 2021 from $0.1 million in Q1 2020, mainly due to additional borrowings on the credit facility[140]. - The company has a revolving credit facility of up to $200.0 million, with an option to increase by an additional $200.0 million, amended to $300.0 million on May 4, 2021[158]. - As of March 30, 2021, the company had $190.0 million outstanding on the original revolving credit facility and $50.0 million on the incremental revolving credit facility[155][164]. - The maturity date for the original revolving credit facility is August 5, 2022, while the amended facility extends to May 1, 2026[158]. Employee and Payroll Management - The company deferred $47.3 million in payroll taxes due to the CARES Act, with repayments scheduled for 2021 and 2022[68]. - The company recorded $1.0 million related to the Employee Retention Credit in Q1 2021, included in labor expense[71]. - Pre-opening costs incurred per restaurant opening average over 70% related to hiring and training employees[104]. Sales Initiatives - The company continues to focus on increasing sales through various initiatives, including the launch of the Texas Roadhouse Butcher Shop in Q4 2020[86]. - Franchise royalties and fees increased by $0.8 million, or 16.5%, in Q1 2021, driven by a 15.2% increase in comparable restaurant sales at domestic franchise stores[130]. Supply Chain Management - The company employs various purchasing techniques to secure low-cost ingredients, facing potential price volatility in commodities[170]. - The company relies on three vendors for beef supply, with no significant pandemic impact reported on sourcing capabilities[171].

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q1 2021 Earnings Conference Call April 29, 2021 5:00 PM ET Company Participants Tonya Robinson - Chief Financial Officer Jerry Morgan - Chief Executive Officer Conference Call Participants Brian Bittner - Oppenheimer Jake Bartlett - Truist Securities Dennis Geiger - UBS Peter Saleh - BTIG John Glass - Morgan Stanley David Palmer - Evercore ISI Jeffrey Bernstein - Barclays David Tarantino - Baird Brett Levy - MKM Partners Jared Garber - Goldman Sachs Chris O'Cull - Stifel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-50972 Texas Roadhouse, Inc. (Exact name of registrant specified in its charter) Delaware (State or other jurisdicti ...

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q4 2020 Results Conference Call February 18, 2021 5:00 PM ET Company Participants Tonya Robinson - CFO Kent Taylor - Founder & CEO Jerry Morgan - President Conference Call Participants Jake Bartlett - Truist Securities Dennis Geiger - UBS Peter Saleh - BTIG David Tarantino - Baird Lauren Silberman - Credit Suisse Brian Bittner - Oppenheimer John Glass - Morgan Stanley Jeffrey Bernstein - Barclays Brett Levy - MKM Partners Jeffrey Farmer - Gordon Haskett Andrew Strelzik - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 29, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-50972 Texas Roadhouse, Inc. (Exact name of registrant specified in its charter) Delaware 20-1083890 (State or other j ...

Financial Data and Key Metrics Changes - Comparable restaurant sales for Q3 2020 declined by 6.3%, with monthly declines of 13%, 6.6%, and 0.5% in July, August, and September respectively [22] - Total revenue for the quarter decreased by 3%, driven by a 7.2% decline in average weekly sales, partially offset by a 4.6% store week growth [25] - Restaurant margin as a percentage of total sales decreased by 219 basis points to 14.5% [25] - Cash flow from operations was $84 million, leading to an increase in cash to $329 million, up $46 million from the previous quarter [31] Business Line Data and Key Metrics Changes - To-Go sales accounted for approximately 23% of total sales in Q3 and about 20% in October [23] - Average weekly sales for To-Go remained consistent at approximately $21,000 per restaurant throughout the quarter [23] - The fast casual brand Jaggers saw significant increases in sales and margin performance over the past six months [13] Market Data and Key Metrics Changes - Approximately 40% of restaurants were at 100% capacity, with 32.5% of the total portfolio operating at full capacity [66] - Outdoor dining contributed an estimated 2% to 2.5% to comparable sales performance in Q3, with about 35% of restaurants offering outdoor dining [24] Company Strategy and Development Direction - The company is focusing on innovation, including the rollout of a new mobile app and testing drive-through windows [13] - Plans to open at least 20 new company-owned locations by the end of the year, with projections of up to 10 new openings in the first half of 2021 [32] - The company is exploring retail opportunities with minimal investment costs and potential for attractive margins [16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding sales recovery, with positive trends continuing into October [6][22] - The company anticipates mid-teen restaurant margins moving forward, despite ongoing pressures from labor and COVID-related costs [41][44] - Management noted that labor inflation is expected to persist into 2021, with state-mandated increases likely [55] Other Important Information - The company has implemented various safety measures and operational adjustments in response to COVID-19, including outdoor dining and curbside pickup [12][10] - G&A costs decreased by $9.3 million compared to the prior year, driven by reductions in travel and meeting expenses [30] Q&A Session Summary Question: What are the expectations for sales volumes moving forward? - Management noted that while some regions may see a decline in outdoor dining due to colder weather, they expect to maintain sales momentum through effective operational strategies [38][39] Question: Can you clarify margin expectations given current sales volumes? - Management indicated that while they expect mid-teen margins, they are being cautiously optimistic due to ongoing challenges related to labor and COVID-19 expenses [41][44] Question: How does the company view the impact of the butcher shop initiative on customer acquisition? - Management believes the butcher shop initiative will attract new customers without negatively impacting in-store sales, enhancing brand awareness [48] Question: What is the outlook for labor and commodity inflation in 2021? - Management expects labor inflation to continue, with potential state-mandated increases, while commodity inflation remains uncertain [50][55] Question: How is the company managing capacity utilization in restaurants? - Management stated that they are currently operating at about 98% of restaurants with some level of dining room capacity, and they are focused on maximizing seat utilization [66][58] Question: What are the common themes among best and worst-performing restaurants? - Management highlighted that operator talent and team dynamics significantly influence restaurant performance, with strong operators driving better results [113]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-50972 Texas Roadhouse, Inc. (Exact name of registrant specified in its charter) Delaware 20-1083890 (State or other jurisd ...

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q2 2020 Earnings Conference Call August 3, 2020 5:00 PM ET Company Participants Tonya Robinson - CFO Wayne Taylor - Founder, Chairman, CEO & President Conference Call Participants Brian Bittner - Oppenheimer Dennis Geiger - UBS Investment Bank Jeffrey Farmer - Gordon Haskett Research Advisors Christopher O'Cull - Stifel, Nicolaus & Company David Tarantino - Robert W. Baird & Co. Andy Barish - Jefferies Peter Saleh - BTIG Jared Garber - Goldman Sachs Group Brian Vaccaro - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-50972 Texas Roadhouse, Inc. (Exact name of registrant specified in its charter) Title of each class Trading Symbol(s) Nam ...

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q1 2020 Earnings Conference Call May 4, 2020 5:00 PM ET Company Participants Tonya Robinson - CFO Wayne Taylor - Founder, Chairman, CEO & President Conference Call Participants Brian Bittner - Oppenheimer David Palmer - Evercore ISI Dennis Geiger - UBS Investment Bank Jeffrey Farmer - Gordon Haskett Research Advisors Christopher O'Cull - Stifel, Nicolaus & Company Jon Tower - Wells Fargo Securities David Tarantino - Robert W. Baird & Co. Andrew Barish - Jefferies Peter Sa ...