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 ...

(Mark Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 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 ...

Financial Data and Key Metrics Changes - For Q4 2019, Texas Roadhouse reported revenue growth of 19.7%, driven by 12.9% store week growth and a 6.8% increase in average sales volume [16] - Diluted earnings per share grew by 45.4%, positively impacted by an extra week in the December period, which contributed approximately $0.10 to $0.11 to diluted earnings per share [16][17] - Comparable restaurant sales increased by 4.4%, with a 1.5% traffic growth and a 2.9% increase in average check [17] - Restaurant margin dollars per store week grew by 13.9%, and restaurant margin as a percentage of total sales increased by 117 basis points to 17.1% compared to the prior year [19] Business Line Data and Key Metrics Changes - Bubba's 33 saw comparable sales growth of 7.1% for the full year 2019, with lunch additions contributing 2% to that growth [11] - The company plans to open at least 30 new company restaurants in 2020, including up to seven Bubba's 33 locations [10] Market Data and Key Metrics Changes - The company experienced a 4.7% increase in comparable restaurant sales for the full year 2019, with a 1.8% increase in guest counts [6] - For the first seven weeks of 2020, comparable sales increased approximately 6.4% [17] Company Strategy and Development Direction - The company is focused on maintaining strong sales growth and operational efficiency, with plans to relocate six older company restaurants over the next 12 months [12] - Texas Roadhouse aims to drive shareholder value through share repurchases and dividend increases, having repurchased over 2.6 million shares in 2019 and increased dividends for the seventh consecutive year [13] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued wage rate pressure and moderate commodity inflation in 2020, with plans for a price increase of 0.5% to 1% in Q2 [8][9] - The company expects positive comparable sales growth for 2020 and restaurant store week growth of 3.5% to 4.5% [28] Other Important Information - The company ended 2019 with $108 million in cash, down from $210 million the previous year, while generating $374 million in cash flow from operations [27] - The company’s G&A costs for Q4 increased by $2.3 million to 5.3% as a percentage of revenue, but decreased by 66 basis points compared to the prior year [24] Q&A Session Summary Question: Margin growth in 2020 - Management indicated uncertainty regarding margin growth due to various factors, including pricing and labor costs [34] Question: Labor scheduling efficiencies - Management noted that labor efficiencies vary by store and are being managed individually [38] Question: Pricing philosophy - Management emphasized a conservative approach to pricing, primarily to offset inflation rather than to drive margin expansion [51] Question: Unit economics of Bubba's - Management reported strong comparable sales growth at Bubba's and noted improvements in margins [53] Question: Commodity inflation outlook - Management expects higher inflation in the first half of the year, with benefits in the back half due to locked prices on over 50% of the commodity basket [94]

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 24, 2019 OR (Registrant's telephone number, including area code) ☐ 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 ...

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q3 2019 Earnings Conference Call October 28, 2019 5:00 PM ET Company Participants Tonya Robinson – Chief Financial Officer Kent Taylor – Founder and Chief Executive Officer Conference Call Participants David Tarantino – Baird Brian Bittner – Oppenheimer and Company John Glass – Morgan Stanley Jeffrey Bernstein – Barclays Brian Vaccaro – Raymond James Will Slabaugh – Stephens Incorporated Chris O’Cull – Stifel David Palmer – Evercore ISI Dennis Geiger – UBS Andy Barish – J ...

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 25, 2019 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 2019 Earnings Conference Call July 29, 2019 5:00 PM ET Company Participants Kent Taylor - CEO Tonya Robinson - CFO Conference Call Participants David Tarantino - Baird John Glass - Morgan Stanley Dennis Geiger - UBS Jeffrey Bernstein - Barclays Will Slabaugh - Stephens Chris O'Cull - Stifel Andrew Strelzik - BMO Capital Markets Peter Saleh - BTIG David Palmer - Evercore ISI Brandon Sonnemaker - JPMorgan Jeremy Scott - Mizuho Brian Vaccaro - Raymond James Operator Good ...

Table of Contents For the transition period from to Commission File Number 000-50972 Texas Roadhouse, Inc. (Exact name of registrant specified in its charter) 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 26, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION (State or other jurisdiction of (IRS Empl ...

Texas Roadhouse, Inc. (NASDAQ:TXRH) Q1 2019 Earnings Conference Call April 29, 2019 5:00 PM ET Company Participants Scott Colosi - President Tonya Robinson - CFO Conference Call Participants David Tarantino - Robert W. Baird Jeffrey Bernstein - Barclays Peter Saleh - BTIG Stephen Anderson - Maxim Group John Glass - Morgan Stanley Andy Barish - Jefferies Chris O'Cull - Stifel, Nicolaus & Company Andrew Strelzik - BMO Capital Markets Will Slabaugh - Stephens John Ivankoe - JPMorgan Bob Derrington - Telsey Adv ...

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 25, 2018 Texas Roadhouse, Inc. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000‑50972 For the transition period from to Louisville, Kentucky 40205 (Address of principal executive offices) (Zip Code) (502) 42 ...