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 ...

(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 ...