Overview
- Revenue rose 12.8% year over year to $1.44 billion, while GAAP EPS of $1.25 missed consensus.
- Same-store sales increased 6.3% on stronger traffic and a steak-heavy mix that boosted sales but raised food costs.
- Operating margin declined to 6.7% from 8% a year ago, and adjusted EBITDA of $149.6 million fell short of estimates.
- A 1.7% menu price increase took effect at the start of Q4 as the company maintains a conservative, local pricing approach.
- Leaders expect roughly 7% commodity inflation in 2026, advance a near-complete tech rollout to 95% of locations, and continue expansion to 806 restaurants with retail items in 120,000+ outlets.