Texas Roadhouse Reports Strong FY23 Results, Plans Expansion

The restaurant chain's fourth-quarter revenue surged by 15.3%, with plans for new openings and a menu price increase in 2024.

Texas Roadhouse Inc. reported a 15.3% increase in fourth-quarter revenue, reaching $1.164 billion, and a 15.4% increase in yearly revenue to $4.63 billion.
The company's fourth-quarter net income rose to $72.4 million, with earnings per share of $1.08, surpassing Wall Street expectations.
Texas Roadhouse announced the opening of 19 new restaurants and plans for further expansion, including a 2.2% menu price increase in late March 2024.
The company's Board of Directors authorized a quarterly cash dividend of $0.61 per share, an 11% increase from the previous year.
Comparable restaurant sales at company restaurants for the first 50 days of Q1 FY24 increased by 6.8%.