Texas Roadhouse slips on third-quarter profit miss
TXRH•Texas Roadhouse reported adjusted third-quarter earnings of $1.36 per share, below analysts’ expectations of $1.46, while revenue of $1.57 billion also fell short of estimates of $1.58 billion.
1. Earnings and revenue
Texas Roadhouse shares fell 3.5% in morning trading after the company reported third-quarter adjusted earnings of $1.36 per share, below analysts’ expectations of $1.46. Revenue of $1.57 billion was just short of analysts’ estimates of $1.58 billion.
2. Sales concerns
A late-August social media controversy weighed on comparable sales growth and could continue to pressure near-term traffic trends, a Morningstar Equity analyst said in a note. Nineteen of 28 brokerages rate the stock “buy” or higher, while nine rate it “hold”; the median price target is $210.
