Why Is Texas Roadhouse Stock Surging Premarket Friday?
Portfolio Pulse from Lekha Gupta
Texas Roadhouse Inc (NASDAQ:TXRH) shares surged premarket Friday after reporting strong fourth-quarter FY23 results. Revenue increased by 15.3% Y/Y to $1.164 billion, surpassing consensus estimates. Comparable restaurant sales also saw significant growth. The company announced an 11% increase in its quarterly cash dividend to $0.61 per share and repurchased shares worth $4.8 million. Texas Roadhouse reiterated its FY24 outlook, expecting positive comparable restaurant sales growth and a menu price increase of about 2.2% in late March.
February 16, 2024 | 1:44 pm
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Texas Roadhouse Inc reported strong Q4 FY23 results with revenue growth and an increased dividend, positively impacting its stock price.
The positive earnings report, revenue growth, and increased dividend payment signal strong financial health and operational efficiency, likely leading to increased investor confidence and a short-term positive impact on TXRH's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100