Texas Roadhouse, Inc. (NASDAQ:TXRH) Q2 2022 Earnings Conference Call July 28, 2022 5:00 PM ET

Company Participants

Tonya Robinson - Chief Financial Officer

Jerry Morgan - Chief Executive Officer

Conference Call Participants

Brian Bittner - Oppenheimer

Jared Garber - Goldman Sachs

David Tarantino - Baird

Chris O’Cull - Stifel

Jeffrey Bernstein - Barclays

Peter Saleh - BTIG

Eric Gonzalez - KeyBanc

Chris Carril - RBC Capital Markets

David Palmer - Evercore

John Glass - Morgan Stanley

Lauren Silberman - Credit Suisse

Jon Tower - Citigroup

Andrew Strelzik - BMO

Jeff Farmer - Gordon Haskett

Brian Mullan - Deutsche Bank

Dennis Geiger - UBS

Andy Barish - Jefferies

John Ivankoe - JPMorgan

Jim Sanderson - Northcoast Research

Brian Vaccaro - Raymond James

Sara Senatore - Bank of America

Jake Bartlett - Truist Securities

Operator

Good evening, and welcome to the Texas Roadhouse Second Quarter Earnings Conference Call. Today’s call is being recorded. All participants are now in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to introduce Tonya Robinson, the Chief Financial Officer of Texas Roadhouse. You may begin your conference.

Tonya Robinson

Thank you, Emma and good evening, everyone. By now you should have accessed to our earnings release for the second quarter ended June 28th, 2022, it may also be found on our website at texasroadhouse.com in the Investors section.

Before we begin our formal remarks, I need to remind everyone that part of our discussion today will include forward-looking statements. These statements are not guarantees of future performance, and therefore undue reliance should not be placed upon them. We refer all of you to our earnings release and our recent filings with the SEC. These documents provide a more detailed discussion of the relevant factors that could cause actual results to differ materially from those forward-looking statements, including factors related to the COVID-19 pandemic.

In addition, we may refer to non-GAAP measures. If applicable, reconciliations of the non-GAAP measures to the GAAP information can be found in our earnings release. On the call with me today is; Jerry Morgan, Chief Executive Officer of Texas Roadhouse. Following our remarks, we will open the call for questions.

Now I’d like to turn the call over to Jerry.

Jerry Morgan

Thanks, Tonya and good evening. We are pleased with our second quarter results driven by impressive sales at our concepts. For the quarter, our restaurants averaged over $135,000 in sales per week. It was great to see that dine-in guest counts at comparable restaurants remained above both 2021 and 2019 levels throughout the quarter. It was also encouraging that our restaurants still average nearly $18,000 per week in To-Go sales, seeing our operators generating these sales volumes, both in the dining room and in To-Go is why our enthusiasm for the future remains as high as ever.