US-based casual dining concept Texas Roadhouse has reported total revenue of $2.46bn for the fiscal year ending 25 December 2018 (FY2018).
Revenue increased by 10.7% from $2.22bn registered the previous year.
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For the full year of 2018, the company’s income from operations was up 0.9% reaching $187.79m, compared to $186.20m in 2017.
The restaurant company also reported a net income of $158.22m, a 20.3% rise compared to $131.53m for the same period in the previous year.
In addition, the restaurant chain reported a 19.6% increase in diluted EPS to $2.20, compared $1.84 for the same period in the previous year.
During the year, the dining chain opened 28 company restaurants, including five Bubba’s 33 and five international franchise restaurants.
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By GlobalDataTexas Roadhouse CEO Kent Taylor said: “We finished the year strong, with double-digit revenue growth for both the fourth quarter and full year.
“This represented the 36th consecutive quarter of positive comparable restaurant sales, with growth of 5.6% driven by increased traffic.
“In addition, our solid balance sheet and healthy cashflow allowed us to open 28 company restaurants this year, while also increasing our quarterly cash dividend to $0.30 per share which is our sixth straight year of increasing our dividends by double digits.”
Texas Roadhouse also reported a 5.4% increase in comparable restaurant sales of the company and a 4.3% increase in domestic franchise restaurants.
Furthermore, the restaurant chain expects to open 25 to 30 company restaurants including four Bubba’s 33 locations in 2019.
Established in 1993, Texas Roadhouse operates more than 580 system-wide restaurants in 49 US states and ten other countries.
