Texas Roadhouse, Inc. Q3 2026 Earnings Recap

Texas Roadhouse shares fell 4.1% after earnings, with investors likely focused on the slowdown in comparable sales: growth was 1.5% in the first five weeks of Q4, versus 4.3% in Q3. Management cited sequential improvement into early November, but the Q4 update also came with higher 2026 capital-spending guidance.

Key Takeaways

• Q3 revenue was $1.6 billion; same-store sales rose 4.3%, including 0.7% traffic growth.
• Comparable sales grew 1.5% in the first five weeks of Q4; the company said this included an approximately 30-basis-point drag from Halloween’s calendar shift.
• Q3 commodity inflation was 2%; full-year 2026 commodity inflation guidance remains approximately 5%, with 2027 guidance at approximately 4%.
• 2026 capital expenditure guidance increased from approximately $400 million to $440 million; 2027 guidance is approximately $425 million.
• The company expects to open approximately 35 company-owned restaurants in both 2026 and 2027, with 18 of next year’s locations already under construction.