Texas Roadhouse (NASDAQ:TXRH) reported its quarterly earnings for its latest period of the last fiscal year, which included earnings that were better than expected and revenue that were strong, yet TXRH stock was on the decline late in the day.
The Southern restaurant chain announced that for its fourth quarter of its 2018, it posted net income of roughly $30.3 million, which was also about 42 cents on a per-share basis. The Wall Street guidance was calling for the company to bring in earnings of 40 cents per share, according to a survey of nine analysts that was conducted by Zacks Investment Research.
Texas Roadhouse added that its revenue for the period tallied up to $605.9 million, which was also better than what analysts were calling for. Eight of them were surveyed by Zacks as well and their average believed the company would rake in sales of $597.5 million.
For the fiscal 2018, the restaurant operator brought in a net income of $158.2 million, or $2.20 per share, while its sales came in at $2.46 billion.
Texas Roadhouse was founded more than 25 years ago in Louisville, Kentucky, focusing on preparing steaks and other Western plates, as well as providing line dancing in its locations.
TXRH stock is down roughly 2.5% after the bell on Tuesday following the company’s results. Shares had been dipping a fraction of a percentage during regular trading hours in anticipation of Texas Roadhouse posting for the period.