Although it continued to struggle with high beef prices and rising health care expenses, Louisville-based casual dining restaurant Texas Roadhouse reported an 11 percent increase in net income in 2015.
The company’s net income rose to $96.9 million from $87 million in 2014. Its revenue also increased 14 percent to $1.8 billion from $1.6 billion in 2014.
Earnings per share also jumped 11 percent to $1.37 in 2015, while same-store sale rose 7.2 percent at company-owned restaurants and 6.5 percent at franchisee-owned stores. The fourth quarter of 2015 marked the 24th consecutive quarter of same-store sales growth for the company, according to a news release.
“We ended the year on a strong note,” Kent Taylor, Texas Roadhouse’s founder and CEO, said in the release. “Looking ahead, we will stay focused on solidifying our long-term brand position and capitalizing on our growth potential.”
Texas Roadhouse expects to open 30 new restaurants this year and expects to experience 1 percent to 2 percent food cost deflation.