Texas Roadhouse (TXRH)

Exhibit 99.1

Texas Roadhouse, Inc. Announces First Quarter 2012 Results

LOUISVILLE, KY. (April 30, 2012) — Texas Roadhouse, Inc. (NasdaqGS: TXRH), today announced financial results for the 13 week period ended March 27, 2012.

(1) includes a charge related to a legal settlement discussed below

Results for the first quarter included:

·                  Before a one-time charge, diluted earnings per share increased 15.3% to $0.31 from $0.27 in the prior year period;

·                  The Company recorded a one-time, pre-tax charge of $5.0 million ($3.1 million after-tax) for a legal settlement, which had a $0.04 impact on diluted earnings per share;

·                  Comparable restaurant sales increased 6.0% at company restaurants and 6.9% at franchise restaurants;

·                  Eight company restaurants were opened;

·                  Restaurant margins, as a percentage of restaurant sales, decreased 13 basis points to 19.1%.

Kent Taylor, Chief Executive Officer of Texas Roadhouse, commented, “We were pleased with our performance during the period and believe that Texas Roadhouse remains very well poised for continued growth.  Our sales momentum continued throughout the quarter for both existing and new restaurants, and we remain on track to open 25 restaurants in 2012.  Additionally, we continue to work toward at least 25 new restaurant openings in 2013.  Finally, our balance sheet remains strong and we will continue to evaluate ways to return capital to shareholders through dividends and future share repurchases.”

2012 Outlook

The Company reported that comparable restaurant sales at company restaurants for the first four weeks of its second quarter of fiscal 2012 increased approximately 4.8% compared to the prior year period.

The Company currently anticipates that GAAP diluted earnings per share for 2012, which includes the legal settlement charge discussed below, will be $0.91 to $0.93.  This compares to diluted earnings per share of $0.88 in 2011.  The updated guidance is based, in part, on the following assumptions:

·                  Comparable restaurant sales growth of 4.0% to 5.0%;

·                  25 company restaurant openings;

·                  Food cost inflation of 7.0% to 7.5%, slightly lower than previously expected;

·                  A pre-tax charge of $5.0 million ($3.1 million after-tax) for a legal settlement.  This charge is expected to negatively impact 2012 diluted earnings per share by approximately $0.04;

·                  An income tax rate of 32.5% to 33.0%, which is much higher than the prior year rate of 29.5% as a result of the expiration of certain federal tax credits at the end of 2011.  The increased tax rate is expected to negatively impact 2012 diluted earnings per share by approximately $0.04; and

·                  Total capital expenditures of $80.0 to $85.0 million.

Settlement of a Legal Matter

The Company reached a settlement agreement, subject to court approval, of a previously disclosed legal matter relating to Massachusetts wage law.  Accordingly, a pre-tax charge of $5.0 million, or $0.04 per diluted earnings per share, is included in the Company’s financial results for the first quarter.  A reconciliation of GAAP and non-GAAP information for the first quarter of fiscal 2012 is included with this release.

The Company is hosting a conference call today, April 30, 2012, at 5:00 p.m. Eastern Time to discuss these results.  The dial-in number is (888) 811-5436 or (913) 312-0947 for international calls. A replay of the call will be available for one week following the conference call.  To access the replay, please dial (877) 870 -5176 or (858) 384-5517 for international calls, and use 8483988 as the pass code.  There will be a simultaneous Web cast conducted at www.texasroadhouse.com.

About the Company

Texas Roadhouse is a casual dining concept that first opened in 1993 and today operates over 370 restaurants system-wide in 47 states and one foreign country.  For more information, please visit the Company’s Web site at www.texasroadhouse.com.

Certain statements in this release that are not historical facts, including, without limitation, those relating to our anticipated financial performance, are forward-looking statements that involve risks and uncertainties.  Such statements are based upon the current beliefs and expectations of the management of the Company.  Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, the actual number of restaurants opening, the sales at these and our other company and franchise restaurants, changes in restaurant development or operating costs, such as food and labor, our ability to acquire franchise restaurants, our ability to integrate the franchise restaurants we acquire or other concepts we develop, strength of consumer spending, conditions beyond the Company’s control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Company’s customers or food supplies, acts of war or terrorism and other factors disclosed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission.  Investors should take such risks into account when making investment decisions.  Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.  The Company undertakes no obligation to update any forward-looking statements.

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Contacts:

Investor Relations

Tonya Robinson

502-515-7300

Media

Travis Doster

502-638-5457

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(in thousands, except per share data)

(unaudited)

(1) Results for the 13 weeks ended March 27, 2012 include a $5.0 milllion pre-tax charge relating to the settlement of a legal matter.

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands)

Texas Roadhouse, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Texas Roadhouse, Inc. and Subsidiaries

Supplemental Financial and Operating Information

($ amounts in thousands, except weekly sales by group)

(unaudited)

(1)  Comparable restaurant sales growth includes sales from restaurants open 18 months as of the beginning of the measurement period, excluding sales from restaurants closed during the period.

(2)  Average unit volume includes sales from Texas Roadhouse restaurants open six months as of the beginning of the measurement period, excluding sales from restaurants closed during the period.

(3)  Weekly sales by group (Texas Roadhouse restaurants only) includes sales from comparable restaurants, sales from average unit restaurants and sales from restaurants which were open less than six months as of the beginning of the measurement period.  Average unit volume restaurants includes sales from restaurants open less than 18 months, but more than six months, as of the beginning of the measurement period, excluding sales from restaurants closed during the period.

(4)  Restaurant margins represent restaurant sales less restaurant operating costs (as a percentage of restaurant sales).

(5) Results for the 13 weeks ended March 27, 2012 include a $5.0 milllion pre-tax charge for the settlement of a legal matter.

Amounts may not foot due to rounding.

Texas Roadhouse, Inc. and Subsidiaries

Reconciliation of GAAP and Non-GAAP Information

(in thousands, except per share data)

(unaudited)

In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) throughout this document, the Company has provided non-GAAP measurements which present operating results on a basis before the impact of a settlement of a legal matter.  This item is described in detail throughout this document.

The Company used earnings before the impact of the legal settlement as a key performance measure of results of operations for purposes of evaluating performance internally.  This non-GAAP measurement is not intended to replace the presentation of our financial results in accordance with GAAP.  Rather, the Company believes that the presentation of results before the legal settlement provides additional information to facilitate the comparison of past and present operations, excluding items that the Company does not believe are indicative of our ongoing operations in the quarter ended March 27, 2012.

(1)  Amount reserved in the first quarter of fiscal 2012 for the settlement of a legal matter was $5.0 million before the statutory income tax rate.  The settlement amount was included in general and administrative costs on the Company’s Condensed Consolidated Statements of Income and Comprehensive Income.