Lower food costs benefit Texas Roadhouse

• Texas Roadhouse (NASDAQ:TXRH) reports comparable restaurant sales increased 4.5% at company-owned stores and 2.6% at franchised outlets in Q2.
• The company saw its restaurant margin rate was up 302 bps to 19.2%, with lower food costs a factor.
• Looking ahead, Texas Roadhouse sees food cost deflation of 2.5% to 3.0% this year, a larger benefit than the 1% to 2% drop that was originally anticipated.
• Previously: Texas Roadhouse beats by $0.02, misses on revenue (Aug. 1)
• TXRH -4.40% AH to $45.60.