Earnings Call Insights: Texas Roadhouse (TXRH) Q4 2025 Management View CEO Gerald Morgan highlighted that "2025 was another successful year as revenue grew to nearly $5.9 billion, and all 3 brands delivered positive sales and traffic growth." The company celebrated its 800th system-wide restaurant opening and the acquisition of 20 franchise locations. Over 70% of restaurants set both daily and wee...
Earnings Call Insights: Texas Roadhouse (TXRH) Q4 2025 Management View CEO Gerald Morgan highlighted that "2025 was another successful year as revenue grew to nearly $5.9 billion, and all 3 brands delivered positive sales and traffic growth." The company celebrated its 800th system-wide restaurant opening and the acquisition of 20 franchise locations. Over 70% of restaurants set both daily and weekly sales records, the digital kitchen and guest management systems rollout was completed, and the support center buildings in Louisville were purchased. Morgan stated, "In 2025, we added 48 restaurants to our company-owned restaurant base... and our franchise partners opened 4 restaurants, including 3 international Texas Roadhouses and 1 domestic Jaggers." For 2026, the company expects "approximately 35 company restaurant openings across the 3 brands" and confirmed the acquisition of 5 California franchise restaurants at the start of the fiscal year. The company plans to implement a 1.9% menu price increase at the beginning of Q2 2026 and will focus on beverage offerings, including mocktails, dirty sodas, and a $5 all-day beverage special. CFO Mike Lenihan introduced himself, expressing, "I'm honored to have the privilege of joining Texas Roadhouse... I've immersed myself into the culture of the support center, learning about the incredible hard work, people-first approach and teamwork needed to support our restaurants." Keith Humpich, Chief Accounting & Financial Services Officer, noted, "Same-store sales increased 4.9% for the full year, including 2.8% traffic growth. Consolidated average unit volume exceeded $8.4 million with average weekly sales of over $166,000 at Texas Roadhouse, $122,000 at Bubba's 33 and nearly $73,000 at Jaggers." He also reported, "We still generated the second highest restaurant margin dollars, income from operations and earnings per share in our history." Outlook Humpich stated, "Our commodity inflation guidance of approximately 7% remains unch...
syahrir maulana/iStock via Getty Images By Jim Iuorio After years in the shadow of big tech, small-cap stocks are outperforming, and the reasons suggest the trend may have staying power. The Russell 2000's four-month outperformance against mega-cap tech represents one of 2025's most significant but underappreciated market rotations. In November, concerns around stretched valuations began to grow, ...
syahrir maulana/iStock via Getty Images By Jim Iuorio After years in the shadow of big tech, small-cap stocks are outperforming, and the reasons suggest the trend may have staying power. The Russell 2000's four-month outperformance against mega-cap tech represents one of 2025's most significant but underappreciated market rotations. In November, concerns around stretched valuations began to grow, and on November 20, E-mini Nasdaq-100 (NQ) options volume marked their third highest volume day as traders hedged and navigated tech uncertainty following Nvidia earnings and Non-Farm Payrolls (NFP) data. Since November 21, the small-cap Russell 2000 index has surged more than 16% and touched record highs on January 22. Over the same period, the Nasdaq climbed just 8%. The S&P 500 hasn't kept pace either, despite reaching its own new highs in late January. The shift marks a striking reversal from the previous three years, when artificial intelligence (AI) euphoria drove the Nasdaq up 145% while small caps languished. To fully understand the mechanics of this trade, let’s go back to the beginning. Years of Divergence In early 2023, the Nasdaq Composite began what would become a historic rally, surging 145% in less than three years. The advance was remarkable not just for its magnitude, but for its narrow leadership. A small group of mega-cap technology companies, particularly those at the forefront of the AI evolution, drove the bulk of the gains. To illustrate the magnitude of this move: When the Nasdaq reached its all-time high in November 2023, the S&P 500 trailed far behind with a gain of 79%, and the Russell 2000 lagged even further behind with a modest 43% gain. The tailwind for the Nasdaq was widely reported and dominated financial media headlines, while Russell's underperformance received less attention. The Case Against Small Caps The fundamental case for small-cap underperformance was multifaceted and, for a time, compelling. The most pressing concern centered on i...
President Donald Trump said he is directing federal agencies to release government documents that discuss extraterrestrial life and unexplained aerial phenomenon. (Source: Bloomberg)
President Donald Trump said he is directing federal agencies to release government documents that discuss extraterrestrial life and unexplained aerial phenomenon. (Source: Bloomberg)
US President Donald Trump said on Thursday that he was directing the Pentagon and other government agencies to identify and release files related to extraterrestrials and UFOs because of “tremendous interest”. Trump made the announcement in a social media post hours after he accused former president Barack Obama of disclosing “classified information” when Obama recently suggested in a podcast inte...
US President Donald Trump said on Thursday that he was directing the Pentagon and other government agencies to identify and release files related to extraterrestrials and UFOs because of “tremendous interest”. Trump made the announcement in a social media post hours after he accused former president Barack Obama of disclosing “classified information” when Obama recently suggested in a podcast interview that aliens were real. Trump told reporters aboard Air Force One: “I don’t know if they’re...