Texas Roadhouse, Inc. (NASDAQ:TXRH) Q2 2020 Earnings Conference Call - Final Transcript

Aug 03, 2020 • 05:00 pm ET


Texas Roadhouse, Inc. (NASDAQ:TXRH) Q2 2020 Earnings Conference Call - Final Transcript


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Good evening, and welcome to the Texas Roadhouse Second Quarter Earnings Conference Call. Today's call is being recorded. All participants are now in a listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].

I would now like to introduce Tonya Robinson, the Chief Financial Officer of Texas Roadhouse. You may begin your call.

Tonya Robinson

Thank you, April and good evening, everyone. By now, you should have access to our earnings release for the second quarter ended June 30th, 2020. It may also be found on our website at texasroadhouse.com in the Investors section.

Before we begin our formal remarks, I need to remind everyone that part of our discussion today will include forward-looking statements. These statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer all of you to our earnings release and our recent filings with the SEC. These documents provide a more detailed discussion of the relevant factors that could cause actual results to differ materially from those forward-looking statements, including factors related to the COVID-19 outbreak. In addition, we may refer to non-GAAP measures. If applicable, reconciliations of the non-GAAP measures to the GAAP information can be found in our earnings release.

On the call with me today is Kent Taylor, Founder and Chief Executive Officer of Texas Roadhouse. Following our remarks, we will open the call for questions.

Now I'd like to turn the call over to Kent.

W. Kent Taylor

Thanks, Tonya. Legendary Food and Legendary Service, it's a simple mission statement that has guided Texas Roadhouse for over 27 years. And despite the events over the last 4.5 months, these words have remained a cornerstone of our culture and philosophy. From pivoting to To-Go only back in March to now executing limited capacity and outdoor dining along with traditional and curbside pickup, our managing partners deserve a huge thank you. They continue to work tirelessly to make sure they take care of every guests, while at the same time providing a safe environment for our Roadies. Their jobs have never been more difficult as they now have the added responsibility of ensuring compliance with local capacity guidelines for operating their dining rooms, while managing through the unique set of circumstances that has seen their restaurants To-Go volumes remain well above historical levels. Despite this, our operators continue to find creative ways to adapt to the daily challenges they face. And the upward momentum of our sales show that their efforts are paying-off. Through it all, taking care of our employees has remained a top priority. As we have previously talked about, early on, we provided PPE to our employees and since then have added symptom surveys, temperature checks, and partitions in our dining rooms.

I'm particularly proud to note that in the second quarter of 2020, we spent approximately $4.7 million on added compensation, sick pay and benefits for our front-line folks and we will continue to focus on their safety both near and long-term.