Texas Roadhouse offers expanded To-Go and Curbside service options in response to the COVID-19/Coronavirus outbreak



Company withdrawing financial guidance for 2020 and drawing down revolving credit facility

Texas Roadhouse offers expanded To-Go and Curbside service options in response to the COVID-19/Coronavirus outbreakTexas Roadhouse, Inc. (NasdaqGS: TXRH), has expanded its “To-Go” program for its company-owned restaurants to include “curbside” and/or “drive-up” operating models as many states implement limited or no in-restaurant dining. At this time, Texas Roadhouse has no domestic restaurants closed due to the COVID-19/Coronavirus outbreak and is operating restaurants in a full, limited, or To-Go capacity depending on the store location.

“In the areas where our dining rooms are temporarily closed, we are committed to serving our communities across America with ramped-up To-Go, Family Value Packs, and curbside service,” said Kent Taylor, Founder and CEO of Texas Roadhouse. “As we know, Texas Roadhouse and the entire foodservice industry play a vital role in our nation’s food supply and you can count on us to do our part to support our communities.”

Increasing Cash Reserves

The Company has increased its cash position by drawing down $190 million under its revolving credit facility to bolster its already strong cash position. With the draw down, and existing cash, the Company will have over $300 million in cash on hand with an option to increase its credit facility by an additional $200 million.

The increased borrowing was taken as a precautionary measure  to  provide  enhanced  financial  flexibility considering the uncertain market conditions arising from the COVID-19/Coronavirus pandemic.

2020 Outlook

Due to the current unprecedented global market and economic conditions in the United States and around the world, the Company is withdrawing financial guidance for the fiscal year ending December 29, 2020. The Company plans to provide an update on the business on its First Quarter earnings call and will provide updated financial guidance to the extent it can reasonably estimate the impact of the outbreak and changing market conditions.

Texas Roadhouse is a casual dining concept that first opened in 1993 and today has grown to over 610 restaurants system-wide in 49 states and ten foreign countries. For more information, please visit the Company’s Website at www.texasroadhouse.com.