The earnings call highlighted significant growth in earnings per share, robust new restaurant openings, and positive consumer engagement, indicating strong performance and strategic execution. However, challenges with traffic declines and location closures present areas for improvement.

Company Guidance

During the third quarter 2024 earnings call, The Cheesecake Factory provided comprehensive guidance, highlighting a robust performance with $865 million in total revenues, marking a 3% increase in Cheesecake Factory restaurant sales and a 15% rise in North Italia sales compared to the previous year. The company reported a significant 49% growth in adjusted earnings per share year-over-year, with a cumulative growth of over 31% over the past four quarters. The Cheesecake Factory's restaurant level margins improved by 180 basis points, averaging 16.4% over the last four quarters. Looking ahead, the company plans to open as many as 22 new restaurants in 2024 and anticipates further acceleration in 2025 with up to 24 new openings. For the fourth quarter, they project revenues between $905 million and $915 million, maintaining a pricing strategy of 4.5% to offset inflation, with an expected net income margin of 4.8% to 4.9%. The company remains focused on leveraging its scale for operational efficiencies and is committed to shareholder value creation.

Strong Earnings Growth

Cheesecake Factory reported an adjusted earnings per share growth of 49% from the prior year and a cumulative growth of over 31% over the past four quarters.

Robust Restaurant Openings

In Q3, Cheesecake Factory successfully opened 4 restaurants, with a total of 17 openings so far this year, and plans to open as many as 22 new restaurants in 2024.

Cheesecake Factory Sales Performance

Comparable sales increased by 1.6% from the prior year, with total sales at Cheesecake Factory restaurants reaching $647.8 million, up 3% from the prior year.

North Italia and Flower Child Growth

North Italia's comparable sales increased by 2%, and Flower Child's average weekly sales were up more than 6% from the third quarter of 2023.

Improved Operational Metrics

Restaurant level margins improved by 180 basis points from Q3 2023, with other operational benefits like better labor productivity and lower food waste.

Positive Consumer Engagement

The Cheesecake Rewards program continues to exceed expectations, driving incremental visits and high guest satisfaction scores.

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Cheesecake Factory (CAKE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CAKE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2025	2024 (Q4)	0.91 / -	0.8	―	―	―
Oct 29, 2024	2024 (Q3)	0.52 / 0.58	0.39	48.72% (+0.19)
Jul 31, 2024	2024 (Q2)	1.00 / 1.09	0.88	23.86% (+0.21)
May 08, 2024	2024 (Q1)	0.63 / 0.73	0.61	19.67% (+0.12)
Feb 21, 2024	2023 (Q4)	0.73 / 0.80	0.56	42.86% (+0.24)
Nov 01, 2023	2023 (Q3)	0.42 / 0.39	-0.03	1400.00% (+0.42)
Aug 02, 2023	2023 (Q2)	0.82 / 0.88	0.52	69.23% (+0.36)
May 10, 2023	2023 (Q1)	0.59 / 0.61	0.47	29.79% (+0.14)
Feb 22, 2023	2022 (Q4)	0.57 / 0.56	0.49	14.29% (+0.07)
Nov 01, 2022	2022 (Q3)	0.27 / -0.03	0.65	-104.62% (-0.68)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CAKE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$42.62	$46.38	+8.82%
Jul 31, 2024	$38.38	$36.37	-5.24%
May 08, 2024	$33.29	$35.34	+6.16%
Feb 21, 2024	$33.29	$34.36	+3.21%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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