Revenue and Sales Performance - Revenues increased by 2.9% to $891.2 million for the fiscal quarter ended April 2, 2024, compared to $866.1 million for the same period in the prior year, primarily due to new restaurant openings[97] - The Cheesecake Factory sales rose by 1.8% to $667.8 million in the first quarter of fiscal 2024, while average sales per restaurant operating week decreased by 0.7% to $237,903[98] - Comparable sales for The Cheesecake Factory decreased by 0.6%, or $3.9 million, driven by a 1.5% decline in customer traffic, partially offset by a 0.9% increase in average check[98] - Sales through the off-premise channel accounted for approximately 22% of restaurant sales in the first quarter of fiscal 2024, down from 23% in the prior year[98] - North Italia sales increased 12.0% to $70.9 million for Q1 fiscal 2024, compared to $63.3 million in Q1 fiscal 2023[99] - Flower Child sales rose 10.2% to $34.5 million for Q1 fiscal 2024, up from $31.3 million in Q1 fiscal 2023[101] - Other FRC sales increased 8.2% to $74.2 million for Q1 fiscal 2024, compared to $68.6 million in Q1 fiscal 2023[102] - Total revenue for fiscal 2024 is anticipated to be approximately $3.6 billion[115] Cost Management and Financial Metrics - The Cheesecake Factory's food and beverage costs decreased to 22.8% of revenues in the fiscal quarter ended April 2, 2024, down from 23.8% in the prior year[96] - Total costs and expenses were 95.6% of revenues for the fiscal quarter ended April 2, 2024, compared to 96.1% for the same period in the prior year[96] - The company is focused on managing expenses prudently at restaurants, bakery facilities, and corporate support centers to leverage purchasing power[85] - The effective income tax rate decreased to 11.6% in Q1 fiscal 2024 from 12.5% in Q1 fiscal 2023[110] - The company expects a net income margin of approximately 4.25% for fiscal 2024[115] Capital Expenditures and Growth Plans - The company plans to continue expanding The Cheesecake Factory and North Italia concepts, focusing on premier locations in both new and existing markets[85] - The company aims for a targeted annual unit growth of 7% across concepts, combined with margin expansion to support a long-term financial objective of 13% to 14% total return to shareholders[93] - The company plans to open up to 22 new restaurants in fiscal 2024, with capital expenditures estimated between $180 million to $200 million[116] - Capital expenditures for new restaurants were $25.0 million in Q1 fiscal 2024, compared to $24.3 million in Q1 fiscal 2023[121] Shareholder Returns and Stock Activity - Common stock dividends paid were $12.8 million in Q1 fiscal 2024, compared to $13.2 million in Q1 fiscal 2023[125] - The company has repurchased 56.9 million shares at a total cost of $1,824.2 million, with 0.4 million shares repurchased for $12.5 million in Q1 fiscal 2024[127] - The company has cumulative share repurchase authorization of up to 61.0 million shares, with no expiration date[128] Liquidity and Financial Stability - Cash provided by operating activities increased by $1.7 million in Q1 fiscal 2024, totaling $66.7 million[120] - The company believes its cash and cash equivalents, along with expected cash flows and available borrowings, will provide adequate liquidity for the next 12 months[129] - The company entered into a Fourth Amended and Restated Loan Agreement providing a $400 million Revolver Facility, with $236.5 million net availability for borrowings as of April 2, 2024[123] - The Revolver Facility includes financial covenants that limit equity distributions and restrict certain financial activities[124] Risk Management - A hypothetical 1% increase in food costs would have negatively impacted cost of sales by $2.0 million in Q1 fiscal 2024[136] - A hypothetical 1% rise in interest rates would increase annual interest expense by $1.3 million based on borrowings as of April 2, 2024[137] - The company has not experienced changes in internal control over financial reporting that materially affect its financial reporting[139] - The company has no hedging contracts in place as of April 2, 2024, to manage commodity price risks[135]

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Etienne Marcus (818) 871-3000 investorrelations@thecheesecakefactory.com THE CHEESECAKE FACTORY REPORTS RESULTS FOR FIRST QUARTER OF FISCAL 2024 CALABASAS HILLS, Calif. – May 8, 2024 – The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the first quarter of fiscal 2024, which ended on April 2, 2024. Total revenues were $891.2 million in the first quarter of fiscal 2024 compared to $866.1 million in the first quarter of fiscal 20 ...

Core Insights - Cheesecake Factory (CAKE) is expected to report quarterly earnings of $0.63 per share, a 3.3% increase year-over-year, with revenues projected at $888.27 million, reflecting a 2.6% year-over-year growth [1] - The consensus EPS estimate has been adjusted downward by 0.3% over the past 30 days, indicating a reassessment by analysts [1] Revenue Estimates - Revenues from North Italia are expected to be $69.76 million, representing a 10.2% increase from the prior year [2] - Revenues from The Cheesecake Factory restaurants are forecasted to reach $665.10 million, suggesting a 1.4% year-over-year increase [2] - Revenues from Other segments are estimated at $77.24 million, indicating a 1.2% decrease year-over-year [2] - Revenues from Other FRC are projected to be $76.75 million, reflecting an 11.8% year-over-year increase [3] Comparable Restaurant Sales - Comparable restaurant sales for The Cheesecake Factory are estimated to decline by 0.9%, contrasting with a 5.7% increase from the previous year [3] - Comparable restaurant sales for North Italia are expected to be 2.7%, down from 9% in the prior year [4] Number of Restaurants - The number of company-owned restaurants for The Cheesecake Factory is projected to be 216, up from 210 year-over-year [3] - The total number of company-owned restaurants is estimated at 338, compared to 318 in the previous year [3] - The number of company-owned restaurants for North Italia is expected to reach 37, up from 33 year-over-year [3] - The number of company-owned restaurants for Other FRC is projected at 41, compared to 35 in the prior year [4] - The number of company-owned restaurants for Other is expected to remain at 40, consistent with the previous year's figure [4] Stock Performance - Over the past month, shares of Cheesecake Factory have returned +0.4%, while the Zacks S&P 500 composite has seen a -0.4% change [4] - Currently, CAKE holds a Zacks Rank 3 (Hold), indicating that its performance may align with the overall market in the near future [4]

Company Overview - Cheesecake Factory (CAKE) is expected to report a year-over-year increase in earnings, with a projected EPS of $0.63, reflecting a change of +3.3% [2] - Revenues are anticipated to reach $888.27 million, which is a 2.6% increase from the previous year [2] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 0.4% over the last 30 days, indicating a reassessment by analysts [2] - The Most Accurate Estimate for Cheesecake Factory is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +0.27% [4] Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [4] - Cheesecake Factory currently holds a Zacks Rank of 3, suggesting a likelihood of beating the consensus EPS estimate [5][6] Historical Performance - In the last reported quarter, Cheesecake Factory exceeded the expected EPS of $0.74 by delivering $0.80, resulting in a surprise of +8.11% [7] - Over the past four quarters, the company has beaten consensus EPS estimates three times [7] Industry Context - In the broader Zacks Retail - Restaurants industry, Portillo's Inc. is also expected to report earnings, with an EPS estimate of $0.05, indicating no change from the previous year [9] - Portillo's Inc. has an Earnings ESP of 4.76% and a Zacks Rank of 3, suggesting a potential earnings beat as well [9]

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Core Insights - Zacks Premium offers tools for investors to enhance their stock market strategies, including daily updates on Zacks Rank and Style Scores [1][4] - The Zacks Style Scores categorize stocks into Value, Growth, Momentum, and VGM Scores, helping investors identify stocks with the potential to outperform the market [2][3] Zacks Style Scores - **Value Score**: Focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales [2] - **Growth Score**: Analyzes projected earnings and sales to find stocks with sustainable growth potential [2] - **Momentum Score**: Utilizes price trends and earnings estimate changes to identify high-momentum stocks [2] - **VGM Score**: Combines Value, Growth, and Momentum Scores to highlight stocks with the best overall potential [3] Zacks Rank - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investment decisions, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988 [4] - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal returns [5] Company Spotlight: Cheesecake Factory (CAKE) - As of October 3, 2023, Cheesecake Factory operates 325 restaurants in the U.S. and Canada, including various brands [6] - CAKE holds a Zacks Rank of 3 (Hold) and a VGM Score of A, indicating solid performance potential [6] - The company is projected to achieve year-over-year earnings growth of 13.4% for the current fiscal year, with upward revisions from six analysts [6]

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The Cheesecake Factory Incorporated (CAKE) reported mixed fourth-quarter fiscal 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line fell year over year, while the bottom line increased from the prior-year quarter’s figure.Earnings & Revenue DiscussionIn the quarter under review, the company reported adjusted earnings per share (EPS) of 80 cents, beating the Zacks Consensus Estimate of 74 cents by 8.1%. In the year-ago period, the company reported adju ...